Eligibility low income housing

As for employees who are working in enterprises, each eligible person will be received financial support of VND500,000 (US$21.5) a month with a maximum support period of three months. In 50 provinces and cities nationwide, the Vietnam Social Security Agency has confirmed 9,657 units with 397,588 workers, including 393,759 contracted workers being subject to mandatory social insurance to be received the financial support.

Regarding people having just returned to the labor market who received monthly support of VND1 million ($43) a person in three consecutive months, the Vietnam Social Security Agency has confirmed 1,272 units with 9,603 employees, comprising 8,841 workers being subject to mandatory social insurance to be received the financial support.

By Van Phuc- Translated by Huyen Huong

The price of homes in the United States rose 1.6 percent in April compared to the previous month, new data published on Tuesday showed.

The average house price for April was also 18.8 percent higher this year than it was in the same month in 2021, according to the Federal Housing Finance Agency, whose index likely reflects a slowdown of the housing market amid a limited supply of new homes.

Rising mortgage interest rates have sparked fears among analysts of a looming crash in the housing market.

“House price appreciation continues to remain elevated in April,” said Will Doerner, supervisory economist in FHFA’s Division of Research and Statistics. “The inventory of homes on the market remains low, which has continued to keep upward pressure on sales prices. Increasing mortgage rates have yet to offset demand enough to deter the strong price gains happening across the country.”

The month-on-month house price change has been higher among the West South Central, West North Central and South Atlantic states, with respective price increases of 2.5, 2.3 and 1.9 percent, according to the assessment by FHFA—all above the U.S.’s average increase.

Least affected by the house price increase were the East South Central states, with a 0.3 percent increase from March to April, FHFA said.

Although the market is beginning to cool as homes become out of reach for many buyers, house prices are not expected to decline any time soon.

“Prices are determined by two factors, obviously the market demand and supply, but also how much it costs to build,” Ran Elisaf, founder and managing partner at Northwind Group, a real estate private equity firm in Manhattan, New York, told Newsweek .

“Currently, we’re seeing still a lot of commodities—lumber, concrete, steel—at very high prices relatively to two or three years ago. Yes, some prices went down; timber and wood price went down a bit. But still we’re seeing an average cost to build a house that’s much higher than it was two or three years ago pre-pandemic.”

“Builders will only build now if they’re sure they’re going to be able to get their price. So I don’t see prices going down that fast because of that reason. Affordability is going to remain a big issue—mortgage is more expensive; furnishing the home is more expensive.”

“So a lot of issues in the supply chain are still causing delays, and housing will not be affordable in the near future unless we’re going to see a huge new supply coming in of new houses. I don’t see that happening any time soon because of prices,” Elisaf said.

These record-high house prices—over 34 percent higher now than two years ago—combined with rising inflation, higher mortgage interest rates and limited availability of new homes are squeezing first-time home buyers out of the market.

This, in turn, is slowing down the housing market, with the number of new home sales reaching its lowest level in two years in April.

“I think we’re going to see a cooldown,” Elisaf said. “It’s going to turn into a buyer’s market after it’s been a seller’s market for the last year, year and a half.”

“But again you need to look at the United States…you can’t look at it as a whole. There’s going to be certain markets that are very sought after in high demand and have limited supply. In those markets, you’ll see prices go up—South Florida, Austin, New York.”

“I think for the most part we’ll still see increases, or these prices stabilized or increased. But then you’ll have markets where you have negative population growth areas, in California for example, where people are leaving because of taxation and political reasons, and they’re moving to low tax states. So there you’ll probably see potential decrease in pricing.”

Update 6/28/22, 10:45 a.m. ET: This article has been updated with more information.

SAVING for a house can be tough – but you can get on the ladder quicker with these schemes that let you buy with just a 5% deposit.

House prices have rocketed, which means that budding buyers are having to raise more money for a deposit.

The average house price stands at £281,000 according to latest government figures, which is up £31,000 the year before.

That means a 10% deposit – the typical amount buyers are putting down for a home – is £28,100, up £3,100 from last year.

With a cost of living crisis , saving this amount of money is unachievable while bills are spiralling.

But a number of schemes can make getting on the ladder a little more affordable.

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We round up five schemes where you only need to save up half the deposit typically needed to secure a home.

Help to Buy

The Help to Buy scheme is a government scheme that will give budding buyers and equity loan and allow them to put down a deposit of just 5%.

You can get up to 20% of the value of your property – or 40% if you live in London – under the scheme.

The loan is interest-free for the first five years – but budding buyers only have a matter of months to take advantage of it.

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New applications must be made by October 31 at the latest and completions need to be finalised by March 31, 2023.

To apply, you’ll need to go through the Help to Buy agent in the area where you want to buy a home.

You can find one near you on the Homes England website .

Some disadvantages to using the scheme is that you can only buy a new build property to qualify for the loan.

That means those looking for a doer upper to increase the value of their home can’t access the scheme.

New build homes can also be more expensive.

Shared ownership

Shared ownership lets first-time buyers purchase a portion of the equity in a property if they can’t afford to take out a mortgage for the total value of the home.

You’ll co-own your home with a housing association, which will charge you rent on its portion of the property.

Buyers will find they’ll likely need to buy a new-build home.

Buyers must purchase between 10% and 75% of the property to use the initiative, and they can then “staircase” – buy more shares in instalments – until they own 100% of it.

You can put down a deposit of just 5% using a shared ownership scheme.

While it can make buying a home more affordable, there are a few disadvantages.

You don’t have as much freedom when it comes to selling up – if you own less than 100%, your housing association will get a set period of time to find a buyer.

That means you won’t be able to accept a higher offer from someone else.

Or, you might have to sell it back to the housing association instead of putting it on the market.

There are also fewer lenders offering shared ownership mortgages compared with standard ones.

This means there isn’t much competition to offer decent rates.

Help to Build

Last week saw the government unveil its Help to Build scheme to first time buyers.

You’ll be able to build you own home with just a 5% deposit.

The government can give you an equity loan based on the estimated costs to buy the plot of land and build your home.

The loan amount can be between 5% to 20%, and up to 40% in London.

It will make building your own home more affordable, as currently, you’ll need a deposit worth around 25% of land and building costs.

With a home costing £400,000 to build, you would need to raise £100,000 typically. At 5% this would be just £20,000.

But there are some downsides.

Building costs can often run away – which means you could go over budget and end up forking out much more than you want to.

It could also be challenging finding land to buy and build on – including the faff of getting planning and a mortgage.

Companies offering loans with 5% deposits

There are companies offering loans to first time buyers with just 5% deposits to help them boost the home budget

If you have saved up enough for a 5% deposit, you can apply for a home loan from Proportunity.

It works in a similar way to Help to Buy – but the key differences are that you can get a loan to cover up to 25% of the total value of a property, and it doesn’t have to be a new build.

You can repay your loan at any point – for example, you could choose to pay it back at all once when you sell up.

Ahauz is another company offering equity loans to buyers with a 5% deposit.

Again, you can get up to 25% of the property value up to £150,000.

But a word of warning – alternative finance firms can often charge significant interest rates offering loans like these.

We spoke to one first time buyer who is paying back more than double the interest he pays on his £30,000 Proportunity loan compared to his mortgage.

Plus, some lenders might not lend you a mortgage using an equity loan like this – so you might not get the best deal.

Deposit Unlock

This new scheme lets you buy a new build house worth up to £750,000 with a 5% deposit.

It will aim to plug the gap left when the Help to Buy scheme ends in just a few months time.

You have to buy a home from a house builder participating in the scheme – which could limit your options.

It is a mortgage-indemnity scheme, which means the builder insures the mortgage you take out.

That means mortgage providers are more likely to take on the risk of lending mortgages on low deposits.

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But not many lenders have signed up to the initiative – which lowers your chances of getting a deal.

You’ll have to ask the builder of the house you want to buy whether they are offering the 5% Deposit Unlock initiative.