Newborn Special Loan
Overview of Newborn Special Loan
A government policy loan introduced to drastically reduce the housing cost burden of households that have given birth, supported in two forms: housing purchase funds and lease funds.
Key Features
- Ultra-low interest rate: 1-3% special interest rate applied, significantly lower than commercial mortgages
- Loan limit: Generous limits up to 500 million won for purchase and 300 million won for lease
- Refinancing available: Can switch from existing high-interest loans to lower rates (including 1-home owners)
Application Requirements
Must be a homeless household head (1-home owners allowed for refinancing) who has given birth within 2 years as of the loan application date, meeting income and asset standards.
👤 Eligibility
Homeless household heads who gave birth within 2 years (1-home owners allowed for purchase refinancing)
📝 How to Apply
Apply online via Gigeum e-Deundeun website or visit 5 major trustee banks
Related Policies
Youth Housing Dream Subscription Bankbook
A subscription product that provides a higher preferential interest rate than existing bankbooks, as well as tax exemptions on interest income and income deductions to help youth buy a home.
👤 Homeless youth aged 19-34 (annual income 50 million won or less)
Stepping Stone Housing Loan
A low-interest housing purchase loan supported by the government for the housing stability of low-income people without homes, offering special preferential rates for newlyweds and multi-child households.
👤 Homeless household heads with a combined annual income of 60-85 million KRW or less (when purchasing a house worth 500-600 million KRW or less)