Housing Finance Corporation Freezes July Bogeumjari Loan Interest Rates

Minimum Annual Rate of 2.20% Depending on Product and Maturity

[Asia Economy Reporter Ki Ha-young] Korea Housing Finance Corporation (HF) announced on the 26th that it will freeze the interest rates for July on the long-term fixed-rate, installment-repayment mortgage loan called 'Bogeumjari Loan.'

The 'u-Bogeumjari Loan,' applied for through the HF Corporation website, and the 't-Bogeumjari Loan,' applied for at bank counters, offer interest rates ranging from 2.30% per annum (10-year term) to 2.55% (30-year term), depending on the loan maturity. Additionally, the 'Akkim e-Bogeumjari Loan,' which is applied for online through electronic contracts and reduces costs, offers rates 0.10 percentage points lower, ranging from 2.20% (10 years) to 2.45% (30 years) per annum.

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

Socially disadvantaged groups (single-parent families, persons with disabilities, multicultural families, families with three or more children) or newlyweds can receive additional interest rate discounts. However, if the final loan interest rate after applying the preferential rate is below 1.2%, a minimum rate of 1.2% will be applied.

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