State pension fund Government Service Insurance System is offering a housing loan and restructuring program for housing loan borrowers and installment sale for buyers of its retail housing units. The two new programs aim to assist the national government’s housing efforts and provide better lives to Filipinos.
Qualified to avail of the installment sale program are active GSIS members who have paid at least three years of paid premiums; are not on leave of absence without pay at the time of application; have updated premium and loan payments; have no pending administrative or criminal case, and have no active housing loan account with GSIS.
GSIS said buyers under installment sale should not be under agencies tagged as suspended; have net take-home pay not lower than the amount required under the General Appropriations Act after all monthly obligations have been deducted; and not be older than 65 years old at the time of maturity of the obligation.
The pension fund opened last year the Lease with Option to Buy program. Under the program, informal occupants of GSIS housing units are given priority to lease the property to provide them the chance to legalize their stay and ultimately buy the property. Unoccupied GSIS properties for lease are also open to non-members under the program.