Safe Conversion Loan Day 6: Total 15,500 Applications Received... Total Application Amount Reaches 1.4389 Trillion KRW

Korea Housing Finance Corporation logo.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] As of the 6th day of application receipt on the 22nd, a total of 15,500 applications for the preferential-type Anshim Conversion Loan have been submitted, amounting to approximately 1.4389 trillion KRW.

Applications through the Korea Housing Finance Corporation website and the Smart Housing Finance app totaled 7,985, achieving an application amount of about 768.6 billion KRW. Applications received at the branches of Kookmin, KEB Hana, NongHyup, Shinhan, Woori, and Hana banks totaled 7,512, with an application amount of approximately 670.3 billion KRW.

The cumulative application amount is about 1.4389 trillion KRW, which is approximately 5.8% of the Anshim Conversion Loan supply scale of 25 trillion KRW.

The preferential-type Anshim Conversion Loan is a product that refinances variable or quasi-fixed rate mortgage loans secured by houses priced at 400 million KRW or less from the first and second financial sectors into long-term, fixed-rate policy mortgages.

The loan target is a single homeowner with an annual income of 70 million KRW or less, or a married homeowner with a combined annual income of 70 million KRW or less, owning one house priced at 400 million KRW or less.

Eligible applicants can convert up to 250 million KRW of their existing mortgage loans into fixed-rate products without prepayment penalties.

The preferential-type Anshim Conversion Loan interest rates range from 3.80% to 4.00% per annum depending on the 10 to 30-year maturity, and low-income youth aged 39 or younger with an income of 60 million KRW or less can receive rates from 3.70% to 3.90% per annum.

The preferential-type Anshim Conversion Loan is being smoothly processed by applying a phased application reception based on housing prices and a day-of-the-week system according to the last digit of the birth year.

The application period is from September 15 to 28 for homeowners with houses priced at 300 million KRW or less (first round), and from October 6 to 13 for applications up to 400 million KRW (second round).

Applications can be submitted online via the Korea Housing Finance Corporation website or the Smart Housing Finance app, and offline applications are also possible at the branches of Kookmin, KEB Hana, NongHyup, Shinhan, Woori, and Hana banks.

An official from HF Corporation stated, “Among variable-rate loan users, customers whose interest rate adjustment cycle has not yet come may not feel the increased loan interest rate, but we recommend actively utilizing the opportunity to use the Anshim Conversion Loan by checking the interest rate to be applied in the future.”

Table of Application Dates for Preferred Safe Conversion Loans by Housing Price and Birth Year.

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