Housing Finance Corporation Adjusts February Bogeumjari Loan Interest Rates

Increase of 0.1 Percentage Points Starting from Applications on February 1

Korea Housing Finance Corporation.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Duyul] Korea Housing Finance Corporation (HF) announced on the 22nd that it will raise the interest rate of the long-term fixed-rate, installment repayment mortgage loan ‘Bogeumjari Loan’ by 0.1 percentage points in February compared to the previous month.

Based on applications completed by February 1, the interest rates for ‘u-Bogeumjari Loan’ and ‘t-Bogeumjari Loan’ range from 3.20% per annum (10 years) to 3.50% (40 years), and the ‘Akkim e-Bogeumjari Loan’ has a base interest rate fixed until maturity that is 0.1 percentage points lower, ranging from 3.10% (10 years) to 3.40% (40 years).

Standard interest rate table by product and maturity for the Bogeumjari Loan as of February 1, 2022.

An HF Corporation official explained, “Due to the rise in government bond yields and other factors, it was inevitable to adjust the Bogeumjari Loan interest rates,” adding, “If the Bogeumjari Loan application is completed in January, the pre-adjustment interest rates will apply.”

Among the Bogeumjari Loan maturities, there are no special restrictions for terms from 10 to 30 years; however, for the ultra-long 40-year maturity Bogeumjari Loan, only newlywed households can apply, which includes applicants aged 39 or younger, those planning to marry within three months, or newlywed households within seven years from the marriage registration date.

An HF Corporation official stated, “The final interest rate, which is the base rate plus or minus additional preferential or surcharge rates depending on the product and maturity, is applied uniformly throughout the loan term,” and added, “For more details, please check the corporation’s website or contact the call center.”

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