Safe Conversion Loan Reaches Approximately 30,000 Cases on Day 15 ... Application Volume About 2.9098 Trillion Won

Korea Housing Finance Corporation logo.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] As of the 15th day of application acceptance, on the 11th, a total of 30,019 applications for the preferential-type Anshim Conversion Loan have been received, amounting to approximately 2.9098 trillion KRW.

Applications through the Korea Housing Finance Corporation website and the Smart Housing Finance app totaled 15,631, reaching an application amount of about 1.5719 trillion KRW. Applications received at the branches of Kookmin, KEB Hana, NongHyup, Shinhan, Woori, and Hana banks totaled 14,388, with an application amount of approximately 1.3379 trillion KRW.

The cumulative application amount is about 2.9098 trillion KRW, which is approximately 11.63% 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 valued 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 couple with combined 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 loan term of 10 to 30 years, and low-income youth aged 39 or younger with income below 60 million KRW 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 acceptance based on housing prices and a day-of-the-week system according to 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 applications are also accepted at the branches of Kookmin, KEB Hana, NongHyup, Shinhan, Woori, and Hana banks. The application period for houses priced at 400 million KRW or less is from October 6 to 13.

An HF Corporation official stated, “Since variable-rate mortgage loans generally reflect COFIX rate changes every six months, it is necessary to consider the loan interest rate that will be applied on the next interest rate adjustment date rather than the current loan interest rate when considering the use of the Anshim Conversion Loan.”

Application Dates by Last Digit of Birth Year in Resident Registration Number.

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