Jugeumgong Freezes June Bogeumjari Loan Interest Rate at a Minimum Annual 2.2%

[Asia Economy Reporter Haeyoung Kwon] Korea Housing Finance Corporation announced on the 22nd that it will freeze the interest rates for June on the long-term fixed-rate, installment-repayment mortgage loan product called 'Bogeumjari Loan.'

Accordingly, the 'u-Bogeumjari Loan' applied for through the Korea Housing Finance Corporation website and the 't-Bogeumjari Loan' applied for at bank counters can be used at an annual interest rate ranging from 2.3% (10-year maturity) to 2.55% (30-year maturity), depending on the loan term. Additionally, the 'Akkim e-Bogeumjari Loan,' which is applied for online through electronic contracts and reduces costs, offers a 0.1 percentage point lower interest rate of 2.2% (10 years) to 2.45% (30 years) annually.

If refinancing a variable-rate or lump-sum repayment mortgage loan obtained from the secondary financial sector into a better Bogeumjari Loan, the interest rates are the same as those for the u-Bogeumjari Loan or t-Bogeumjari Loan. When using electronic contracts, the Akkim e-Bogeumjari Loan interest rates apply.

Additional interest rate discounts are available for socially disadvantaged groups (single-parent families, persons with disabilities, multicultural families, families with three or more children) or newlyweds.

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