Korea Housing Finance Corporation Freezes Bogumjari Loan Rates for July... Minimum Rate Starts at 2.65%

The Korea Housing Finance Corporation (President Kim Kyunghwan) announced on June 25 that it will keep the interest rates for the Bogumjari Loan, a long-term, fixed-rate, and fully amortized policy mortgage product, unchanged for July.

Accordingly, the standard interest rates for the Akkim-e Bogumjari Loan will remain at 3.65% for a 10-year maturity and 3.95% for a 50-year maturity. These rates are the same as those applied in June.

Low-income young people, newlywed households, socially disadvantaged groups (such as people with disabilities and single-parent families), and victims of jeonse fraud who meet the income requirements may receive preferential rates of up to 1.0 percentage point. Eligible borrowers can access loans at minimum rates of 2.65% for a 10-year maturity and 2.95% for a 50-year maturity.

An official from the corporation explained, "We decided to freeze the rates as a policy measure to ensure housing stability for ordinary citizens and real demanders, given the ongoing delay in the base rate cut."

The Bogumjari Loan is designed to enhance housing cost stability with relatively low interest rates and a long-term fixed-rate structure compared to commercial mortgage loans. It is available to households without home ownership whose annual income does not exceed 100 million won (or 120 million won for newlyweds or households with minor children).

Loan Interest Rates by Maturity for Bogumjari Loan.