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Officer buying a home is entitled to preferential interest rates

Officer buying a home is entitled to preferential interest rates

HCM City Department of Finance said that it is consulting with concerned agencies and units on raising the lending limit for public officials and employees who are paid from the budget to submit to People’s Committee of HCM rview.

Ho Chi Minh City is expected to raise the level of housing loans for low-income people from the city budget from VND 500 million to VND 600 million / case. According to regulations, each individual can only borrow up to VND500 million, but not more than 70% of the apartment value.

Officer buying a home is entitled to preferential interest rates
Officer buying a home is entitled to preferential interest rates

Maximum loan term is 15 years. The lending interest rate is 4.7% / year, loan interest is calculated on the basis of debt reduction. Collateral to secure the loan is the house expected to buy with legal papers in accordance with the law.

Borrowers must have permanent residence in Ho Chi Minh City.  At the same time, it is possible to finance prepaid purchases of at least 30% of the value of the apartment, proving a stable source of income to pay the loan and interest.

From the beginning of the year to now, the Housing Development Fund in HCMC. HCM has disbursed about VND120 billion of housing loans for low-income people as public servants, reaching 40.86% of the plan. According to statistics of the Housing Development Fund in HCMC. From the implementation of the program to the end of August, 2018, funds have disbursed to about 4,210 officials, civil servants of the city. HCM created house with total disbursement amount about VND1,585 billion.

Program for people from the budget of the city. Including officials, civil servants and employees of departments, districts, administrative agencies in the area of ​​salaries from the budget of Ho Chi Minh City, people’s armed forces, people’s army, the People’s Police and the militia and self-defense force.

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Officer buying a home is entitled to preferential interest rates
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