October Special BoGeumjari Loan Preferential Interest Rate Frozen

Maintaining 4.25% (10 years) to 4.55% (50 years)

The Korea Housing Finance Corporation announced on the 26th that it will freeze the special BoGeumjari Loan interest rates for October. The preferential interest rates for housing prices up to 600 million KRW and combined annual income of couples up to 100 million KRW will be maintained at 4.25% (10 years) to 4.55% (50 years) per annum.

For low-income youth, newlywed households, and socially disadvantaged groups (such as persons with disabilities and single-parent families) who receive additional preferential interest rates (up to 0.8 percentage points), the lowest interest rates of 3.45% (10 years) to 3.75% (50 years) per annum will apply.

A representative from the Korea Housing Finance Corporation stated, “Although uncertainty in the funding market is increasing due to concerns over prolonged U.S. monetary tightening and rising market interest rates, we have decided to freeze the interest rates in October to support housing stability for low-income and actual demand households.”

Meanwhile, to concentrate limited resources on low-income and actual demand groups such as the homeless, applications for the general type (housing prices exceeding 600 million KRW or combined annual income of couples exceeding 100 million KRW) and temporary two-homeowners will be suspended starting from the 27th.