Bogeumjari Loan Interest Rate Cut by 0.10%p in September... Lowest Annual Rate at 2%

Available at an annual rate of 2.00% depending on the product and maturity

[Asia Economy Reporter Park Sun-mi]The Korea Housing Finance Corporation announced on the 21st that it will lower the interest rates of the long-term fixed-rate, installment-repayment mortgage loan, Bogeumjari Loan, by 0.10 percentage points in September.

The 'u-Bogeumjari Loan,' which can be applied for through the Korea Housing Finance Corporation website, and the 't-Bogeumjari Loan,' which can be applied for at bank counters, are available at annual interest rates ranging from 2.10% (10-year maturity) to 2.35% (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 interest rates 0.10 percentage points lower, ranging from 2.00% (10 years) to 2.25% (30 years).

Those in 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 corporation official explained, "We decided to lower the interest rates to minimize the interest burden on actual borrowers, reflecting the recent downward trend in market interest rates."

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