The limit of the 'bracing jeonse loan' for young people and newlyweds will be increased to a maximum of KRW 300 million.
The Ministry of Land, Infrastructure and Transport announced on the 4th that it will expand the loan limit for the Jeonse Fund to support youth and newlyweds from the Housing and Urban Fund.
Previously, support loans for youth-only support were provided up to 70 million won for houses with a deposit of less than 100 million won.
In the metropolitan area, the upper limit of deposit for newlyweds is also raised from 300 million won to 400 million won, and the loan limit from 200 million won to 300 million won.
In non-metropolitan areas, the upper limit of deposits will be increased from 200 million won to 300 million won, and the loan limit will be increased from 160 million won to 200 million won.
In addition, a conversion loan will be introduced so that you can use the 'stepping stone loan', a loan support for housing purchases from the Housing and Urban Fund before marriage, and switch to the 'preferential loan for newlyweds' with a higher loan limit after marriage.
Single householders over the age of 30 who had previously received stepping stone loans had to pay off all existing loans to get a new stepping stone loan for newlyweds to purchase a larger house after marriage.
However, if you use the 'lifecycle-type purchase fund conversion loan', which will be introduced from tomorrow, you can switch to a preferential loan for newlyweds without repayment procedures.
Here, you can also receive an additional 0.2% point interest rate preference.
In addition, it was explained that the repayment method (equal principal and principal, equal principal, multiplication method) determined at the time of the loan application can be changed in the middle.