Realizing the dream of housing for low-income people

Many low-income households and policy beneficiaries have had houses thanks to social housing loans.

Mr. Nguyen Phuong Thao, a 2/4-class disabled veteran from Le Hong Phong Ward (Thai Binh City) has had to live in a small, cramped house for many years. Recently, he was lent 400 million VND by the Social Policy Bank (CSXH) Provincial Branch, along with his savings, to buy a social housing unit of over 50 square ^meters in Vu Phuc Commune Apartment Building (Thai Binh City). Mr. Thao shared: This has been a long-standing dream of my wife and I. Immediately after completing the loan procedures, the investor handed over the apartment to my family. My family is currently completing the interior of the house to move in mid-April. Without policy credit capital, it would be difficult for my wife and I to buy a cheap house as a nest when we retire.

Receiving the house in Vu Phuc apartment building just 1 day after Mr. Thao's family, and having the chance to be neighbors, Mr. Nguyen Nhu Quy, a driver, excitedly said: My wife and I have a low income and are raising a small child, so for many years we have only wished to have our own house to live in that is spacious and comfortable. Seeing that there is a social housing loan program of the Bank for Social Policies, Provincial Branch, with a maximum loan of up to 80% of the house value, my wife and I immediately applied for a loan. Thanks to this very humane policy, my small family will soon have a place to live, feel secure to go to work to earn money to pay off bank loans, and increase income.

If in Thai Binh city, low-income people and policy beneficiaries mainly borrow capital to buy apartments suitable for their functions and counterpart resources, in districts with less social housing, households mainly borrow to build new houses or repair old houses. Mr. Bui Minh Son's family, Diem Dien town (Thai Thuy) is living in a new house through this meaningful credit program. He shared: I was able to borrow 600 million VND to invest in building a solid house, replacing the old, degraded house, helping us stabilize our living conditions, no longer worry about storms and feel secure at work.

Mr. Son's family is one of 70 low-income households, policy beneficiaries of Thai Thuy district, who have been able to borrow over 23 billion VND to build new and repair houses. Mr. Nguyen Van Hoai, Deputy Director of the Transaction Office of the Bank for Social Policies of Thai Thuy district, said: The unit actively coordinates with the government and socio-political organizations to promote the dissemination of the purpose, meaning, mechanism and policy of social housing loans; review the subjects, if eligible and in need of loans, create favorable conditions in terms of documents, procedures, and quick disbursement so that families can access capital and soon live in new, solid houses.

The social housing loan program is implemented according to Decree No. 100/2024/ND-CP of the Government, which specifically stipulates the subjects, conditions, loan amounts, interest rates and loan terms. Accordingly, the maximum loan amount is 80% of the value of the house purchase or hire-purchase contract; for new construction or renovation or repair of houses, the maximum loan amount is 70% of the estimated value, not exceeding 1 billion VND. The interest rate is equal to the lending interest rate for poor households prescribed by the Prime Minister in each period. The maximum loan term is 25 years from the date of disbursement of the first loan. Mr. Le Hai Vu, Deputy Director of the Provincial Branch of the Bank for Social Policies, said: The social housing loan program for low-income people, workers, civil servants, cadres, armed forces and policy beneficiaries has always received attention from the Party and State, preferential capital and direction from relevant units to implement. In 2025, before receiving additional capital from the Central Government, the Provincial People's Committee supported an investment trust capital of 10 billion VND for social housing loans. From the beginning of the year, the Provincial Branch of the Bank for Social Policies directed staff of professional departments to coordinate with socio-political organizations receiving entrusted loans to actively review and disburse capital to people. Up to now, the whole province has 619 households enjoying the social housing loan program, with a total outstanding debt of over 222 billion VND. In particular, the social housing loan program has more than 140 households receiving loans with an outstanding debt of over 48 billion VND. In 2025, the expected credit growth of the province's social housing loan program is 70 billion VND. If demand exceeds the bank, it will propose to the superior to continue to supplement, ensuring that all eligible households with needs can borrow. In the coming time, the Bank will continue to coordinate with the entrusted units as well as related units to focus on propaganda so that people know and understand the program. If qualified and in need of accessing this capital source, they will be able to access it quickly and conveniently to soon stabilize their residence and focus on developing their family economy. To access the capital source, people meet directly with the credit officer in charge of the area; the bank has also distributed leaflets with phone numbers so that borrowers can contact directly. The credit officer will advise on loan procedures, interest rates, and loan amounts for each purpose of using the loan capital...

To meet the demand for social housing, up to now, the province has planned 66 land plots with a total area of ​​about 137 hectares, about 46,881 apartments for social housing development. According to Decision No. 444/QD-TTg, dated February 27, 2025 of the Prime Minister on assigning targets for completing social housing in 2025 and the following years until 2030, Thai Binh province is assigned the target of completing 5,502 social housing apartments by 2030, of which 500 apartments will be in 2025. To complete and exceed the set target, meeting the demand for social housing, in 2025 the province plans to implement 24 social housing development projects with a total of over 1,700 apartments.

Mr. Pham Viet Anh, Deputy Director of Department of Construction

Staff of the Transaction Office of the Social Policy Bank of Thai Thuy district inspected the use of social housing loans of Mr. Bui Minh Son's family, Diem Dien town.

Filial Piety

Source: https://baothaibinh.com.vn/tin-tuc/9/221119/hien-thuc-giac-mo-an-cu-cho-nguoi-co-thu-nhap-thap