Mon, Dec 22, 2008 - Page 3 News List

Agency welcomes public to apply for housing subsidy

STAFF WRITER, WITH CNA

The second round of applications for a government housing subsidy to help cover rent and interest payments has opened, the Construction and Planning Agency said yesterday, welcoming eligible families to apply at their local household registry office.

The government will offer a subsidy of up to NT$3,000 per month for one year to eligible families toward their rent, the agency said.

The government will also subsidize the interest payments of new homebuyers on loans of up to NT$2.2 million (US$60,000) with a 20-year repayment period.

Those who take out loans of up to NT$800,000 to do home repairs with a 15-year repayment period are also eligible to apply for subsidies to help pay the interest, the agency said.

Applications for the rental subsidy are due on Dec. 31, while applications for subsidized home loans must be received by Feb. 25, the agency said.

The agency first announced the program earlier this year, with the first application period closing on Aug. 15.

For the second application period, up to 8,000 rental subsidies are available, along with 25,445 home loan subsidies and 3,720 home improvement subsidies, the agency said.

The preferential interest rate on loans will be 1.617 percent, with a lower rate of 1.042 for disadvantaged families.

The central bank lowered its benchmark interest rate by three-quarters of a percentage point earlier this month.

The subsidies will be administered in conjunction with another preferential home loan program launched on Sept. 22, under which the government has allocated NT$200 billion to offer qualified households loans in Taipei City and Taipei County, the agency said.

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