Yongin City Accepts Applications for Newlywed Couples' Jeonse Loan Interest Support

[Suwon Ilbo=Reporter Park Noh-hoon] Yongin City announced it will accept applications for jeonse loan interest support from May 3 to 21 for non-homeowning newlywed couples.

Applicants must have resided in Yongin City for at least one month as of the application date, have been married for seven years or less, have a monthly household income of 180% or less of the median income (5.55 million won for two-person households), and have received a jeonse loan.

The target housing criteria include apartments, single-family homes, multi-unit residential buildings, and officetel with a jeonse deposit or jeonse conversion price of 30 million won or less and a dedicated floor area of 85 square meters or less. The property must currently be occupied, and the jeonse loan must be designated for housing, rental, or jeonse purposes.

The city will provide support within 1% of the remaining jeonse loan balance, up to a maximum of 1 million won annually. If there are many applicants, 150 households will be selected in order of highest score based on evaluation criteria including number of children, length of marriage, continuous residency period, disability status, and support of direct lineal ascendants.

Those seeking support should refer to the city news section on the city website, prepare required documents, and apply via the responsible staff member's email (yonginhousing@korea.kr).

Regarding this, the city previously provided jeonse loan interest support to 100 households last year who had been married for five years or less with incomes of 180% or less of the median, and resided in apartments, single-family homes, multi-unit residential buildings, and officetel with a jeonse deposit or jeonse conversion price of 20 million won or less and a dedicated floor area of 85 square meters or less.

A city official stated, "To provide substantial assistance to newlywed couples facing housing cost burdens, we have relaxed the marriage period and deposit standards this year and increased the number of eligible recipients."