The Housing and Urban Guarantee Corporation (HUG) stated on the 3rd that it will consider the tenant's repayment ability during the screening of Jeonse loan guarantee starting from June.
Until now, guarantees were possible for up to 80% of the Jeonse deposit, with 400 million won in the metropolitan area and 320 million won in other regions; however, to prevent excessive Jeonse loans, repayment ability criteria will be included in the guarantee limit calculation.
Accordingly, like the Korea Housing Finance Corporation (HF) and SGI Seoul Guarantee, HUG will also conduct the Jeonse loan guarantee screening by reflecting the borrower's income and existing loans.
This measure will be applied to new applicants from June, and if existing guarantee users extend their loans, the existing guarantee limit will continue to apply.
In mid-April, an online service will be introduced on the HUG website where users can enter information such as income and liabilities to check the expected guarantee limit in advance.