HUG "Apply for Newborn Special Loans Starting from the 29th"

The Housing and Urban Guarantee Corporation (HUG) announced on the 26th that it will begin accepting applications for the Newborn Special Loan starting at 9 a.m. on the 29th.

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The Newborn Special Loan is implemented in accordance with the "Housing Stability Measures to Overcome Low Birthrate" announced in August last year, targeting households that have given birth within two years from the loan application date. This year, it applies to childbirth households (adoptive households) with newborns born after January 1, 2023. Applicants must also meet requirements such as a combined annual income of 130 million KRW or less and net assets of 469 million KRW or less.

If the conditions are met, home purchase funds can be borrowed at a low interest rate of 1.6% to 3.3% per annum, and jeonse (long-term deposit lease) funds at 1.1% to 3.2% per annum. Detailed loan conditions, including interest rate requirements, can be checked on the Housing and Urban Fund website.

Loan applications can be made through banks handling housing fund loans (Woori, Kookmin, Nonghyup, Shinhan, Hana Bank) and the Fund e-Dundun website (online). However, for refinancing loans, to enhance user convenience, applications can be made online without a separate bank visit.

Yoo Byung-tae, President of HUG, stated, "We will continue to faithfully support childbirth households and newlyweds through housing and urban funds, including the Newborn Special Loan."

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