Jugeumgong, March Bogeumjari Loan Minimum 2.2%... 0.2%p Reduction

[Asia Economy Reporter Kwon Haeyoung] Korea Housing Finance Corporation announced on the 21st that it will lower the March interest rates of the long-term fixed-rate, installment repayment mortgage loan 'Bogeumjari Loan' by 0.2 percentage points.

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 2.3% (10-year term) to 2.55% (30-year term) depending on the loan maturity. The 'Akkim e-Bogeumjari Loan,' which is applied for online through electronic contracts and reduces costs, offers lower interest rates by 0.1 percentage points, ranging from 2.2% (10 years) to 2.45% (30 years) annually.

When refinancing 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, "We decided to lower the interest rates to minimize the interest burden on actual borrowers by reflecting the recent downward trend in market interest rates."

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