Get Apartment Mortgage Loans Easily on Mobile

Gwangju Bank Launches 'KJB Mobile Apartment Loan'

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Gwangju Bank announced on the 6th that it has launched the non-face-to-face ‘KJB Mobile Apartment Loan’ that can be applied for through Smart Banking (APP) and Mobile Web Banking.

The ‘KJB Mobile Apartment Loan’ allows customers to easily submit documents via mobile without the need to visit a branch or fax required documents, enabling loans for various purposes such as home purchase funds, living stabilization funds, jeonse deposit refund funds, and repayment of loans from other banks.

Currently, loan applications can be made for apartments in the Gwangju and Jeonnam regions, but there are plans to gradually expand nationwide.

Although the process is conducted non-face-to-face using Smart Banking (APP), the loan application can be carried out through a chatbot that adopts a conversational input process, allowing customers to interact as if speaking directly with a staff member.

When submitting documents proving spouse’s income, the loan limit reflecting this can be checked, and through mobile non-face-to-face processing, tasks such as setting up a mortgage with a notary public affiliated with Gwangju Bank and ownership transfer registration can be completed.

By minimizing the required document submission items during this process, customer convenience is expected to be greatly improved.

The application target is individual customers who can provide an apartment under their own name (or jointly with their spouse) as collateral and can submit documents electronically; minors, owners of two or more houses, and customers restricted from subscribing to guarantee insurance are not eligible to apply.

The loan amount ranges from a minimum of 20 million KRW to a maximum of 1 billion KRW, and may be restricted depending on housing mortgage loan regulations (LTV, DTI, DSR), fund usage, number of houses owned by the household head, location of collateral, and annual income.

The loan repayment method is equal principal installment repayment monthly, available for 10, 15, 30, 40, or 50 years (including a possible 1-year grace period).

However, the 50-year term is only available for applicants aged 50 or younger.

Digital Finance Center Director Byun Mi-kyung said, “Gwangju Bank will do its best to serve as a financial partner in fulfilling the dream of ‘owning a home,’ one of life’s major events.”

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