Icheon City to Support Housing Lease Loan Interest for Newlywed Couples

For Newlyweds Within 7 Years of Marriage and Without a Home
Up to 2% of Outstanding Loan Balance, Maximum Support of 2 Million Won

On October 22, the city of Icheon in Gyeonggi Province announced that it will be accepting applications for the "Youth Newlywed Couples Housing Lease Loan Interest Support Program" until November 13.

This program provides partial support for the interest on housing lease loans borne by newlywed couples. The support covers up to 2% of the outstanding loan balance, with a maximum limit of 2 million won.

Eligibility requirements include: ▲ Both spouses must be registered residents of Icheon ▲ At least one spouse must be between 19 and 39 years old ▲ The marriage must have been registered within the past 7 years ▲ The combined annual household income must not exceed 80 million won ▲ The residence must be a home in Icheon with an exclusive area of 85 square meters or less and a jeonse conversion value of 300 million won or less ▲ The loan must be in the name of the newlywed couple and issued by a financial institution ▲ Applicants must not own a home.

However, the following are excluded from eligibility: ▲ Those who have signed a lease agreement with direct line relatives ▲ Basic livelihood security recipients ▲ Residents of public rental housing ▲ Those who have received similar support from other local governments ▲ Holders of apartment sales or occupancy rights.

Households wishing to apply should visit the Youth and Children Division at Icheon City Hall between October 30 and November 13, bringing the application form and required documents as listed in the city’s official announcement. The support funds will be provided in December after eligibility screening and selection procedures.

For more details about the program, please refer to the announcement on the city’s official website or contact the Youth Support Team at the Youth and Children Division of Icheon City Hall.