Special BoGeumjari Loan Applications Reach 35.4 Trillion Won ... Supply Target at 89.4%

Korea Housing Finance Corporation (HF) announced on the 7th that the number of valid applications for the Special BoGeumJaRi Loan as of August was recorded at 148,937 cases.

The amount of valid applications reached 35.4107 trillion KRW, which is 89.4% of this year's target supply amount of 39.6 trillion KRW, increasing by 4.3 trillion KRW compared to July.

HF explained that the increase in valid application amounts was due to moving demand in the fall season and the demand to apply for loans before the interest rate hike of the Special BoGeumJaRi Loan.

An HF official stated, "Since the interest rate of the Special BoGeumJaRi Loan rose on the 11th of last month, the demand for the general type has been gradually decreasing," and added, "We plan to raise the interest rates again this month following last month."

Status Table of Valid Applications by Fund Usage for Special Bogeumjari Loan.

The interest rates for the Special BoGeumJaRi Loan will increase by 0.25%p for the general type and 0.2%p for the preferential type starting from the 7th.

The Special BoGeumJaRi Loan is a product that integrates existing policy mortgage loans such as BoGeumJaRi Loan, Eligible Loan, and Safe Conversion Loan. HF operates it temporarily for one year, targeting non-homeowners and temporary owners of two houses. Regardless of income, if the house price is 900 million KRW or less, borrowers can get a fixed interest rate loan up to 500 million KRW.

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