If the topic of the real estate market in 2023 was the theory of special housing, 2024 can be said to be a special loan for newborns.
You can feel the heat of it because there were already more than 3 trillion won in loan applications within three weeks of its release.
The interest rate on the special loan for newborns is at least 1% lower than that of the home loan, so it is a product that must be applied unconditionally if it is a condition.
On top of that, special supply for childbirth households and acquisition tax reduction benefits have been organized for those who have been worried about getting a home in 2024.
If you want to compare or apply for special loan products for newborns right away, please click the link below.
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Operation Plan for Special Loan for Newborn Children
Interest rate, terms and conditions for a special home purchase loan for newborns
Interest rate and conditions for special lease loans for newborns
Repurchase of special loans for newborns
a special supply of newborns
the neonatal acquisition tax reduction system
<Simple comparison of purchase of special cases for newborns and lease loans>
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a special purchase loan for newborns
a special lease loan for newborns
Income 
less than 130 million won
less than 130 million won
property
4.69
3.45
Target housing
a housing price of less than 900 million won
deposit of less than 500 million won
(Less than 400 million local taxes)
loan limit
500 million
300 million
interest rates by income
8.5 thousand or less
1.6~2.7%
less than 7.5 thousand
1.1~2.3
85 million to 130 million
2.7~3.3
7.5~130 million
2.3~3.0
Operation Plan for Special Loan for Newborn Children
Special loans for newborns are largely divided into stepping-stone home purchase loans and supporting jeonse loans. Applications have been received since the end of January 2024. In addition, the special supply system for newborns starts in March, so it’s good to look at it together. First, let’s look at the special stepping-stone loans for newborns.
Interest rate, terms and conditions for a special home purchase loan for newborns
Eligibility for application
Special stepping-stone loans for newborns are only available to homeless householders and single-family householders who have given birth within two years (applied from babies born after January 1, 2023) as of the date of application for loans.
Income conditions must be less than 130 million won in combined annual income for couples and less than 469 billion won in net assets.
The target house for the loan is a house with a residential area of 85㎡ or less, and the market price of the house must not exceed 900 million won. For reference, if it is a eup or myeon area other than an urban area, it is possible to be less than 100㎡.
Contents of support
In the case of the loan limit, up to 500 million won is possible, but there are LTV and DTI conditions.
LTVs are up to 70% and up to 80% for first-time homebuyers. DTI is up to 60% for both general and first-time life.
Loan interest rates can range from a minimum of 1.6% per year to a maximum of 3.3% per year. This varies depending on the loan period and income level. Please refer to the table below.
the combined annual income of a married couple
10 years
15 years
20 years
30 years
~20 million won or less
1.6%
1.70%
1.80%
1.85
It’s over 20 million won
less than 40 million won
1.95%
2.05%
2.15%
2.20
Over 40 million won
less than 60 million won
2.20%
2.30%
2.40%
2.45
Over 60 million won
85 million won or less
2.45%
2.55%
2.65%
2.70
Over 85 million won~
less than 100 million won
2.7%
2.80%
2.90%
3.00%
Over 100 million won
less than 130 million won
3.0%
3.10%
3.20%
3.30%
The important thing is that the above special interest rate is applied only for five years, and after that, the interest rate will be applied according to the combined income level of the couple.
If the annual income is less than 85 million won, 0.55%p will be added from the interest rate, and if the annual income exceeds 85 million won, it will change to the lowest loan interest rate at commercial banks at that time.
In the case of preferential interest rates, there are a total of five below, all of which can be applied in duplicate, but the lower limit of the minimum interest rate is 1.2% per year.
subject to special interest rates
Check out my loan interest rate
Sortation
preferential interest rate
subscription savings subscriber
Subscription period of more than 5 years and more than 60 times: 0.3%
More than 10 years of subscription and more than 120 times: 0.4%
Subscription period of more than 15 years and more than 180 times: 0.5%
Conclusion of Electronic Contracts
0.1%
new housing furniture
0.1%
For every additional child who gave birth within two years
0.2%
For every minor child who is more than two years old after birth
0.1%
The special loan for newborns will run from January 29, 2024 until the budget is exhausted. The supply scale is 27 trillion won, which is smaller than the special housing loan of 40 trillion won, so it is recommended to apply as soon as possible if there is a condition.
You can apply before registering the transfer of ownership, and if you register the transfer of ownership, you can apply within three months from the date of receipt of the transfer registration.
Bank for handling special loans for newborns
Woori Bank, Shinhan Bank, KB Kookmin Bank, NH Nonghyup Bank, KEB Hana Bank
Interest rate and conditions for special lease loans for newborns
Eligibility for application
Special lease loans for newborns are for homeless householders who gave birth within two years of the loan application date.
Income must be less than KRW 130 million per year for the combined annual income of couples, and net assets must be less than KRW 345 billion.
The available loanable house should be a house with an exclusive area of 85㎡ or less, and the rental deposit should not exceed 500 million won in the metropolitan area and 400 million won outside the metropolitan area.
Contents of support
The loan limit is up to 300 million won per household, and it is within 80% of the lease amount. The same applies to renewal contracts. For your information, it can be extended up to 5 times and can be used for up to 12 years.
Loan interest rates range from a minimum of 1.1% to a maximum of 3.0%. It depends on whether annual income and preferential interest rates are applied. First, the interest rates that vary depending on the combined annual income of the couple are as follows.