Housing Finance Corporation Freezes November Bogeumjari Loan Interest Rate... Available at 2% Annually

[Asia Economy Reporter Park Sun-mi] Korea Housing Finance Corporation (HF) announced on the 23rd that it will keep the interest rates for the long-term fixed-rate, installment-repayment mortgage loan product, ‘Bogeumjari Loan,’ unchanged for November.

Accordingly, the ‘u-Bogeumjari Loan,’ which can be applied for through the HF 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 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 interest rates 0.10 percentage points lower, ranging from 2.00% (10 years) to 2.25% (30 years).

When refinancing variable-rate or lump-sum repayment mortgage 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, and if an electronic contract is made, the Akkim e-Bogeumjari Loan 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.

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