Sh Suhyup Bank Extends Mortgage Loan Repayment Period Up to 40 Years
[Asia Economy Reporter Buaeri] Sh Suhyup Bank will extend the repayment period of mortgage loans up to a maximum of 40 years starting from the 19th.
According to Suhyup Bank on the 18th, the applicable products are 'Badasarang Loan' and 'Euddeum Mortgage Loan,' which are only available to non-homeowners purchasing an apartment.
When the repayment period of mortgage loan products is extended, consumers can reduce their monthly repayment amount, thereby easing household financial burdens. Additionally, as the monthly repayment amount decreases, the Debt Service Ratio (DSR) also lowers, resulting in an overall increase in the total loan limit.
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A Suhyup Bank official stated, "We decided to extend the maturity period to reduce the burden of monthly principal and interest repayments when subscribing to financial products for non-homeowners to prepare funds for purchasing a home."
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