Jugeumgong, February Bogeumjari Loan Minimum 2.4%... 0.1%p Increase

[Asia Economy Reporter Haeyoung Kwon] Korea Housing Finance Corporation announced on the 23rd that it will raise the interest rates of the long-term fixed-rate, installment-repayment mortgage loan 'Bogeumjari Loan' by 0.1 percentage points in February.

The 'u-Bogeumjari Loan,' applied for through the KHFC website, and the 't-Bogeumjari Loan,' applied for at bank counters, can be used at annual interest rates ranging from 2.5% (10-year term) to 2.75% (30-year term) depending on the loan maturity. The 'Akkim e-Bogeumjari Loan,' which is applied for online via electronic contracts and reduces costs, offers interest rates 0.1 percentage points lower, ranging from 2.4% (10 years) to 2.65% (30 years) annually.

If borrowers refinance variable-rate or lump-sum repayment loans obtained from secondary financial institutions into a better Bogeumjari Loan, the interest rates are the same as those of the u-Bogeumjari Loan or t-Bogeumjari Loan. If an electronic contract is made, the Akkim e-Bogeumjari Loan interest rate applies.

Socially disadvantaged groups (single-parent families, persons with disabilities, multicultural families, families with three or more children) or newlyweds can receive additional interest rate benefits.

A KHFC official explained, "Considering the recent increase in market funding costs, we decided to raise the interest rates of the Bogeumjari Loan."

This content was produced with the assistance of AI translation services.