Hongseong County to Provide Housing Loan Interest Support for Newlyweds... Up to 1.5 Million Won

Hongseong County Office

Hongseong County, Chungnam Province, announced on the 18th that it will introduce the 'Newlywed Housing Loan Interest Support Program' for the first time this year to help newlywed couples in the county stabilize their housing situation.

The Newlywed Housing Loan Interest Support Program provides up to 1.5% of the outstanding balance of home purchase or jeonse loans, with a maximum support of 1.5 million KRW, to newlywed couples who meet certain requirements.

Eligible applicants are newlywed couples who, as of the announcement date on the 17th, have both spouses registered as residents of Hongseong County and have either registered their marriage within the past seven years or are planning to marry within three months. Households must have a combined income at or below 180% of the median income (monthly 7,078,784 KRW for a two-person household), and must either be without a home (for jeonse) or own only one home (for purchase).

Additionally, the program targets newlywed couples who own a home in Hongseong County with a purchase price of 500 million KRW or less, or a jeonse/monthly rent deposit of 300 million KRW or less, and with an exclusive area of 85 square meters or less.

However, recipients of livelihood, medical, or housing benefits, residents of public rental housing, households that have signed lease contracts with direct relatives, beneficiaries of similar programs, or those whose loan purpose is not for housing, are excluded from eligibility.

Hongseong County will accept applications until May 30, review factors such as consecutive residency period in the county, income level, number of children, and applicant's age, and plans to select and support 20 households in the first round.

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