Achieved 62,548 Cases of Anshim Conversion Loans ... Application Volume Approximately 7.7139 Trillion KRW

Promotional image for the Korea Housing Finance Corporation's Safe Conversion Loan.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] As of the 25th, the number of applications for the 3rd preferential Anshim Conversion Loan reached a total of 62,548 cases, with approximately 7.7139 trillion KRW applied for.

Applications through the Korea Housing Finance Corporation website and the Smart Housing Finance app totaled 31,903 cases, achieving an application amount of about 4.1459 trillion KRW. Applications received at the branches of Kookmin, KEB Hana, NongHyup, Shinhan, Woori, and Hana Banks totaled 30,645 cases, with an application amount of approximately 3.568 trillion KRW.

The cumulative application amount is about 7.7139 trillion KRW, which is approximately 30.85% of the Anshim Conversion Loan supply scale of 25 trillion KRW.

The preferential Anshim Conversion Loan is a product that refinances variable or quasi-fixed rate mortgage loans secured by houses priced at 600 million KRW or less from the 1st and 2nd tier financial institutions into HF Corporation’s long-term, fixed-rate policy mortgage with an interest rate in the 3% range.

In the first phase of the Anshim Conversion Loan application, which proceeded until the end of October, the housing price ceiling was 400 million KRW, but in the second phase of the Anshim Conversion Loan, which began accepting applications from the 7th, the housing price ceiling was raised to 600 million KRW.

Additionally, the loan eligibility criteria were adjusted from single homeowners with an individual or combined spousal annual income of 70 million KRW or less to single homeowners with an annual income of 100 million KRW or less, and the loan limit was increased from 250 million KRW to 360 million KRW.

The preferential Anshim Conversion Loan interest rate ranges from 3.80% to 4.00% per annum depending on the 10 to 30-year maturity, and low-income youth under 39 years old with an income of 60 million KRW or less can receive an interest rate of 3.70% to 3.90% per annum.

Applications can be submitted online via the Korea Housing Finance Corporation website or the Smart Housing Finance app, and offline applications are also accepted at the branches of Kookmin, KEB Hana, NongHyup, Shinhan, Woori, and Hana Banks.