Housing Finance Corporation to Launch 'Partial Repayment Jeonse Loan Guarantee' on October 30

Minimum Guaranteed Interest Rate of 0.05% Applied... Only One-Time Interest Repayment Possible When Principal Repayment Is Difficult

[Asia Economy Yeongnam Reporting Headquarters, Reporter Kim Yong-woo] Korea Housing Finance Corporation (HF) announced on the 29th that it will launch the "Special Partial Repayment Agreement Jeonse Loan Guarantee," which allows borrowers to receive income tax deductions while repaying their loans, starting from the 30th.

This product, available to those where both the borrower and their spouse are homeowners, requires that at least 5% of the principal be repaid in installments during the loan period, and it applies the lowest guarantee fee rate (0.05%).

Additionally, as the loan principal is repaid during the loan period, the interest burden decreases, and income tax deductions can be received not only on the interest but also on the principal.

HF Corporation has improved upon the existing installment repayment type Jeonse loan product, which incurs delinquency if the principal repayment is not made after agreeing to repay the principal. Through consultations with the launching banks, if repaying the principal is difficult, the product is designed to waive the early repayment fee once and allow repayment of interest only.

Detailed product requirements and other information can be obtained by consulting the corporation's call center or the handling banks (Kookmin, IBK, Nonghyup, Shinhan, Woori, Hana Bank).

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