Special BoGeumjari Loan Valid Application Amount Approximately 25 Trillion Won ... One Third 'Rejected'

As of the end of last month, the valid application amount for the Special BoGeumJaRi Loan was recorded at 24.8677 trillion KRW. The amount canceled or disapproved due to reasons such as failure to meet eligibility requirements was 11.8422 trillion KRW, accounting for one-third of the total volume.

The Korea Housing Finance Corporation (HF) announced on the 5th that, as of May 31, out of the 36.7099 trillion KRW applied for the Special BoGeumJaRi Loan, the valid application amount was 24.8677 trillion KRW, and the canceled or disapproved amount was 11.8422 trillion KRW.

Accordingly, 62.8% of this year's supply target amount of 39.6 trillion KRW has been consumed.

Korea Housing Finance Corporation logo.

By fund usage, the valid application amount for new home purchases was 13.3361 trillion KRW, accounting for 52% of the total, making it the largest portion. The amount for repaying existing loans was 9.5268 trillion KRW, or 38.3%, and the amount for returning rental deposits was 2.0049 trillion KRW, or 8.1%.

The Special BoGeumJaRi Loan is a product that temporarily operates for one year by integrating existing policy mortgage loans such as BoGeumJaRi Loan, Eligible Loan, and Safe Conversion Loan. It provides up to 500 million KRW at a fixed interest rate for house prices up to 900 million KRW regardless of income, targeting non-homeowners and temporary two-home owners.

For the general type without income restrictions, an interest rate of 4.25% to 4.55% per annum is applied, and if all benefits including the A-kim e condition, low-income youth, socially disadvantaged groups, and newlywed households are received, a maximum interest rate reduction benefit of 0.9 percentage points (p) can be obtained.