On the afternoon of November 28, at a press conference on the socio-economic situation of Ho Chi Minh City, Mr. Pham Huu Vinh, Head of the Appraisal Department of the City Housing Development Fund, informed about the loan support policy to help officials, civil servants, public employees and other priority groups access housing with preferential interest rates.
According to the direction of the Ho Chi Minh City People's Committee, this loan policy applies to many groups of subjects, including: Officials, civil servants, and public employees working at departments, branches, districts, and administrative agencies receiving salaries from the city budget.
Ho Chi Minh City reduces interest rates for civil servants and public employees to 3.2%/year for home loans. (Illustration photo)
The People's Armed Forces including the People's Army, the People's Police, the Militia and Self-Defense Force; full-time trade union officials and employees of the City Trade Union, civil servants and public employees receiving salaries from trade union financial sources; and employees at the City Tax Department are also eligible for support.
In particular, according to Decision No. 4899 dated October 31 of the Ho Chi Minh City People's Committee, subjects belonging to agencies such as the City People's Court, the City People's Procuracy, the City Civil Judgment Enforcement Department, the City Customs Department, the City State Treasury, the City Social Insurance, the City Market Management Department, the State Bank of Vietnam, Ho Chi Minh City Branch, the City Statistics Office and the City Department of Foreign Affairs are also added to the support list.
The home loan interest rate for the above groups is currently preferential at 3.2%/year, calculated on a decreasing balance. This is a significantly lower interest rate than the previous 4.7%/year.
“This reduction will create favorable conditions for officials, civil servants and public employees to access housing ,” Mr. Pham Huu Vinh emphasized.
Regarding the limit, borrowers can receive support of up to 900 million VND/application, not exceeding 70% of the value of the house or apartment. The maximum loan term is up to 20 years.
To qualify for a loan, borrowers must meet the following criteria: The borrower and their spouse must not own real estate and have never received housing or land support from the State.
Permanent residence in Ho Chi Minh City and continuous working time of 3 years or more.
Borrowers need to pay at least 30% of the value of the house or apartment in advance and prove stable income to ensure the ability to repay the loan.
In particular, borrowers who have purchased social housing can still be considered for loans according to the policy of the City People's Committee.
The house or apartment to be purchased will be used as collateral. However, this property must have valid legal documents to ensure the rights of the parties involved.
This policy is expected to help officials, civil servants, public employees and priority labor force have the opportunity to own housing, while promoting stability and settlement in Ho Chi Minh City.
Source: https://vtcnews.vn/can-bo-cong-chuc-vien-chuc-tp-hcm-duoc-vay-mua-nha-voi-lai-suat-chi-3-2-nam-ar910222.html
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