Even with Annual Income Over 100 Million Won and Housing Price Exceeding 900 Million Won, Jeonse Loan Guarantee Is Possible

Effective from applications submitted on March 2

Starting from the 2nd of next month, homeowners with one house will be able to use jeonse loan guarantees even if their combined annual income as a couple exceeds 100 million KRW or the housing price exceeds 900 million KRW.

Korea Housing Finance Corporation (HF) announced on the 28th that from March 2nd applications onward, homeowners with one house whose combined annual income as a couple exceeds 100 million KRW or who own a house valued over 900 million KRW (those with two or more houses are not eligible) will also be able to use jeonse loan guarantees.

This follows up on the Financial Services Commission's work plan announced in January and will be applied equally to products from Housing & Urban Guarantee Corporation (HUG) and SGI Seoul Guarantee.

With this revision, the combined income limit for couples has been abolished, easing housing and financial difficulties for dual-income working couples.

President Choi Jun-woo stated, “Through this system improvement, we expect to lower the entry barriers for customers who were previously unable to use public guarantees, providing timely support to those with real demand for jeonse loans and contributing to housing stability.”