A lending program of the SSS allowing a member in good standing to assume the updated principal balance of an existing SSS housing loan

Qualifying Conditions

The principal applicant must have the following qualifications:

  1. The member-borrower must be a member of SSS who has at least thirty-six (36) months contribution and twenty-four (24) continuous contributions in a period prior to application.
  2. Is not more than sixty (60) years old at the time of application.
  3. He was not previously granted an SSS housing loan.
  4. He has not been granted final SSS benefits.
  5. Borrower and spouse is current in the payment of their other SSS loan(s), if any.

Loan Details

Loanable Amount

The maximum loanable amount is Php2,000,000.00 but should not exceed the updated loan balance of the account assumed.


Loan Terms

The amortization period shall be in multiples of five (5), but shall in no case exceed:

  1. The remaining term of the old mortgage.
  2. The economic life of the house.
  3. The difference between the age of the applicant and sixty-five (65).


Interest Rate

The Interest Rates are as follows:

Up to Php450,000.00 8% p.a.
Over Php450,000.00 up to Php1,000,000.00 9% p.a.
Over Php1,000,000.00 up to Php1,500,000.00 10% p.a.
Over Php1,500,000.00 up to Php2,000,000.00 11% p.a.

 The loan shall be secured by any collateral acceptable to SSS provided the loan is fully secured.


Allowable Collateral/s

The collateral shall be the house and lot which is the subject of the mortgage to be assumed.



The housing loan account should be covered by a Mortgage Redemption Insurance and Fire and Earthquake Insurance.

The insurance premiums shall be shouldered by the borrower.


Loan Release

The amount assumed is transferred to the mortgagor. A new account number will be assigned to be used in paying the monthly amortization of the loan.


Manner of Payment

The regular monthly amortization payment shall start within the first ten (10) days of the succeeding month after the account has been journalized. Prior to journalization, the applicant shall continue paying the monthly amortization for the account of the original mortgagor.


Loan Default

Any unpaid loan amortization shall bear a penalty of 1.5% for every month of delay. If the mortgagor fails to pay at least six (6) monthly amortizations, the SSS may immediately foreclose the mortgaged property.

How to Apply

The member-borrower may file the application at the nearest Housing and Acquired Assets Management Section (HAAMS) for outside NCR or at the Member Loans Department (MLD), 5/F, SSS Bldg., East Avenue, Diliman, Quezon City for NCR. 

The following documents should be submitted upon filing of application:

  1. Original copy of Mortgagor’s Application for Housing Loan with 1” x 1” ID pictures of Principal Applicant and Spouse.
  2. Original and photocopy of latest Income Tax Return together with Form W-2 and Confirmation Receipt (not applicable for overseas worker).
  3. SS Form E-1 (and E-4, if any). If self-employed, SS Form RS-1; Employer Membership Certificate and Business License.
  4. Certification of Employment, Compensation and SSS Premium Contributions duly signed by the employer’s SSS authorized signatory. If overseas worker, Certification and Contract of Employment (duly authenticated by the Philippine Consulate).
  5. Deed of Sale with Assumption of Mortgage and latest Statement of Account from Investment Accounting Department (IAD), 9th floor.
  6. If existing housing loan with the SSS is a Joint Applicant, written conformity of the other Joint Applicant.
  7. Affidavit of undertaking to continue paying monthly SSS Premium Contributions for the duration of loan for Voluntary and Self-employed members only.


  • Present original and submit one (1) photocopy of valid IDs and required documents for authentication purposes.
  • Applicant and spouse must be up-to-date in the payment of all existing loan accounts with SSS subject to verification by the SSS.
  • SSS reserves the right to require additional documents if deemed necessary.
  • Application Fee – ½ of 1% of loan amount or P500.00, whichever is higher but not to exceed P3,000.00, to be paid prior to journalization of the account.