Incheon to Begin Accepting First Applications for Newborn Household Homeownership Mortgage Interest Support

Until October 10... 3,000 Households to Be Selected
Up to 3 Million Won Per Year for Five Years

The Incheon Metropolitan Government is now accepting the first round of applications for its newborn household mortgage interest support program.

On September 16, the city announced the official launch of the “Newborn Household Homeownership 1.0 Mortgage Interest Support Program,” part of the Incheon-style low birthrate policy known as the “i+ Home Dream” project.

The program targets newborn households with children born between January and August of this year, with plans to select and support a total of 3,000 households. Eligibility requirements include a combined annual income of 130 million won or less for the couple, residence in a home located in Incheon with an exclusive area of 85 square meters or less and a real transaction price of 600 million won or less, single-home ownership and residence, and both the couple and their children being registered as residents.

Incheon City Hall

Applications can be submitted online through the “Incheon Housing Portal” from September 18 to October 10. If more than 3,000 households apply, recipients will be selected in order of the highest scores based on a points system.

The support covers up to 1% of the remaining mortgage balance (up to 300 million won), with a maximum of 3 million won per household per year for five years. For this year, interest support will be provided for the January-August period, up to a maximum of 2 million won.

An official from the Incheon Metropolitan Government stated, “This project goes beyond simply providing housing support; it aims to create a strong foundation for families to settle down and raise children with confidence. We will do our utmost to make Incheon a city where it is easy to raise children.”