Achieved 31,655 Applications on the 15th Day of Anshim Conversion Loan ... Application Volume Reaches 3.1202 Trillion Won

Korea Housing Finance Corporation logo.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] As of the 16th day of application acceptance, on the 12th, a total of 31,655 applications for the preferential-type Safe Conversion Loan have been received, amounting to approximately 3.1202 trillion KRW.

Applications through the Korea Housing Finance Corporation website and the Smart Housing Finance app totaled 16,349, with an application amount of about 1.6779 trillion KRW. Applications received at the branches of Kookmin, KEB Hana, NongHyup, Shinhan, Woori, and Hana banks totaled 15,306, with an application amount of about 1.4423 trillion KRW.

The cumulative application amount is approximately 3.1202 trillion KRW, which is about 12.48% of the Safe Conversion Loan supply scale of 25 trillion KRW.

The preferential-type Safe Conversion Loan is a product that refinances variable-rate or quasi-fixed-rate mortgage loans secured by houses valued at 400 million KRW or less, obtained 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 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 Safe Conversion Loan interest rates range from 3.80% to 4.00% annually, depending on the 10 to 30-year maturity period. 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% annually.

The preferential-type Safe 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 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 Safe Conversion Loan.”

October 14 and 17 are non-application days for the 5-day rotation system, so any customer with a house priced at 400 million KRW or less can apply.

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

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