청년주택드림청약통장The Ministry of Land, Infrastructure and Transport plans to launch the ‘Youth Housing Dream Subscription Account’ for young people under the age of 34 who do not own a home next year. The purpose of this account is to allow young people to accumulate payments and, if they win the subscription, receive a home mortgage loan with an interest rate of 2.2%.
The Ministry of Land, Infrastructure and Transport also announced that it will promote housing support for ‘Youth Buying a Home 1, 2, 3’. This is a ‘building a housing ladder’ policy to ensure housing stability for young people. We provide long-term, low-interest home purchase loans by linking subscription accounts and loans. this
Specifically, those eligible to sign up for the ‘Youth Housing Dream Subscription Account’ are those aged 19 to 34 who do not own a home, and the income requirement must be less than 50 million won per year. The interest rate is 4.5%, and the payment limit is up to 1 million won per month. Subscribers to the youth preferential subscription account can automatically switch and sign up, and subscribers to the general subscription savings account can also switch and sign up.
As mentioned earlier, the ‘Youth Housing Dream Loan’ provided when winning a subscription provides a loan of up to 80% of the purchase price at an interest rate of as low as 2.2%. Those eligible for loan support must be those under the age of 39 who do not own a home. If they are single, their annual income must be less than 70 million won, and if they are married, their annual income must be less than 100 million won (couple of married couples).
The Ministry of Land, Infrastructure and Transport also decided to postpone repayment of the principal in installments when the loan is extended by the person concerned in the case of a lease loan for young people working at small and medium-sized businesses. It was decided not to apply the existing condition of repayment of more than 10% of the principal when extending a loan, but only for one extension.
In addition, it was decided to expand support for loan conversion, which converts commercial bank jeonse loans into housing fund jeonse loans at high interest rates. It has been decided that the repayment period, which is currently only possible within 3 months of signing a contract, will be allowed up to 6 months for those with an income of 50 million won or less.
The Ministry of Land, Infrastructure and Transport is also strengthening housing support for the elderly. We plan to introduce ‘Silver Stay’, a new private rental housing system that combines care and housing services. We plan to expand the number of senior welfare homes provided by the public from 1,000 to 3,000 households per year.
An official from the Ministry of Land, Infrastructure and Transport said, “We have prepared a housing support plan that will provide young people with opportunities to build assets and buy their own homes at the same time,” and promised to build a housing ladder for young people throughout their lives as a quick follow-up measure.
For further inquiries, please contact the Housing Fund Division of the Housing Policy Division of the Ministry of Land, Infrastructure and Transport (044-201-3340), the Private Rental Policy Division of the Housing Welfare Policy Division (044-201-4476), and the Damage Support Division of the Jeonse Fraud Victim Support Group (044-201-5233). Just inquire.
These policies are expected to promote home ownership and housing stability for young people and contribute to improving the housing welfare of the elderly.
