GSIS launches no-down-payment housing program
The Government Service Insurance System (GSIS) has unveiled a new housing program designed to make homeownership more accessible for government workers.
Announced during a stakeholders’ meeting in Laoag on July 15, the initiative eliminates the traditional down payment requirement, offering long-term installment plans for the acquisition of 12,000 GSIS properties nationwide.
“Our Pabahay program has been restructured to truly address the needs of our members. By eliminating the down payment 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,” said GSIS President and General Manager Wick Veloso.
“This combination of features is designed to open doors that were previously closed to many of our dedicated public servants.”
The program, approved by the GSIS Board of Trustees, allows current lessees to buy their homes on an installment basis without any initial down payment.
Veloso mentioned that further improvements are being studied to enhance the Lease With Option to Buy (LWOB) program, making it more responsive to members’ needs.
To qualify for the program, applicants must be active GSIS members with updated premium contributions, hold permanent employment status, have at least three years of service, and a net take-home pay of at least P6,000 after loan deductions.
“This program is about recognizing that those who dedicate their lives to serving our nation deserve a real shot at the Filipino dream. No more impossible cash requirements. No more deferred dreams. Just a clear path to a place they can finally call their own,” Veloso added.
For more details on the program, visit the GSIS website at www.gsis.gov.ph and the GSIS Facebook page @gsis.ph.
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