What is the Newborn Special Loan
Korea's Newborn Special Loan program offers below-market interest rates to homeless household heads who had a child born in 2023 or later, through either Didimdol (home purchase) or Beoteommok (jeonse deposit). Both products share the same common conditions: birth within 2 years of the loan application date, birth on or after 2023-01-01, and no-home household head status.
The exact interest rate for each income bracket is rendered via JavaScript on the official Housing and Urban Fund site and cannot be reliably fixed as a static value. This calculator therefore only shows the confirmed overall rate range and asks you to enter the actual rate quoted by your bank for the monthly-payment calculation.
This tool is a reference self-check based on official requirements and does not guarantee loan approval. Final review is conducted by the entrusted bank.
How do I check Newborn Special Loan eligibility
You need to meet all six conditions — combined income, net worth, child's birth date, home value or deposit, exclusive area, and no-home status — to be likely eligible. This calculator's self-check is a reference only; final eligibility is confirmed by the entrusted bank.
Self-check input order
- Enter your combined household annual income in units of KRW 10,000. Check the dual-income box if both spouses individually earn KRW 130 million or less.
- Enter your net worth. The threshold is updated yearly from Statistics Korea income-quintile averages — as of 2026 it is KRW 511 million for Didimdol and KRW 345 million for Beoteommok.
- Enter the child's birth year-month. It must be on or after 2023-01-01 and within 2 years of the loan application date.
- For Didimdol enter the appraised home value; for Beoteommok enter the jeonse deposit.
- Enter the exclusive area, and check non-metro eup/myeon if it applies for the relaxed area cap.
- Confirm no-home household head status. When every item is met, the overall assessment shows likely eligible.
Equal principal & interest monthly payment formula
Monthly payment = Principal × monthly rate × (1+monthly rate)^months ÷ ((1+monthly rate)^months − 1), monthly rate = annual rate ÷ 12 ÷ 100
- Principal = the loan amount you entered (KRW 10,000), converted to KRW
- Annual rate = the actual rate quoted by your bank (entered by you)
- Months = loan term in years × 12
Quick eligibility and payment answers
Combined income KRW 100 million, net worth KRW 400 million, child born 2024 — eligible for Didimdol?
Income of KRW 100 million is under the KRW 130 million cap, net worth of KRW 400 million is under the KRW 511 million cap, and a 2024 birth meets the 2023-01-01-or-later rule. You still need to meet the home value, area and no-home conditions for final eligibility.
Is combined income of KRW 210 million eligible?
Without dual-income status this exceeds the KRW 130 million cap and fails the income requirement. The exception only applies to dual-income couples where each spouse earns KRW 130 million or less, for a combined cap of KRW 200 million.
Dual-income couple earning KRW 120 million each, KRW 240 million combined — eligible?
Even with the dual-income exception the combined cap is KRW 200 million, so KRW 240 million exceeds it and fails the income requirement.
Does exactly KRW 511 million in net worth pass?
Yes — the Didimdol net worth threshold is KRW 511 million 'or less', so exactly KRW 511 million passes.
Does a child born in December 2022 qualify?
No — the Newborn Special program only covers children born on or after 2023-01-01, so a 2022 birth does not qualify.
What is the monthly payment on KRW 400 million at 3% annual for 30 years?
About KRW 1,686,416 per month, with roughly KRW 207,109,809 in total interest over 30 years (an example rate — use the rate actually quoted by your bank).
What about the Beoteommok cap of KRW 240 million at 2% for 20 years?
About KRW 1,214,120 per month, with roughly KRW 51,388,801 in total interest over 20 years (an example rate — use the rate actually quoted by your bank).
Didimdol vs. Beoteommok key requirements
| Item | Newborn Special Didimdol (purchase) | Newborn Special Beoteommok (jeonse) |
|---|
| Combined annual income | KRW 130M or less (KRW 200M combined if dual-income, each ≤130M) | KRW 130M or less (KRW 200M combined if dual-income) |
| Net worth (as of 2026) | KRW 511M or less | KRW 345M or less |
| Home value / deposit | KRW 900M or less | Metro KRW 500M / non-metro KRW 400M |
| Exclusive area | 85m² or less (100m² in eup/myeon) | 85m² or less (100m² in eup/myeon) |
| Loan cap | Up to KRW 400M | Up to KRW 240M |
| Interest rate range (annual) | 1.8%-4.5% | 1.3%-4.3% |
| Special rate period | 5 years base, +5 years per additional child, up to 15 years | 4 years base, +4 years per additional child, up to 12 years |
Frequently asked questions
How is Newborn Special Loan eligibility finally confirmed?
This calculator's self-check only shows whether the six reference conditions — income, net worth, birth, home value/deposit, area, and no-home status — appear to be met. Actual approval is decided by the entrusted bank after document review.
What is the exact interest rate for my income bracket?
The confirmed overall ranges are 1.8%-4.5% annual for Didimdol and 1.3%-4.3% for Beoteommok. The detailed bracket-by-bracket rate table is rendered via JavaScript on the Housing and Urban Fund site and isn't provided as a fixed figure here — check with your bank or the fund's official page.
Can I refinance an existing jeonse loan into Newborn Special Beoteommok?
Refinancing means switching an existing jeonse loan to Newborn Special Beoteommok terms, and the income, net worth and housing conditions apply the same as a new application. Whether refinancing is possible and the exact procedure must be confirmed with the entrusted bank.
Can I choose graduated payment instead of equal principal & interest?
This calculator only computes equal principal & interest. Graduated and other repayment methods may be offered as a bank-specific option, so confirm separately with your bank.
What happens to the rate after the special period ends?
The special rate applies for a base 5 years for Didimdol (4 years for Beoteommok), extended by 5 years (4 years for Beoteommok) per additional child born, up to 15 years (12 years for Beoteommok). After that, the rate converts to whatever the bank separately quotes at the time, so confirm the exact conversion rate with the entrusted bank.
The eligibility self-check is for reference only; final review is conducted by the entrusted bank. The exact rate for each income bracket must be confirmed through the bank's official quote, and the net worth threshold is updated yearly (shown as of 2026). This tool does not guarantee loan eligibility.
Sources: Housing and Urban Fund — Newborn Special Didimdol Loan, Housing and Urban Fund — Newborn Special Beoteommok Jeonse Loan