Yangsan-si Supports Interest on Jeonse Loans for Newlywed Couples Without Housing ... Up to 1 Million KRW

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Yangsan City, Gyeongnam announced on the 5th that it will support part of the interest on jeonse loan for newlywed couples without housing with a budget of 100 million KRW.

The support target is newlywed couples within 5 years of marriage (based on marriage registration date from 2016.1.1 to 2020.12.31) who are both registered and residing at the same address in Yangsan City as of the announcement date.

They must be living in rental housing with a loan amount of 150 million KRW or less and have an income below 180% of the median income (holders of pre-sale rights can also apply), and must have received a housing jeonse loan from a financial institution.

However, basic livelihood security recipients, public rental housing residents, those who have signed a lease contract with a first-degree lineal relative or their spouse, and those who do not meet other criteria set by the mayor are excluded from support.

The support is up to 1.5% of the outstanding housing jeonse loan balance, with a maximum of 1 million KRW once a year. If there are many applicants, support will be provided based on lower income priority within the budget.

Applications will be accepted at each eup, myeon, and dong administrative welfare center from the 8th to the 31st.

For more details, refer to the announcement posted on the city hall website, and inquiries can be made to the city hall Women and Family Division or the eup, myeon, and dong administrative welfare centers.

A Yangsan City official said, “We expect this to contribute to population growth by alleviating the economic burden of newlywed couples and helping to establish stable housing conditions.”

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