TAIPEI (TVBS News) — The Ministry of Agriculture (農業部, MOA) announced on Monday (July 1) that it will strengthen pre-loan review and post-loan management, mirroring the optimization measures of the Loan of Government Housing Subsidies for the Youth, including limiting borrowers to one loan application and requiring new borrowers to sign a self-residency commitment.
Since October 2023, the MOA has promoted the Agricultural Bank of Taiwan's home loans for youths, a government-backed initiative offering interest subsidies, higher loan limits, longer loan terms, and grace periods. This initiative aims to alleviate the loan burden on home buyers.
The new Loan of Government Housing Subsidies for the Youth has been criticized for leading to subletting and dummy accounts, prompting the Executive Yuan to amend the principles.
Starting June 27, the MOA's Agricultural Finance Agency (農業金融署, AFA) stated in a press release that its loan would follow the optimization measures of the new Loan of Government Housing Subsidies for the Youth.
Borrowers must also sign a self-occupied commitment. Violations will result in the termination of interest subsidies, the return of subsidy interest disbursed since the violation date, and a reevaluation of loan conditions.