Title: New Housing Loan Policy Offers Substantial Support for Families
Tehran – In a significant move to support family welfare and home ownership, new guidelines have been detailed for a major housing loan program, offering substantially increased credit limits for families with children.
Enhanced Loan Amounts for Families
The core of the new policy links the loan amount directly to the number of children in a family. For each child under the age of 20, the ceiling for the home purchase loan increases by 25%. Specifically:
- One child: 25% increase
- Two children: 50% increase
- Three children: 75% increase
- Four children: 100% increase
This means a couple with four children under 20 will see their total housing package—combining the standard purchase loan and a separate renovation loan—rise to a significant 2.28 billion tomans.
Flexible Repayment Terms
To further ease the financial burden on families, the loan repayment period is also extended. The policy allows for an additional two years of repayment for each child under 20. This extension can be applied for up to five children, allowing for a maximum repayment period of ten years, providing families with greater long-term financial flexibility.
Initial Investment Requirement
Prospective applicants are required to purchase 4,560 priority vouchers for the housing loan. With current market rates for these vouchers, the initial cost for a family qualifying for the full 2.28 billion toman package would be approximately 615 million tomans. After this initial investment, a substantial net amount of nearly 1.6 billion tomans would remain available to the family for their housing needs.
This initiative underscores the government’s focus on providing tangible economic support to families, facilitating their access to housing and contributing to social stability.