Meaning of "Interest-free interim payment"
This 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.
"Since this apartment came with interest-free interim payments, I was able to manage my funds without worrying about interest until move-in."
Related slang words
Balcony ExtensionThis construction method involves structurally expanding and integrating the balcony space with the living room or bedroom to create a more spacious living area.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.Three Rental LawsThis refers to three systems established to robustly protect tenants’ rights and reduce disputes in lease agreements (related to the protection of security deposits for residential and commercial tenants, regulations regarding lease renewals, and the legal relationships during the lease term).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.Status BarThis is a screen (window) that displays the player's current status—including stats, skills, health, mana, and buffs—at a glance.Bejimok LoanThis 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.Sweet potatoThis refers to a state of feeling stifled or short of breath, as if one has eaten a sweet potato, or to the frustration of feeling stuck because things aren’t moving forward.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.