Safe Conversion Loan Reaches 25,954 Cases on Day 12 ... Application Volume 2.3629 Trillion Won

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[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Dooyul] As of the 12th day of applications, on the 30th, a total of 25,954 applications for the preferential Anshim Conversion Loan have been received, amounting to approximately 2.3629 trillion KRW.

Applications through the Korea Housing Finance Corporation website and the Smart Housing Finance app totaled 14,232, with an application amount of about 1.3386 trillion KRW. Applications received at the branches of Kookmin, KEB Hana, NongHyup, Shinhan, Woori, and Hana banks totaled 11,722, with an application amount of about 1.0243 trillion KRW.

The cumulative application amount is approximately 2.3629 trillion KRW, which is about 9.45% of the Anshim Conversion Loan supply scale of 25 trillion KRW.

The preferential Anshim Conversion Loan is a product that refinances variable or quasi-fixed rate mortgage loans secured by homes valued at 400 million KRW or less from first and second-tier financial institutions 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 couple with combined income of 70 million KRW or less, owning one home 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 Anshim Conversion Loan interest rates range from 3.80% to 4.00% annually depending on the loan term of 10 to 30 years, and low-income youth aged 39 or younger with income of 60 million KRW or less can receive rates from 3.70% to 3.90% annually.

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

Applications can be submitted online via the Korea Housing Finance Corporation website or the Smart Housing Finance app, and offline at branches of Kookmin, KEB Hana, NongHyup, Shinhan, Woori, and Hana banks. The application period for homes priced at 400 million KRW or less is from October 6 to 13.

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