Industry Leader Hyundai Capital Subordinated Mortgage Product Entry
Expanding Mortgage Handling Companies to 8
Loan brokerage and management platform Finda has listed the mortgage loan products of Hyundai Capital, the number one company in the capital industry. With this, it now handles mortgage loan products from eight companies.
Finda announced on the 30th that it has listed Hyundai Capital's subordinate mortgage loan products. A subordinate mortgage loan is a product where a borrower who already has a secured loan receives an additional loan using the same collateral. Typically, the loan amount is the remaining amount after deducting the senior loan from the maximum limit set by the collateral.
This product targets users who need additional living or business funds while using a mortgage loan. Loans are available up to 300 million KRW, which is up to 70% of the collateral market value. The interest rate ranges from 7.65% to 13.07% per annum. The loan period is 5 to 35 years, and repayment methods can be chosen from ▲equal principal and interest payments ▲equal principal and interest payments after a 1- or 3-year grace period ▲lump-sum repayment at maturity.
With this, Finda’s mortgage loan product partners have increased to eight. Starting with Pepper Savings Bank in December 2021, last year it introduced mortgage loan products from Welcome Capital, SBI Savings Bank, Honest Fund, and Daily Funding for users to compare. This year, 8 Percent, People Fund, and Hyundai Capital were added.
Lee Hye-min, co-CEO of Finda, said, "We have focused on securing various types of mortgage loan products such as living funds, purchase funds, subordinate collateral, and business collateral," adding, "Going forward, Finda will continue to partner with financial institutions to secure competitive products in the market and provide users with the most advantageous customized conditions."
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