Geumsan County to Provide 'Low-Interest' Loans for Rural Housing Improvement Project

New Construction, Reconstruction, Rebuilding, Extension, and Major Repairs
Up to 20-Year Repayment Period

View of Geumsan County Office (Photo by Geumsan County)

Geumsan County has been allocated eight recipients for the 2026 Rural Housing Improvement Project and will carry out the initiative to improve residential environments and strengthen settlement conditions in rural areas.

The Rural Housing Improvement Project provides long-term, low-interest loans through Nonghyup Bank to residents who currently live in rural areas, those planning to move there, as well as returnees to farming villages. The loans cover the costs required for new construction, reconstruction, rebuilding, extension, and major repairs.

The interest rate for general applicants is a fixed 2%, while young adults are eligible for a preferential rate of 1.5%. As of 2026, "young adults" are defined as those under the age of 40, specifically individuals born after January 1986.

The maximum loan amount is up to 250 million won for new construction, reconstruction, or rebuilding, and up to 150 million won for extensions or major repairs. Repayment terms allow applicants to choose between a three-year grace period with 17-year installment payments, or a one-year grace period with 19-year installment payments, thereby reducing the financial burden.

Additionally, those who acquire a house through the Rural Housing Improvement Project are eligible for acquisition tax reductions, helping to lower overall housing costs.

Applications can be submitted from February 2 to February 13 by visiting the local township administrative welfare centers and submitting the application form along with the required documents.

Jo Changhyun, an official from the Urban Architecture Division, stated, "The purpose of the Rural Housing Improvement Project is to support the stable settlement of young adults and returnees to rural areas by improving aging houses," adding, "We will continue to provide active administrative support to ensure that recipients can smoothly implement the project."