청년전용 보증부 월세대출Now, let’s look at a new benefit for young people starting in 2023, a monthly rent loan with a guarantee for young people. If you are struggling with housing issues due to the monthly rent deposit or monthly rent, please check this post for detailed information such as loan application eligibility, loan limit, interest rate, loan period, application method, and required documents.
Key points to quickly understand
The youth-only guaranteed monthly rent loan is a system that provides loans for rental deposits and monthly rent at low interest rates, and is designed for young people aged 19 to 34 as of the date of loan application. Please note that if you are a young person who has fulfilled your military service obligation, you can apply up to the age of 39 for an additional period of military service. In addition to the age condition, I would like to highlight three main conditions:
The first condition is that the combined annual income of the couple must be confirmed to be less than 50 million won. If you are an unmarried young person, you only need to consider your individual income, but if you are a dual-income couple, you should be careful not to exceed 50 million won in combined annual income. This can be said to be an advantageous condition if you are single.
Second, you must check whether the combined net assets of the couple are less than 361 million won. Net worth refers to the value taking into account real estate, cars, stocks, savings, debt, etc. Aside from other assets, liabilities will be the main concern. Will my debt cause me to struggle with the means test? My answer is NO! no see. Since liabilities are excluded from assets, they are not considered to be a major hindrance. In fact, I would like to tell you that you do not need to worry because I have never had any problems with credit loans when applying for a rental deposit loan for young people.
Lastly, you must be homeless. All loan products supported by the Housing and Urban Fund are aimed at people who do not own a home. Please note that this loan product is not available if you already own a home.
Houses eligible for youth-only guaranteed monthly rent loans are houses or officetels with a rental area of less than 60㎡. It would be good to note that the exclusive area is small compared to other jeonse loans.
Youth-only guaranteed monthly rent loans are divided into two parts: rental deposit and monthly rent, and the loan limit is determined. Among these, it may be more beneficial to borrow the rental deposit. This is because monthly rent is a monthly expense that requires additional income when repaying the loan, but the rental deposit can be returned from the landlord at the end of the rental period and used to repay the loan. Therefore, it is advisable to consider your individual circumstances and choose whether a rental deposit or monthly rent is more suitable.
※ If you borrow both the rental deposit and monthly rent: The loan limit is the total amount of ‘rental deposit + monthly rent loan (24-month converted amount)’ within 80% of the rental amount.
One of the most important things to consider when applying for a loan is the interest rate. The youth-only guaranteed monthly rent loan is a product supported by the Housing and Urban Fund and offers low interest rates.
The initial loan period provided to young people is 25 months, which can be used for approximately 2 years and 1 month. Even after the loan period expires, it can be extended up to four times, up to a maximum of 10 years and 5 months.
For a new contract, you can apply within 3 months from the date of payment of the balance written on the rental agreement or the move-in date written on your resident registration certificate. For a renewal contract, you must apply within 3 months from the contract renewal date. Applications for monthly rent loans with a guarantee for young people can be made both online and offline.
The documents required to apply for a youth-only guaranteed monthly rent loan are as follows.
※ Required documents can be issued by the National Health Insurance Corporation, National Tax Service Hometax, and Government 24.
In this post, we learned detailed information about the 2023 youth-only guaranteed monthly rent loan. We hope this information can be helpful to young people who are burdened by housing costs, and if you have any questions, please feel free to contact us!
previous post
next post
Comment
Save my name, email, and website in this browser for the next time I comment.
