Youth Jeonse Loan Guarantee: Who Qualifies and What You Get
Young people in South Korea can access low-interest loans to help cover the high cost of Jeonse housing deposits.
This scheme provides financial guarantees to help young people secure housing by making it easier to obtain loans for large rental deposits.
Who it's for
This is designed for young people under the age of 34 who have limited assets.
What you get
You can access low-interest loans to help pay for the Jeonse deposit, which is the large upfront sum required for certain types of rental housing.
What it costs you
There is no direct cost to apply, but you will need to undergo a credit check and visit a bank to complete the process.
The catch to know
The specific property you intend to rent must meet certain appraisal criteria to qualify for the guarantee.
How to apply
- Check your eligibility based on your age and assets.
- Ensure the property you are looking at meets the required appraisal standards.
- Visit a bank to undergo a credit check and submit your application.
- Follow the instructions on the official portal for more details: https://www.hf.go.kr