Jugeum Gong, January Bogeumjari Loan Interest Rate Frozen... Usable at 3.00% Annually Depending on Product Maturity

[Asia Economy Reporter Kwangho Lee] Korea Housing Finance Corporation announced on the 29th that it will freeze the January interest rates for the long-term fixed-rate, installment-repayment mortgage loan, Bogeumjari Loan.

Accordingly, for each loan maturity, the 'u-Bogeumjari Loan' and 't-Bogeumjari Loan' will have a fixed base interest rate ranging from 3.10% per annum (10 years) to 3.40% (40 years), while the 'Akkim e-Bogeumjari Loan' will have a base rate 0.1 percentage points lower, fixed from 3.00% (10 years) to 3.30% (40 years) until maturity.

There are no special restrictions for Bogeumjari Loan maturities between 10 and 30 years; however, for the ultra-long 40-year maturity Bogeumjari Loan, it is important to note that applications are only accepted from newlywed households where the applicant is 39 years old or younger, or within 7 years of the marriage registration date (including those planning to marry within 3 months).

A representative from Korea Housing Finance Corporation stated, "The final interest rate, which is the base rate plus or minus any additional preferential or added rates depending on the product and maturity, will be applied consistently throughout the loan term." They added, "For more detailed information on other requirements, please check the corporation's website or contact the call center."

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