Iran Launches Major Housing Loan Expansion to Support Young Families
In a significant move to bolster family welfare and support the nation’s youth, a new housing finance initiative has been activated, making substantial loans available to eligible young couples. This policy is a direct implementation of the “Law for the Protection of the Family and Youthful Population,” reflecting the government’s commitment to addressing the housing needs of its citizens.
Boosting Loan Caps for Families with Children
A central feature of this initiative is a tiered system that significantly increases the maximum loan amount for families with children under the age of 20. The structure is designed to provide greater financial support to larger families:
- 1 Child: 25% increase to the base housing loan ceiling.
- 2 Children: 50% increase.
- 3 Children: 75% increase.
- 4 or more Children: 100% increase, effectively doubling the standard loan amount.
Financial Breakdown and Eligibility
Currently, the base housing loan for couples is set at 1 billion Tomans, with an additional 280 million Tomans available for home renovation. For a family with four children, this means the total combined loan ceiling can reach approximately 2.28 billion Tomans.
To qualify for this financial support, applicants are required to purchase 4,560 units of priority housing bonds. With current market rates for these bonds, the initial investment for the maximum loan is calculated to be over 615 million Tomans. After this initial cost, a net amount of nearly 1.6 billion Tomans would remain available to a qualifying family of four children.
Extended Repayment for Eased Financial Burden
Further supporting families, the loan repayment period is also extended based on the number of children. For each child under 20, the repayment timeline can be increased by two years, up to a maximum extension of ten years. This measure is intended to ease the monthly financial burden on young households, making the loans more manageable over the long term.
This comprehensive housing package underscores a strategic national effort to empower young couples and foster stable family environments through tangible economic support.