Jugeumgong Freezes May Bogeumjari Loan Interest Rate... 2.5% Annual Rate for 10-Year Term

[Asia Economy Reporter Kwangho Lee] Korea Housing Finance Corporation announced on the 23rd that it will freeze the interest rates for May on the long-term fixed-rate, installment-repayment mortgage loan product called 'Bogeumjari Loan.'

Accordingly, the 'u-Bogeumjari Loan,' which can be applied for through the Korea Housing Finance Corporation website, and the 't-Bogeumjari Loan,' which can be applied for at bank counters, are available at annual interest rates ranging from 2.60% (10-year term) to 2.85% (30-year term), depending on the loan maturity.

Additionally, the 'Akkim e-Bogeumjari Loan,' which offers reduced costs through online applications such as electronic contracts via joint certificates, applies interest rates 0.10 percentage points lower, ranging from 2.50% (10 years) to 2.75% (30 years) annually.

The 'Better Bogeumjari Loan,' a product that converts variable-rate or lump-sum repayment mortgage loans from secondary financial institutions into fixed-rate, installment-repayment loans, carries the same interest rates as the u-Bogeumjari Loan and t-Bogeumjari Loan, and if an electronic contract is made, the Akkim e-Bogeumjari Loan rates apply.