Special BoGeumjari Loan Surpasses 10 Trillion Won in Cumulative Amount Just 9 Days After Launch

[Asia Economy Reporter Yu Je-hoon] The cumulative application amount for the government's Special BoGeumjari Loan surpassed 10 trillion won in just 9 days.

Korea Housing Finance Corporation (HF) announced on the 8th that as of the 7th, the cumulative application amount for the Special BoGeumjari Loan reached 10.5008 trillion won. This marks 9 days (7 business days) since the application and reception for the Special BoGeumjari Loan began on January 30.

Due to high interest in the Special BoGeumjari Loan, applications totaling 7 trillion won were received within the first 3 days after launch, but as the backlog demand was resolved, the daily application volume has gradually stabilized. According to HF, the application amount was 7 trillion won during the first 3 days after launch, but the recent 3 days (from the 5th to the 7th) saw an application amount of 1.5 trillion won.

An HF official stated, "Since a relatively low fixed interest rate compared to market mortgage loans is applied, it can be used for various purposes such as repaying existing loans, purchasing new homes, and returning rental deposits, which seems to have made it popular among low-income and real demand borrowers in the early stages of launch," adding, "We will do our best to ensure that the review of future application volumes proceeds smoothly."

[Image source=Yonhap News]