Housing Finance Corporation to Support Rental Deposit for Youth and Newlyweds in Daegu

Daegu City, DGB Daegu Bank, and NH Nonghyup Bank Daegu Business Headquarters Agree to Cooperate

[Asia Economy Yeongnam Reporting Headquarters, Intern Reporter Lee Seryeong] Korea Housing Finance Corporation (HF) is signing a 'Daegu City Youth and Newlywed Couple Housing Lease Deposit Support Business Agreement' with Daegu City, DGB Daegu Bank, and NH Nonghyup Bank Daegu Sales Headquarters.

According to the Housing Finance Corporation on the 22nd, the four institutions have signed the agreement to expand support for jeonse loan guarantees and jeonse deposit return guarantees used by Daegu City's homeless youth and newlywed couples.

After consultations on detailed matters such as eligibility requirements and support procedures, it is expected to be implemented in the first half of next year.

Under this agreement, Daegu City youth and newlywed couples who sign lease contracts with a lease deposit of 200 million KRW or less and use the agreement jeonse loan guarantee will receive interest support on jeonse loans from the city: up to 50 million KRW loan limit for youth and up to 100 million KRW loan limit for newlywed couples.

The actual loan amount and loan eligibility may vary depending on the applicant's income and credit rating, but youth can receive benefits of up to 1 million KRW annually at 2%P, and newlywed couples can receive benefits up to 1.6%P annually: 1%P for no children, 1.3%P for one child, and 1.6%P for two or more children, with a maximum annual benefit of 1.6 million KRW.

The Housing Finance Corporation plans to offer preferential conditions such as reducing the jeonse loan guarantee fee by 0.1 percentage points to apply the lowest rate of 0.02% and expanding the guarantee limit to 90% of the lease deposit.

Daegu Bank and NH Nonghyup Bank Daegu Sales Headquarters will actively encourage customers to simultaneously subscribe to the corporation's jeonse loan guarantee and return guarantee products, and Daegu City plans to fully support the guarantee fee for the corporation's jeonse deposit return guarantee for lease deposits of 300 million KRW or less.

President Choi Jun-woo said, "We hope this will help reduce the housing cost burden for youth and newlywed couples in the Daegu area and safely protect the youth's jeonse deposits."

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