GSIS eases housing loan terms
THE GOVERNMENT Service Insurance System (GSIS) has revised its housing loan program for government workers to boost their chances of acquiring any of 12,000 GSIS properties nationwide.
“By eliminating the downpayment requirement and offering a long-term installment plan, we are not just making home ownership more achievable for our members; we are providing an accessible and affordable housing program,” GSIS President and General Manager Jose Arnulfo A. Veloso said in a statement on Monday.
GSIS said that the properties are awarded to government workers who will be paying in installments.
The GSIS Board of Trustees approved the revised guidelines to allow current lessees to buy their homes on an installment basis with no downpayment.
Mr. Veloso added that further changes are being studied to improve the Lease with Option to Buy (LWOB) program for its members. — Aaron Michael C. Sy