Icheon-si Supports Interest on Jeonse and Monthly Rent Loans for Newlywed Couples

Once a year, up to 2 million KRW limit
For non-homeowners within 7 years of marriage registration

On the 22nd, Icheon City in Gyeonggi Province announced that it will support interest on housing jeonse and monthly rent loan funds to alleviate the housing cost burden for newlywed couples.

This project provides interest support on loan balances for jeonse and monthly rent funds up to 2%, with a maximum of 2 million KRW, to newlywed households. Eligible applicants must meet all of the following conditions: both spouses must have their resident registration addresses in Icheon City; at least one spouse must be between 19 and 39 years old (born between 1985 and 2005); combined household annual income must be 80 million KRW or less; the housing must be located in Icheon City with a net floor area of 85㎡ or less and a jeonse conversion price of 300 million KRW or less; and the loan must be a housing jeonse or monthly rent loan in the name of the newlywed couple from a financial institution.

However, those who have signed lease contracts with direct lineal ascendants or descendants, basic livelihood security recipients (recipients of livelihood, medical, or housing benefits), public rental housing residents, those who have received similar support from other local governments, and owners of pre-sale rights or move-in rights are excluded from eligibility.

Applicants wishing to apply should bring the application form posted on the Icheon City website along with the required documents and visit the Youth and Children Division at Icheon City Hall between the 5th and 20th of next month. The support funds will be allocated within the budget limits based on selection criteria and are scheduled to be paid in December.

For more detailed information and schedules regarding the project, please refer to the Icheon City website or contact the Youth Support Team at the Youth and Children Division of City Hall.