Yongin City to Support Loan Interest Payments for First-Time Homebuyers Among Young Residents

Up to 1 Million Won, 1% of Outstanding Loan Balance
Applications Accepted via Yongin Youth Portal from May 21 to 27

On May 14, the city of Yongin in Gyeonggi Province announced that it will provide partial support for loan interest payments to young residents who have taken out a mortgage for their first home purchase.

The amount of support will be up to 1% of the outstanding balance of the first home purchase loan, with a maximum limit of 1 million won. Eligible applicants must meet the following criteria: young households aged 18 to 39 residing in Yongin who purchased their first home on or after January 1, 2023; residing in a home valued at 600 million won or less and with a floor area of 85 square meters or less; having a household income at or below 180% of the median income; and possessing assets of 370 million won or less.

Applicants can apply online from May 21 to May 27 through the 'Yongin Youth Portal Cheongnyeon Erang'. More detailed information is available on the Yongin City Hall website or the Cheongnyeon Erang homepage.

A city official stated, "We hope that this support for loan interest payments will help alleviate the housing cost burden for young people," adding, "We will continue to prepare various housing support policies to help young people settle down stably."

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