Housing Finance Corporation Freezes October Bogeumjari Loan Interest Rate at a Minimum Annual 2%

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

[Asia Economy Reporter Park Sun-mi] Korea Housing Finance Corporation announced on the 25th that it will freeze the interest rates for October on the long-term fixed-rate, installment repayment mortgage loan called ‘Bogeumjari Loan’.

The ‘u-Bogeumjari Loan,’ applied for through the Housing Finance Corporation’s website, and the ‘t-Bogeumjari Loan,’ applied for at bank counters, offer interest rates ranging from 2.10% per annum (10-year term) to 2.35% (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 2.00% (10 years) to 2.25% (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.

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.

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