Special BoGeumjari Loan Interest Rate Frozen in July

[Image source=Yonhap News]

The Korea Housing Finance Corporation announced on the 30th that it will freeze the interest rates for the Special Bogeumjari Loan in July. The Special Bogeumjari Loan is a long-term, fixed-rate, installment repayment mortgage loan.

For applicants in July, the general type will have interest rates ranging from 4.15% (10 years) to 4.45% (50 years) per annum, while the preferential type will have rates from 4.05% (10 years) to 4.35% (50 years) per annum. The preferential rates can go as low as 3.25% (10 years) to 3.55% (50 years) per annum. These rates apply to socially disadvantaged groups, low-income youth, newlywed households, and unsold housing.

The Special Bogeumjari Loan has had its interest rates frozen for five consecutive months since March, following its launch at the end of January.

The Korea Housing Finance Corporation has expanded the banks where face-to-face applications are possible, adding Shinhan, Hana, and Woori Banks to the existing SC First Bank, IBK Industrial Bank, and NH Nonghyup Bank.

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