The Newborn Special Mortgage, which provides low-interest support for homebuying and jeonse deposits for households with newborns, has many eligibility numbers, and the limit was reduced once by the June 27, 2025 household debt measures. The current ceiling is 400 million KRW for purchase funds (Didimdeul) and 240 million KRW for jeonse funds (Beotimok), with a minimum preferential rate starting in the 1% range applied for a set period. Eligibility is divided into three gates: birth, income, and assets — as of the July 2026 MyHome Portal public notice, here are the requirements, limits, and application deadlines.
Eligibility — Three Gates: Birth, Income, Assets
Based on the guidance from the Ministry of Land, Infrastructure and Transport's MyHome Portal, the target is households without homeownership that have given birth (or adopted) within two years of the loan application date. Applicable for children born on or after January 1, 2023, and all household members including the household head must be without property ownership — subscription rights and cooperative housing admission rights are also treated as property ownership. The income requirement is combined household income of 130 million KRW or less as the baseline, but dual-income couples where both spouses have income may qualify with combined income up to 200 million KRW (each no more than 130 million KRW). Note that even with the dual-income relaxation, the individual cap applies simultaneously — if one spouse's income exceeds 130 million KRW, the household is ineligible even if the combined total is below 200 million KRW.
Asset requirements differ for purchase and jeonse. For 2026, the purchase loan requires combined net assets of 511 million KRW or less; the jeonse loan requires 345 million KRW or less. Cases where the income qualifies but net assets are the obstacle are not uncommon, so calculating net assets including deposits and vehicle value first is the right order of operations.
Limits and Rates — Reduced Figures After the June 27 Measures
The purchase loan applies to properties with exclusive-use area of 85 m² or less (100 m² in eup/myeon, rural townships) and appraised value of 900 million KRW or less, with a limit of 400 million KRW. LTV is 80% for first-time buyers (70% in regulated zones and the Seoul metropolitan area), and DTI is 60%. Even if the nominal limit is 400 million KRW, LTV and DTI screening may reduce the individual limit first, so the actual available amount must be calculated separately using your income and property price. The jeonse loan applies to properties with deposits of up to 500 million KRW in the Seoul metropolitan area and 400 million KRW elsewhere, up to 80% of the deposit, maximum 240 million KRW. According to Banksalad's summary, contracts signed before June 27, 2025 apply the prior limits of 500 million KRW for purchase and 300 million KRW for jeonse — a single contract date can change the limit by nearly 100 million KRW.
| Category | Purchase Loan (Didimdeul) | Jeonse Loan (Beotimok) |
|---|---|---|
| Loan limit (100 million KRW) | 4.0 | 2.4 |
| Rate (%) | 1.8–4.5 | 1.3–4.3 |
| Preferential rate period (years) | 5 | 4 |
| Eligible property | Appraised value ≤ 900M KRW, ≤ 85 m² | Deposit ≤ 500M (metropolitan) / 400M (other) KRW |
| Net asset requirement (100 million KRW) | ≤ 5.11 | ≤ 3.45 |
Rates are not uniform. Based on Banksalad's summary, the purchase loan ranges from 1.8–4.5% per annum depending on income bracket and loan term (10, 15, 20, or 30 years); the jeonse loan ranges from 1.3–4.3% per annum depending on income and deposit size — lower income and shorter maturity bring the rate closer to the floor. The preferential rate applies for 5 years on purchase loans and 4 years on jeonse loans, with added benefits for additional births. Each additional child reduces the rate by 0.2 percentage points and extends the preferential rate period — up to 15 years maximum for purchase loans and 12 years for jeonse loans. For example, if a second child is born after the loan is executed, the rate drops by 0.2 percentage points and the purchase preferential period extends by 5 years to 10 years total.
Key Points Before Applying — Deadline and Refinancing
This loan has an application deadline. Based on Banksalad's summary, the purchase loan must be applied for before ownership transfer registration or within 3 months after registration; the jeonse loan must be applied for within 3 months of the lease contract's final payment date or move-in date. Refinancing from an existing loan is also available — purchase loan refinancing is available only for single-property owners within the remaining balance of the existing mortgage, and separate income requirements apply. The five handling banks are Woori, Shinhan, KB Kookmin, NH Nonghyup, and Hana.
The preferential rate is not permanent — the full design of this loan includes whether you can continue repaying after it reverts to the standard rate in 5 years.
The premise must also be that policy loan requirements are not fixed. The figures in this article are based on the July 2026 MyHome Portal and financial institution public data, and in practice the June 27, 2025 measures alone reduced the limit from 500 million to 400 million KRW. As long as the household debt management posture continues, requirements may be tightened again; conversely, they could be relaxed in an environment of expanded birth incentives — the current public notice always takes precedence at the time of application.
Checklist
Pre-application checklist in order of requirements:
- Is the birth date on or after January 1, 2023, and is the application date within 2 years of the birth?
- Are all household members without homeownership — subscription rights and housing admission rights are also treated as property ownership?
- For dual-income: does the household meet both combined income ≤ 200 million KRW AND each individual income ≤ 130 million KRW?
- Is the net asset amount under 511 million KRW for purchase or 345 million KRW for jeonse (2026 basis)?
- Is the contract date before or after June 27, 2025 — the applicable limits differ?
- Has the application deadline (within 3 months of registration or move-in) not passed?
- For refinancing — confirm first the separate requirements that it is for a single-property owner and within the remaining balance of the existing loan?
- Is there a repayment plan in place assuming the rate level after the preferential period ends?
