Geoje City Supports Interest on Jeonse Loan for Newlywed Couples and Single-Parent Families

Annual limit of 1 million KRW... Up to 1.5 million KRW support for families with children

[Asia Economy Yeongnam Reporting Headquarters Reporter Son Tae-seok] Geoje City announced on the 3rd that it will support the interest on housing jeonse loan from January to reduce the housing cost burden for newlywed couples without homes and single-parent families with unmarried mothers and fathers, and to create stable residential conditions.

The support targets are newlywed couples within 7 years of marriage registration and single-parent families with unmarried mothers and fathers raising children under the age of 13, who are non-homeowners with all household members registered as residents in Geoje City. In addition, the household monthly income must be below 180% of the median income standard, and the financial institution loan amount must be 100 million KRW or less.

The support amount is 1.5% of the loan balance, up to a maximum of 1 million KRW, and families with children receive an additional 0.5% per child, up to a maximum of 1.5 million KRW. Basic livelihood security recipients and public rental housing tenants are excluded from the support.

If there are many applicants, priority will be given based on income level, number of children, and length of residence in Geoje City, and support will be provided within the budget range.

This content was produced with the assistance of AI translation services.