Suncheon City Supports Loan Interest for Newlywed Couples and Multi-Child Families Purchasing Homes

Up to 150,000 KRW per Month · Support for up to 36 Months

[Suncheon=Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Jeollanam-do Suncheon City (Mayor Heo Seok) announced on the 24th that it is recruiting candidates for the ‘Newlywed Couples and Multi-Child Families Housing Support Project,’ which provides support for mortgage loan interest to help stabilize settlement in Suncheon.

Eligibility includes newlywed couples without a home residing in Suncheon City (within 7 years of marriage registration, both spouses under 49 years old) or multi-child families without a home (two or more minor children, with at least one child under 12 years old), who must pass loan screening by the Korea Housing Finance Corporation or other institutions.

The support target is a house within the jurisdiction purchased between November 1 of last year and the 30th of next month, priced at 600 million KRW or less as of the registration receipt date. If selected for the project, applicants will receive monthly support of up to 150,000 KRW for mortgage interest based on the actual payment, for up to 36 months.

Applicants wishing to receive support must submit an application form and related documents such as property tax itemized tax certificates to the administrative welfare center of their local eup, myeon, or dong from the 1st of next month until October 5.

The city plans to select a total of 71 households through document screening including income level in November and provide loan interest support semiannually.

Meanwhile, the city has been implementing the housing support project since 2019 and has received great response by supporting loan interest of about 520 million KRW for approximately 200 households to date.

A city official said, “We hope the support funds will alleviate housing cost burdens and lead to stable local settlement,” adding, “We will continue to strive to create favorable conditions for childbirth and child-rearing.”

For more details, check the announcement on the city’s website or contact the Population Policy Team of the Planning and Budget Office of Suncheon City.