July Bogumjari Loan Interest Rate Frozen... Available at 2.60% Per Annum

Selectable 40-Year Term Available Starting July 1

[Asia Economy Reporter Park Sun-mi] Korea Housing Finance Corporation (HF) announced on the 25th that it will freeze the interest rates for July on the long-term fixed-rate, installment-repayment mortgage loan product, ‘Bogeumjari Loan’.

Accordingly, the ‘u-Bogeumjari Loan’ applied for through the HF Corporation website and the ‘t-Bogeumjari Loan’ applied for at bank counters can be used at an annual interest rate of 2.70% (10 years) to 3.00% (40 years), depending on the loan maturity. The ‘Akkim e-Bogeumjari Loan,’ which reduces costs through online application such as electronic contracts via joint authentication, applies a rate 0.10 percentage points lower, at 2.60% (10 years) to 2.90% (40 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, has 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 rate can be applied.

An HF Corporation official explained, “With the launch of the ultra-long Bogeumjari Loan, those aged 39 or younger or newlywed households (including those planning to marry) can select a 40-year maturity starting from July 1.”