Korea Housing Finance Corporation Freezes August Bogumjari Loan Rates

Interest Rates by Product and Maturity for the Bogumjari Loan (As of August 1, 2021). Photo by Korea Housing Finance Corporation

[Asia Economy Reporter Song Seung-seop] Korea Housing Finance Corporation announced on the 23rd that it will freeze the interest rates of the Bogeumjari Loan in August.

The Bogeumjari Loan is a long-term fixed interest rate, installment repayment mortgage loan product handled by the Korea Housing Finance Corporation. The 'u-Bogeumjari Loan,' which can be applied for through the corporation's website, and the 't-Bogeumjari Loan,' which can be applied for at bank counters, offer interest rates ranging from 2.70% (10 years) to 3.00% (40 years) depending on the loan maturity.

For the 'Akkim e-Bogeumjari Loan,' which reduces costs through online applications such as electronic contracts via joint certificates, a lower interest rate of 2.60% (10 years) to 2.90% (40 years), 0.10 percentage points less, is applied.

The 'Better Bogeumjari Loan,' a product that converts variable interest rate or lump-sum repayment mortgage loans from the secondary financial sector into fixed interest rate and installment repayment methods, has the same interest rates as the u-Bogeumjari Loan and t-Bogeumjari Loan. If an electronic contract is made, the same Akkim e-Bogeumjari Loan interest rates are applied.

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