Siheung City Provides Jeonse Loan Interest Support for Newlyweds

1.5% of Remaining Loan Balance, Up to 700,000 Won... Up to 1,000,000 Won for Households with Children
Applications Accepted from the 23rd to the 27th... Eligible for Couples Married Within 7 Years and with Household Income at or Below 180% of Median Income

Siheung City in Gyeonggi Province is implementing the 'Interest Support for Jeonse Loans for Newlyweds' program to alleviate the housing cost burden for newly married couples.

This program is part of a housing welfare policy designed to reduce the housing cost burden for newlyweds and to create stable settlement conditions, thereby encouraging marriage and childbirth.

The city is accepting applications for the annual interest support program for jeonse loans, with the application period running from the 23rd to the 27th.

Applicants must meet the following requirements: both spouses must have been registered residents in Siheung for at least one month; the marriage registration must have been completed within the past seven years; the combined household income must be at or below 180% of the standard median income; and the applicants must meet the criteria for being without a home. Only those who have received a housing jeonse loan from a financial institution are eligible to apply.

However, recipients of basic livelihood, medical, or housing benefits; residents of public rental housing; recipients of Siheung-style housing cost support; residents of Siheung City social housing; beneficiaries of the special temporary youth monthly rent support program; and those who have won housing subscriptions or own pre-sale rights are excluded from eligibility.

The support amount is up to 700,000 won, calculated as 1.5% of the remaining balance of the housing jeonse loan. For households with children, an additional 0.5% per child is provided, with the total support capped at 1,000,000 won within the budget limit.

Newlyweds wishing to apply should prepare the necessary documents, including the lease agreement, housing jeonse loan confirmation, and proof of not owning a home, and submit their application in person at the administrative welfare center corresponding to their registered address.

For more details, applicants can check the 'Notices/Announcements' section on the Siheung City Hall website or contact the Housing Welfare Team at Siheung City Hall or the administrative welfare center in their neighborhood.