A government housing subsidy program to help young couples renting property or borrowing to buy a home will open for applications today, the Ministry of the Interior announced yesterday.
Under the program, the government will provide 10,000 households a NT$2 million (US$58,823) government-subsidized home loan that will be interest-free for the first two years, and 20,000 opportunities for a rental subsidy of NT$3,600 per month for two years, the ministry said.
Eligible applicants for the preferential home loan will include middle-and-low income earners aged 20 to 40 who were married within two years of the date of application and who are new home buyers, or those aged 20 to 45 who have children and are seeking a new home.
Based on the income criteria set by the ministry, households whose annual incomes rank below 80 percent of wage earners in their area of residence are eligible to apply for the home loans.
Falling within this range will be households whose annual income does not exceed NT$2.31 million in Taipei City, NT$1.72 million in Kaohsiung City and NT$1.52 million in the rest of the country.
As for the rental subsidy, applicants must be couples aged 20 to 40 who were married within two years of the application date, have their own home and whose household annual incomes fall in the bottom 60 percent of wage earners in their place of residence.
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