Credit program aims to support teachers to buy houses

The Department of Education and Training in Ho Chi Minh City has just announced a credit program, aiming to support teaching staffs who have no permanent household registration in the city to buy a house.

The Department will support 80 percent of  the sum to buy house for teachers. The program is sponsored by investors with many apartment blocks in districts.

When teaching staffs submitt an application for the program, they can ask for a loan of 80 percent of the total sum to buy a house of their choice.

The loan period is 15 years with its interest of 6 percent a year. Each apartment of the program fluctuates from VND400 million (US$17,800) to VND600 million (US$26,700).

By staff writer – Translated by Anh Quan

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