Housing Finance Corporation Lowers February Bogeumjari Loan Interest Rate by 0.3%p
With Preferential Rates, Annual Interest as Low as 2.65% to 2.95% Depending on Loan Term
Korea Housing Finance Corporation announced on the 23rd that it will lower the interest rates of the long-term, fixed-rate, installment-repayment mortgage loan product 'Bogeumjari Loan' by 0.3 percentage points starting February 2025.
Based on the 'Akkim e-Bogeumjari Loan,' annual interest rates of 3.65% (10 years) to 3.95% (50 years) will apply. Additionally, low-income youth, socially disadvantaged groups (such as persons with disabilities and single-parent families), and victims of jeonse fraud may receive an extra preferential interest rate discount of up to 1.0 percentage point, resulting in the lowest rates of 2.65% (10 years) to 2.95% (50 years).
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A representative from the Housing Finance Corporation explained, "Reflecting the recent trend of the Bank of Korea lowering its base interest rate and the stabilization of funding costs for mortgage-backed securities (MBS), we have reduced the Bogeumjari Loan interest rates to minimize the interest burden on low-income and actual homebuyers."
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