HF Corporation Extends Support for Early Repayment Fees on Bogumjari Loan Until June Next Year

Korea Housing Finance Corporation.

[Asia Economy Yeongnam Reporting Headquarters, Trainee Reporter Hwang Du-yeol] Korea Housing Finance Corporation (HF) is extending the deadline for the Bogeumjari Loan early repayment fee support event until the end of June next year.

Among customers who make early repayments on their Bogeumjari Loans and meet the requirements, HF plans to refund 70% of the fees paid at the time of repayment.

The support target includes customers who repay early within 3 years from the loan execution date and after the Bogeumjari Loan has been transferred from the lending institution to the corporation.

The support condition applies when early repayment is made using surplus funds. However, cases where early repayment is made by taking out policy mortgages or housing mortgage loans from financial institutions, or where ownership changes due to the sale of the collateralized house, are excluded.

The support method is that after the customer pays the early repayment fee, the corporation selects eligible customers and refunds 70% of the fee paid to the customer.

HF had planned to run the ‘Bogeumjari Loan Early Repayment Fee Support Event’ from October 25 until the end of this year, but with this measure, the event is extended until June 30 next year.

The event was conducted to utilize the early repayment amounts from Bogeumjari Loan users to support low-income and genuine demand groups.

HF expects that about 12,000 customers who make early repayments by the end of this year will be eligible for refunds, with the refund amount estimated at about 1.2 billion KRW.

An HF official said, “Customers who make early repayments by the end of November will receive their fee refunds by the end of December,” adding, “Customers who make early repayments in December can receive refunds by the end of January next year.”

President Choi Jun-woo said, “The extension of the event deadline is a measure to reduce the financial burden on early repayment customers and to encourage early repayment by customers who have the capacity to do so, thereby concentrating resources on low-income and genuine demand groups,” and added, “The corporation will continue to expand inclusive finance and strive for the housing stability of the people.”

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