HF Offers Higher Guarantee for the Youth Housing Program
- Date 2017-11-17
- Views 1,169
HF Offers Higher Guarantee for the Youth Housing Program
- For public housing providers, the maximum HF guarantee limit upped to 90%
Korea Housing Finance Corporation (HF, CEO Kim Jae-Chun) comes out to support the Seoul Metropolitan Government's Youth Housing Program* as part of its efforts to promote housing stability for young adults.
* Youth Housing Program: A program launched to provide housing for college students and graduates and newly married couples
* HF Guarantee Scheme: A scheme in which HF provides a guarantee to a housing provider that seeks to secure a loan from a bank
With the guarantee level raised, public housing providers that participate in the Youth Housing Program will face fewer difficulties in raising funds for their housing development projects.
In addition, HF offers greater support to housing developers carrying out government-led projects with legal and institutional support from their local government. HF classifies such housing developers as quasi-public housing providers and offers them more favorable guarantee rates and fees.
An HF official said, “We will continue to improve our Guarantee Scheme to ensure housing stability for young adults and newlywed couples. We will also actively respond to changes in the housing finance market.”