The Ministry of Interior and Land Management Administration announced that applications for housing subsidies for 2024 have begun, and the application period is from 9 am on August 1 to 5 pm on August 30.
The application items accepted include "Interest Subsidy for Self-Purchase Home Loan" and "Interest Subsidy for Renovation Home Loan", and can be matched with the New Qing'an Loan.
As long as you meet the four major conditions, you can apply for housing subsidies.
The Land and Resources Department stated that people who apply for interest subsidies on home loans for self-purchase or renovation must meet four conditions: annual household income, average monthly income per person, household movable property limit, and household real estate limit.
For example, if your household registration is in Taipei City and you apply for self-purchased residential loan interest subsidies, your family's annual income must be less than 1.64 million yuan, the average monthly income per person must be less than 68,772 yuan, and the household movable asset limit must be less than 7.15 million yuan, while the household real estate The limit needs to be less than NT$9.4 million.
In addition, "Interest Subsidy on Self-Purchase Home Loan" and "Interest Subsidy on Renovation Home Loan" can be combined with the New Youth Loan.
For those who qualify for the "Self-Purchased Home Loan Interest Subsidy", the maximum preferential loan limit is NT$2.5 million in Taipei City, NT$2.3 million in New Taipei City, and NT$2.1 million in other counties and cities.
As for the priority of housing subsidies, "ratings ranking subsidy" will be adopted. Applicants from disadvantaged families and special financial needs will receive additional points or enjoy lower preferential interest rates.
The first type of preferential interest rate, for relatively poor and low-income households, is the Postal Savings Bank's 2-year regular flexible interest rate minus 0.533%.
The second type of preferential interest rate is the Postal Savings 2-year fixed flexible interest rate plus 0.042% for general households.
The current fixed-term flexible interest rate set by the government is 1.72%. After conversion, the interest rate for ordinary households will become "1.72% + 0.042% = 1.762%", and the maximum subsidy period is 20 years.
For example, if you take a Xinqingan loan and buy a house in Taipei City, you can get a full loan of 10 million from Xinqingan and pay it in 40 years. The remaining interest for the first two years is 1.775%, and the remaining 38 The year is 2.275%.
But when you apply for a housing subsidy, the first half of the latter part is excluded from Xinqingan, and the preferential subsidy is added with a 20-year interest rate, which is immediately reduced to 1.762%, which means that you have a full 22 years, an extremely exaggerated preferential interest rate!
If you only apply for a general loan of 2.185%, there is an additional discount of 0.25% before July 31, 2015.
In other words, if you apply now, the original interest rate for the next 20 years will be 1.762 %, but it will be reduced to 1.512% for you in the first two years. Doesn’t it sound super good?
Then there are housing subsidies, because they are extremely exaggerated preferential interest rates, so of course there are still some restrictions. You need to pay a little attention to them. The most important ones are these three violations:
1. No second room is allowed
The housing subsidy is to help young people easily buy a house, so during the 20 years of the subsidy, you must not be tempted to speculate in houses or buy a second house.
2. The spouse cannot own a house
You happen to be getting married within the 20-year period when applying for the subsidy. Remember to ask your significant other first if there is a house in Taiwan that is in her name.
3. Cannot inherit the house
Everyone should understand this! It must usually be the elders of the family who go to Xianyun Yehe and leave you a house or something like that. There shouldn't be a passerby who suddenly gives you a house!
It should not be difficult to see from the above three illegal conditions that the housing subsidy launched by the Ministry of Interior and Land Administration is based on the premise that a family can only own a single house and real estate.
What if you accidentally break the rules?
It’s just that it was confiscated! Otherwise, what else can we do!
If you accidentally get caught violating the rules, the interest rate will not be restored to your new Qing'an follow-up 2.275% Oh!
At present, the Land Bank told me that as long as there is a violation, the interest rate will be directly upgraded to 2.62%. That is, if you have used the housing subsidy within 20 years, you will be required to pay for it for as many years.
For example, you have used the subsidy for ten years, and then you get a second house. That is "2.62% – 1.762% = 0.858% x 10 years."
However, this is only the most ideal algorithm at this stage. If there are floating adjustments to the fixed-term flexible interest rate in the next few years, it will be recalculated based on the interest rate at that time.
You said that the 20-year subsidy period is very long, and the discount is really good, but it shouldn’t really require me to change my job to become a magician!
What if one day, a tall, rich and handsome man comes riding on a white horse, or a barefooted white and rich woman rides on a pumpkin carriage, and they happen to own real estate, but they want to get married with me? What should I do? Is there any way to avoid this violation?
The most brutal way is that I have money!
As long as you pay off your entire loan at once, there will be no violations at all!
If you don’t have enough money, just find a way to refinance it. This is also a good way to pay off the loan in one go. If the house you bought happens to increase in value, refinancing the loan to use more money to invest is really a good way!
Then, the "Renovation Home Loan Interest Subsidy" is actually a bit too difficult to use. If you want to buy a house for more than ten years, you need to take before-and-after photos of the areas you want to repair to the government. Moreover, due to the time difference between the two subsidies, you cannot apply for them at the same time. , I will not introduce it further. If the old house at home really needs to be repaired, then please search online.
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