Safe Conversion Loan Applications Total 6.8749 Trillion Won by 17th... 27.5% of Supply Amount

Apply by the 21st with a 5-day rotation... After that, anyone can apply regardless of birth year

[Image source=Yonhap News]

[Asia Economy Reporter Seomideum] As of the 17th, the cumulative number of applications for the preferential Ansim Conversion Loan reached 56,653, the Korea Housing Finance Corporation announced on the 18th. The total amount is 6.8749 trillion KRW.

According to the Korea Housing Finance Corporation, the cumulative loan application amount is about 27.5% of the total Ansim Conversion Loan supply scale (25 trillion KRW).

The Ansim Conversion Loan is a policy financial product that reduces borrowers' burdens during periods of rising interest rates by refinancing variable or mixed-rate mortgage loans obtained from primary and secondary financial institutions into long-term, fixed-rate policy mortgages at around 3% interest provided by the Housing Finance Corporation.

Applications were accepted until the end of last month from homeowners with a single house priced at 400 million KRW or less, and in the second phase of applications that began on the 7th, the housing price ceiling was raised from 400 million KRW to 600 million KRW. Since the start of the second phase on the 7th, the application amount reached 2.8852 trillion KRW (17,627 cases).

The combined income standard for couples was also raised from 70 million KRW to 100 million KRW, and the loan limit was increased from 250 million KRW to 360 million KRW.

The interest rate remains the same as in the first phase, at 3.8?4.0% per annum (3.7?3.9% per annum for low-income youth), and homeowners with a single house priced at 400 million KRW or less who have not yet applied can still apply.

The second phase application is conducted over two weeks using a 5-day rotation system based on the last digit of the birth year, and from the 21st, applications will be accepted regardless of birth year.

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