August 15, 2023

Government Service Insurance System (GSIS) Housing Loans

Created by way of Commonwealth Act No. 186 that was passed in 1936, and later on amended under Republic Act No. 8291 in 1997, the Government Service Insurance System (GSIS) is a social security system for government employees. It ensures members against particular contingencies in exchange for their monthly contributions.

The institution does not directly offer housing loans as it did in the past and is presently focused on compulsory life insurance, optional life insurance, retirement benefits, disability benefits for work-related contingencies, and death benefits for its government-worker members. However, it does offer housing loan products via these two means.

  1. GSIS Family Bank Home Loans

GSIS offers housing loans in a private capacity, via the GSIS Family Bank. GSIS currently owns a 99.6 percent stake in the bank, and through it offers housing loans to individual/single proprietors, employed individuals, OFWs, and partnerships and corporations.

  1. Home Loans via PAG-IBIG

As GSIS decided to wind down its direct lending program due to lackluster housing performance of the pension fund, it decided to instead forge partnerships with key shelter agencies (KSA), which has the proven expertise on home lending. No KSA is more widely recognized than the Pag-IBIG fund, and GSIS signed a credit facility agreement and provided an initial allocation of Php5 billion to finance the housing loans of GSIS members and pensioners.

Pag-IBIG Fund Housing Loans

The Housing Development Mutual Find (HDMF)—better known as the Pag-IBIG Fund—is one of the most familiar and popular options when it comes to housing loans. They give financial assistance to its members looking to purchase their own home. Pag-IBIG has also been tapped by GSIS for house loan options since GSIS stopped its loan operations in May of 2016.

What makes Pag-IBIG Fund all the more attractive is the fact that their maximum loanable amount totals to P6million. Unlike options like SSS where each option provided has a maximum loanable amount of P2million. But if you’re wondering what modes you can choose from when applying for a Pag-IBIG housing loan, here are two:

  1. Retail

If you’re looking to apply for a loan from Pag-IBIG directly, retail is the way to go. Just like other agencies that offer house loans, Pag-IBIG makes it possible for its members to get a loan too. They’ve made this option available for a wide array of workers—from private sector workers, OFWs or even self-employed workers. But before one is granted, there are a few requirements to be met:

  1. Must be a member under the Pag-IBIG I, Pag-IBIG II, or Pag-IBIG Overseas Program (POP) for at least 24 months and has made at least the same amount of monthly contributions at the time of application
  2. Is not over 65 years old at the time of application and must be insurable (Meaning the applicant is not older than 70 years at loan maturity)
  3. Has the legal capacity acquire or purchase real property


  1. Assisted By Developers

Typically, when you purchase properties like condominiums, agents, brokers or developers are hands-on in assisting you. This also includes applying for house loans. The developer will walk you through as the buyer in applying for the said loan.

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