Realizing the dream of housing for low-income people

Increasing the loan amount for housing construction, renovation and repair; reducing preferential loan interest rates for social housing are steps to concretize the determination of the Party and State in solving the housing problem for low-income people and ensuring social security.

The spacious house of Mr. Tiep's family was partly built with a loan from the Social Policy Bank.

Home construction loans can cover up to 70% of the estimated cost.

In December 2023, Mr. Vien Van Tiep, residing in Thanh Binh village, Dam Rong 1 commune, borrowed 500 million VND over 25 years from the preferential loan program for social housing provided by the Social Policy Bank.

Mr. Tiep (born in 1985) and his wife, both former teachers, lived in a temporary house built on land allocated to them by their parents in 2011. Upon learning about the Social Policy Bank's policy on preferential loans for building and renovating social housing, the couple decided to apply for a loan.

At the end of 2023, with a loan of 500 million VND and some savings, his family began building a new 130 m² house, which was completed in June 2024.

Currently, the couple sets aside a portion of their monthly civil servant income to pay off the principal and interest, with the goal of paying it off completely within 25 years. Thanks to this, the family has a stable place to live while maintaining financial balance.

The social housing loan policy that Mr. Tiep's family is eligible for is based on government decrees detailing certain provisions of the Housing Law regarding the development and management of social housing and the pilot implementation of specific mechanisms and policies for social housing development, effective from October 10, 2025.

As of September 30th, the outstanding balance of the social housing loan program across all branches reached over 505 billion VND, an increase of nearly 2.2 billion VND compared to the beginning of the month and nearly 25 billion VND compared to the beginning of the year, achieving 91.5% of the 2025 plan. The total number of borrowers under this program to date is 1,369 customers.

A view of the social housing project for workers and laborers in Phu Hoi Industrial Zone.

Preferential interest rates when buying or leasing social housing.

Accordingly, the preferential lending interest rate is set at 5.4% per year, applicable to those purchasing or leasing social housing, housing for the armed forces, or constructing, renovating, or repairing housing through the Social Policy Bank.

Specifically, loan agreements signed before October 10, 2025, will also have their interest rates adjusted down to 5.4% per year for both the actual principal balance and any overdue principal (if applicable).

Loan amounts can reach up to 80% of the contract value for purchasing or leasing social housing or housing for the armed forces, making it easier than ever for citizens, workers, civil servants, and low-income earners to access capital.

The preferential credit program for social housing loans aims to support eligible individuals as stipulated by regulations.

In Lam Dong province , the Department of Construction has announced the acceptance of applications for social housing units under the Social Housing Project for workers and laborers in Phu Hoi Industrial Park, Pre village, Duc Trong commune. The project comprises 3 apartment blocks with a total of 303 units; including 241 units for sale and 62 units for rent.

During this sales launch, the developer is accepting applications for social housing apartments in block 3C of the project. To date, the Social Policy Bank of Lam Dong province has provided loans for 33 apartments offered for sale, totaling over 15.4 billion VND.

The government's social housing loan policy has helped many families realize their dream of owning a home.

Reducing interest rates on preferential loans for social housing, along with adjusting existing loans, demonstrates humanity, fairness, and encourages people to confidently borrow to buy social housing.

This new credit policy, combined with specific mechanisms regarding land and capital sources as stipulated, has created a comprehensive support ecosystem that both addresses supply constraints and enhances access to capital for homebuyers.

Source: https://baolamdong.vn/hien-thuc-hoa-uoc-mo-ve-nha-o-cua-nguoi-thu-nhap-thap-396036.html