Recently, some social housing buyers reported being unable to submit preferential loan applications at Vietnam Bank for Social Policies (VBSP) branches. This situation arises because program funds are exhausted or have not yet been replenished. This leaves buyers who have made deposits and signed housing contracts at risk of waiting for funds while payment deadlines to developers approach.

Speaking to VnExpress, Vuong Van Minh, Deputy General Director of VBSP, stated that the demand for social housing loans through the bank this year has "surged unexpectedly." However, the capital allocated by the central government to the bank has been fully distributed.

This year, VBSP was allocated 6,305 billion VND for social housing loans nationwide. As of 25/9, outstanding loans from this source reached 5,104 billion VND, equivalent to 81% of the plan. The remaining 1,201 billion VND is earmarked for disbursement according to the progress of signed contracts.

In addition to central government funds, VBSP branches also collaborate with local authorities to mobilize additional entrusted budgets for the program. Outstanding loans from this source amounted to approximately 1,849 billion VND by late September.

According to Minh, VBSP has fulfilled 100% of its assigned social housing loan plan for this year.

A social housing project in Hai Phong. *Photo: Le Tan*

The exhaustion of allocated funds means some eligible social housing buyers cannot submit new loan applications. Explaining this, Minh stated that branches only accept applications when assigned a capital quota. When demand exceeds the allocated amount, the bank cannot pre-accept applications for appraisal and then wait for funds to disburse.

If demand surpasses available funds, VBSP prioritizes certain groups: people who contributed to the revolution, relatives of martyrs, disabled individuals, those resettled through social housing purchase or lease-purchase, and women. After considering these groups, remaining cases are publicly drawn by lottery to determine who receives loans.

According to Deputy General Director Vuong Van Minh, the bank has proposed a plan for additional capital. Branches are also working with local authorities to find more entrusted budget sources.

"If additional capital is allocated between now and the end of the year, VBSP will continue to accept applications within the assigned scope," Minh said. He added that this supplementary capital would be distributed according to local needs, prioritizing signed contracts that lack funds for subsequent disbursements.

During this waiting period, the bank advises those in need to explore preferential loans from other credit institutions participating in the 120,000 billion VND program, which disburses until 2030. A VBSP representative stated that not accepting applications once quotas are exhausted also aims to prevent people from waiting and missing out on loan opportunities elsewhere.

As of 25/9, the total capital for social housing loans at VBSP reached 20,637 billion VND, an increase from 14,104 billion VND at the end of 2025. Total outstanding loans amounted to 19,436 billion VND, with 14,165 active borrowers. The average loan amount is approximately 567 million VND per person.

Under Resolution 303 dated 30/9, the government aims to complete or exceed the target of at least one million social housing units and rental homes for low-income individuals and industrial park workers by 2030. Accordingly, localities are assigned to develop 899,857 social housing and rental units during the 2026-2030 period.

Phuong Dung