Application and Registration for Phase 2 of Ansim Jeonhwan Loan Begin from November 7

Housing Price 400 Million KRW → 600 Million KRW
Income Requirement 70 Million KRW → 100 Million KRW
Loan Limit 250 Million KRW → 360 Million KRW

On the 15th, when the preferential safe conversion loan that converts variable-rate mortgage loans to long-term, fixed rates starting at an annual 3.7% was launched, counselors at the Safe Conversion Loan Call Center in Mapo-gu, Seoul, were answering inquiry calls. Photo by Moon Honam munonam@

[Asia Economy Reporter Sim Nayoung] Korea Housing Finance Corporation announced on the 2nd that it will relax the application requirements and increase the loan limit for the Safe Conversion Loan starting from the 7th, and begin the second phase of applications and acceptance.

The eligibility for the Safe Conversion Loan will be expanded to borrowers with variable or quasi-fixed rate mortgage loans handled by the first and second financial sectors, increasing the house price limit from 400 million KRW to 600 million KRW, combined spousal income from 70 million KRW to 100 million KRW, and loan limit from 250 million KRW to 360 million KRW (within the existing loan balance range).

Mortgage loans and policy mortgages (Bogeumjari Loan, Qualified Loan, Didimdol Loan) with a maturity of 5 years or more and with fully fixed interest rates until maturity are excluded.

The interest rates remain the same as before, applied at 3.8~4.0% per annum (3.7~3.9% per annum for low-income youth), and homeowners with one house priced at 400 million KRW or less who were previously ineligible can now apply.

From November 7th to 18th, applications will be accepted based on a 5-day rotation system according to the last digit of the birth year on the resident registration, and from November 21st until the end of the year, applications will be accepted regardless of birth year.

It should be noted that if the number of applications exceeds the supply target of 25 trillion KRW, the application will close early, and an interest rate increase for the Bogeumjari Loan is also scheduled around the end of the year. Refinancing through the Bogeumjari Loan will be possible next year as well, but a higher interest rate than the current rate is expected to apply.

Application and acceptance locations vary depending on the institution that handled the original mortgage loan. For loans received from the six major banks (Kookmin, IBK, Nonghyup, Shinhan, Woori, Hana), applications can be made at the respective bank branches (or via mobile app). For loans from other banks (excluding the six major banks) and the second financial sector (savings banks, Saemaeul Geumgo, insurance companies, credit unions, regional Nonghyup, etc.), applications can be submitted through the corporation’s website or the Smart Housing Finance app.

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