Meaning of "Bejimok Loan"
This is a government-backed loan program that provides funds for jeonse deposits at low interest rates to help ensure housing stability for low-income households.
"It’s hard to buy a home quickly, but using a support loan can help reduce the financial burden of a jeonse deposit."
Related slang words
Stepping Stone LoanThis is a representative low-interest home purchase loan product offered by the government to help low-income households without homes buy a home.Homeownership LoanThis is a program that allows individuals to obtain a long-term, fixed-rate mortgage with installment payments, provided by the Korea Housing Finance Corporation.Date of CertificationThis refers to the procedure whereby the competent authority records the date (by stamping or registering the document) on the lease agreement to officially recognize the effective date of the contract, thereby securing priority in the repayment of the security deposit.Change of AddressNotifying the relevant authorities of the move to a new residence; this is a necessary procedure for establishing legal rights, such as the right of opposition, after moving.Right of set-offThis is the legal right that allows a tenant to continue occupying the leased property until they assert their tenancy rights and receive a refund of the security deposit (or an equivalent amount), even if the landlord changes.Interest-free interim paymentThis benefit allows the developer to cover the interest on the interim payments made under the pre-sale contract, thereby reducing the initial financial burden on the buyer.Establishment of a Jeonse LeaseThe act of securing legal protection by registering the tenant’s right to the return of the security deposit as a **jeonse right** in the official property registerBalcony ExtensionThis construction method involves structurally expanding and integrating the balcony space with the living room or bedroom to create a more spacious living area.