Settling down thanks to social housing loan policy

Implementing the program "Having a house" associated with social security policy, the City Branch of the Bank for Social Policies has increased the disbursement of the social housing loan credit program to help people have the conditions to rent or buy social housing; build or repair houses to stabilize their lives.

The social housing credit loan program helps people settle down and stabilize their lives. In the photo: Staff of the Lien Chieu District Social Policy Bank transaction office support customers in completing loan applications. Photo: LAM PHUONG

Practical and meaningful solutions

In early 2025, Mr. Doan Duc (Hoa Tien commune, Hoa Vang district) went to the Transaction Office of the Social Policy Bank of Hoa Vang district to submit a loan application for the social housing credit program to build a new house. After assessing the application and the customer's financial capacity, the bank disbursed him a loan of 500 million VND to build a new house. "The old house that was built many years ago is now degraded and does not ensure the living conditions of the family. Building a new house requires a large amount of money, while my income is limited. The social housing credit program is a practical and meaningful solution to help my family have the funds to build a new house," Mr. Duc shared.

Ms. Nguyen Thi Thu Phuong, Deputy Director of the Transaction Office of the Social Policy Bank of Hoa Vang District, said that, recognizing the significance and importance of the social policy housing credit program in implementing the settlement policy, the transaction office has strengthened the appraisal of documents and disbursement of loans. Since the beginning of the year, the transaction office has disbursed loans to 41 customers with a total amount of VND 10,837 billion. Up to now, the total outstanding debt from this program is more than VND 123 billion with 332 customers borrowing capital.

At the end of March 2025, Ms. Nguyen Kieu Oanh (Xuan Ha Ward, Thanh Khe District) received a loan of 350 million VND from the Thanh Khe District Social Policy Bank Transaction Office to build a new house. Thanks to the capital, her family boldly demolished the old house and built a new, more spacious 3-storey house. Similarly, Ms. Vu Thi Dung (Thanh Khe Tay Ward, Thanh Khe District) also received a loan of 325 million VND to build a new house and improve living conditions. "The application appraisal process was quite quick and smooth. Thanks to the loan from the bank, my family had enough money to build a house," said Ms. Dung.

Settle down and make a living

In mid-2024, after receiving information that the investor opened the sale of social housing apartments at Bau Tram Lakeside Green Urban Area (Hoa Hiep Nam Ward, Lien Chieu District), Mr. Nguyen Van Hung (Hoa Phong Commune, Hoa Vang District) submitted a loan application to buy an apartment and was disbursed a loan of 800 million VND by the Hoa Vang District Transaction Office. With the loan and his own savings, Mr. Hung bought a 2-bedroom apartment with an area of ​​over 50 square meters as a place to live.

Every month, after receiving his salary, he spends about 7 million VND to pay off the principal and interest, and the rest is used for living expenses. “Without the social housing loan credit program, I would not be able to access social housing because I cannot afford it. This is a very humane and meaningful policy, suitable for the income of most workers,” Mr. Hung shared.

Mr. Nguyen Dinh Nam (Hoa Khanh Bac Ward, Lien Chieu District) has just bought a social apartment in Bau Tram Lakeside Green Urban Area thanks to a loan of 300 million VND from the social housing credit program. After settling down, Mr. Nam and his wife feel secure in their work, working hard to increase their income to take care of their family.

Mr. Tran Oanh Vu, Director of the Lien Chieu District Social Policy Bank Transaction Office, said that the social housing loan program is one of the two major programs that the transaction office is focusing on promoting. In the first 5 months of the year, the district transaction office disbursed loans to 278 customers with the amount of 70.5 billion VND. Up to now, the total outstanding debt of the social housing loan program has reached 294.6 billion VND with 764 customers borrowing, accounting for 32.29% of the total outstanding debt.

A representative of the City Social Policy Bank Branch said that the social housing loan credit program is implemented in accordance with the provisions of Decree No. 100/2024/ND-CP of the Government detailing a number of articles of the Housing Law on the development and management of social housing.

Eligible borrowers are people with revolutionary contributions, martyrs' relatives who are eligible for housing improvement support; poor and near-poor households in rural and urban areas, areas frequently affected by natural disasters and climate change; low-income people in urban areas; workers and laborers working at enterprises, cooperatives, and cooperative unions inside and outside industrial parks.

In addition, the subjects are officers, professional soldiers, non-commissioned officers of the people's armed forces, police, civil servants, workers and defense officials currently serving in the army; cadres, civil servants, public employees,...

In case customers borrow to buy or rent social housing, the maximum loan amount is 80% of the value of the purchase or rental contract. In case customers borrow to build new houses or renovate or repair houses, the maximum loan amount is 70% of the estimated value or capital usage plan, not exceeding 1 billion VND and not exceeding 70% of the value of the property securing the loan.

The lending interest rate is decided by the Prime Minister at each time, currently 6.6%/year, maximum loan term 25 years. Since the beginning of the year, the whole city has disbursed capital to 731 customers of the social housing loan program, totaling 169 billion VND. As of May 20, the total outstanding debt of the social housing loan program in the whole city reached 1,054 billion VND with 2,790 customers still in debt. Thereby helping thousands of poor families, low-income workers, cadres, civil servants, public employees, ... have conditions to settle down, stabilize their lives, contributing to the effective implementation of the city's "3 yes" and "4 safe" policies.

LAM PHUONG

Source: https://baodanang.vn/xa-hoi/202505/an-cu-nho-chinh-sach-cho-vay-mua-nha-o-xa-hoi-4007804/