The Government Service Insurance System (GSIS) is making a significant push to increase homeownership among Filipino government workers.
The state pension fund launched a new program today that eliminates the down payment requirement for 12,000 GSIS properties nationwide.
“Our Pabahay program has been redesigned to better meet the needs of our members,” said GSIS president and general manager Wick Veloso. “This approach is intended to provide opportunities that were previously out of reach for many of our public servants.”
The program opens doors for government workers who may have previously been priced out of the market.
Current GSIS property lessees can now choose to become homeowners through installment plans, again removing the down payment requirement.
GSIS is actively exploring further enhancements to the Lease With Option to Buy (LWOB) program to ensure its continued alignment with members’ needs.
The downpayment-free program is open to active GSIS members with a clean contribution history, permanent employment status, at least three years of service, and a net take-home pay exceeding PHP 5,000 after loan deductions.
“This program serves as a token of our appreciation for the unwavering commitment of our government employees,” emphasized Veloso. “We are dedicated to removing financial obstacles and providing a clear path to achieving homeownership, a key element of financial security and the Filipino dream.”
