Busan City Launches Housing Loan and Interest Support Program for Newlyweds... Applications Open from the 11th

January 11-12 Busan Bank Mobile Banking App, Business Applicant Registration

Eligible Newlyweds, Random Draw... Total 400 Households Selected and Supported

Busan City will recruit eligible applicants for the "2024 1st Quarter Newlywed Housing Loan and Interest Support Program" from January 11 to 12.

The "Newlywed Housing Loan and Interest Support Program" is implemented for newlyweds to alleviate their housing cost burden and create a marriage and childbirth-friendly environment.

▲ Busan City supports an annual loan interest rate of 2.0% and up to 4 million KRW in loan interest per year for 2 years (extendable up to 10 years), ▲ Korea Housing Finance Corporation guarantees 100% of the loan amount, and ▲ Busan Bank provides rental deposit loans up to 200 million KRW.

Newlywed couples residing in Busan who wish to apply can do so via the Busan Bank mobile banking app from 9:00 AM on January 11 to 4:00 PM on January 12. The city plans to select and support a total of 400 households through a random draw among applicants.

Eligible applicants are newlywed couples registered in Busan as of the application date (within 7 years of marriage registration) or prospective newlyweds (within 3 months before marriage), who meet the following conditions: ▲ combined annual income of the couple is 80 million KRW or less, ▲ rental deposit for housing or residential officetel is 300 million KRW or less, and ▲ a lease contract is signed as of the application date. However, homeowners, those who have lease contracts with their parents, residents of public rental housing, basic livelihood security recipients, previous beneficiaries (participation limited to once in a lifetime), and those receiving overlapping benefits from similar support programs are excluded.

The results of the selection will be announced on the 16th, and loan execution for successful applicants will take place from January 29 to March 29.

Application Period for Newlywed Couple Housing Loan and Interest Support Program.

For more details, please check the announcement section on the Busan City website.

Mayor Park Hyung-jun said, "We hope this program will help ease the housing cost burden for newlywed couples in our city, even if only a little," and added, "We will continue to build a solid foundation so that marriage and childbirth can be happy choices, striving to make Busan a great city to have and raise children."

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