청년주택드림청약통장As a result of the party-government consultation on the 24th, the Ministry of Land, Infrastructure and Transport launched the groundbreaking ‘Youth Home Purchase 1 and 2′ program, which provides additional preferential treatment of low-interest loans in the 2% range for three stages of life by signing up for a subscription account for one year to support young people’s asset formation and purchase of a home. ·3’ It was announced that housing support would be promoted.
This plan was prepared in accordance with the President’s directive to “promote policies to ensure housing stability for young people and build a housing ladder of hope,” and for the first time in history, it not only supports long-term and low-interest loans by linking subscription accounts and loans, but also supports marriage, It is a housing support plan that provides additional benefits throughout the entire life cycle, including childbirth and multiple children.
◆ ‘Youth Housing Dream Subscription Account’ product launched early next year
The first step in housing support for ‘Youth Owning a Home 1·2·3’ is signing up for the ‘Youth Housing Dream Subscription Account’. This is an expansion and reorganization of the existing youth-friendly housing subscription comprehensive savings, and the subscription requirements, interest rates, and payment limits have been greatly improved.
Those eligible for subscription are those aged 19 to 34 who do not own a home. The income will be relaxed from the previous annual income of 35 million won to 50 million won, and the interest rate provided will be increased from 4.3% to 4.5%. The payment limit will also be increased from 500,000 won per month (for youth preferential subscription account) to 1 million won.
Subscribers to the youth preferential subscription account can automatically switch and sign up without a separate application when the Housing Dream subscription account is launched. For general subscription savings subscribers, conversion is possible if you meet the housing dream subscription account subscription requirements, such as income standards and homelessness requirements.
In addition, it is allowed to make a lump-sum payment of the maturity termination payment of the Youth Leap Account to the Youth Housing Dream Subscription Account.
◆ 2.2% low-interest mortgage support when winning subscription
If you have subscribed to the Youth Housing Dream subscription account for one year and have paid more than 10 million won, you can use the second step, the ‘Youth Housing Dream Loan.’ Young people who win the subscription with this bank account can borrow up to 80% of the purchase price at a low interest rate of as low as 2.2% (differential by income and maturity) through the ‘Youth Housing Dream Loan’, a dedicated loan.
Those eligible for loan support are those who are under the age of 39 and do not own a home. If they are single, their annual income must be less than 70 million won, and if they are married, their annual income must be less than 100 million won (couple of married couples).
Loan interest rates vary depending on income and maturity. The lowest interest rate is 2.2% per year, but 3.6% per year is applied to the highest income range (KRW 85 million to KRW 100 million per year). The target is a house with a sales price of 600 million won and an exclusive area of 85㎡ or less.
◆ Support for additional interest rate benefits depending on marriage, childbirth, etc.
Even after using the loan, if you get married, give birth, or become a family with multiple children (additional births), additional interest rates are provided to reduce the burden of housing costs throughout your life cycle. An additional interest rate benefit of 0.1% point (p) is added for marriage, 0.5% point for the first childbirth, and 0.2% point for each additional childbirth. However, the preferential interest rate is supported only up to the lower limit of the loan interest rate of 1.5% per annum.
For example, if you win a house with an exclusive area of 60 m2 and a sale price of 340 million won in Wangsuk, Namyangju, the 3rd new city using the Housing Dream subscription account, the principal and interest repayment at 40-year maturity is around 930,000 won per month. If the minimum preferential interest rate of 1.5% is added here, the repayment amount is lowered to 760,000 won per month.
The Ministry of Land, Infrastructure and Transport plans to launch the Youth Housing Dream Subscription Account product early next year to provide young people with the opportunity to build assets and buy their own home.
Meanwhile, support for low-interest housing fund rent loans will be strengthened to reduce the burden of rent for young people who have difficulty purchasing a home right away, and monthly rent tax credits will also be expanded.
The support target and limit for the Youth Guarantee Department monthly rental loan and housing stability monthly rental loan are expanded, and the burden of lump-sum repayment immediately after the end of the monthly rent contract is also eased with the condition of ‘payment in installments within 8 years’.
Specifically, the loan limit for housing stability monthly rental loans will be expanded from 400,000 won to 600,000 won per month. In the case of youth guaranteed monthly rent loans, the support target will be expanded from deposits of 50 million won or less to 65 million won or less, deposit loan limits will be expanded from 35 million won to 45 million won, and monthly rent loan limits will be expanded from 500,000 won.
For small and medium-sized businesses and employed young people, repayment of the principal in installments is postponed when the loan is extended. Currently, there is a condition of repaying more than 10% of the principal when extending a loan, but in the future, this condition will not apply to only one extension.
We will also reduce the interest burden on jeonse loans by expanding refinancing support to convert high-interest commercial bank jeonse loans into housing fund jeonse loans. Currently, the refinancing period is only possible ‘within 3 months’ after signing the contract, but in the future, if the income is less than 50 million won, the refinancing period will be allowed for up to 6 months.
In addition, in order to strengthen housing support for the elderly, the introduction of ‘Silver Stay’, a new private rental housing that combines care and housing services, will be promoted, and the number of senior welfare housing units provided by the public will be expanded from 1,000 to 3,000 households per year.
We plan to strengthen protection for victims of rental fraud, support victims of multi-family housing to continue living in their homes using public rental housing, and expand on-site counseling services to areas with concentrated damage.
