HF Freezes Bogeumjari Loan Rate This December
- Date 2018-11-23
- Views 9,812
HF Freezes Bogeumjari Loan Rate This December
- Bogeumjari Loan rates as low as 3.00% depending on product type and maturity
Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) said on November 23, 2018, that it will freeze the annual interest rates on Bogeumjari Loan products, its long-term, fixed-rate mortgage loans, for December.
With the rate freeze, the interest rates of u-Bogeumjari Loan, a mortgage loan offered through the HF homepage (www.hf.go.kr), and t-Bogeumjari Loan, an offline mortgage loan available at commercial banks, will remain at 3.10% (10-year term) to 3.35% (30-year term). At the same time, the rates of Akkim e-Bogeumjari Loan, a cost-saving online-only Bogeumjari Loan which offers a 0.10%-point rate reduction thanks to its online loan agreement system and other online features, will stay in the range of 3.00% (10-year term) to 3.25% (30-year term).
For those who switch from non-banking lenders' floating-rate or bullet-payment mortgage loans to the Deonaeun Bogeumjari Loan scheme, the rates of u-Bogeumjari Loans and t-Bogeumjari Loans apply. For those who sign up for the scheme online using an online agreement system, the Akkim e-Bogeumjari Loan rates apply.
In addition, a further rate discount is available for socially underprivileged households (including single-parent and multicultural families or families with three or more children or those with disabilities) and newlywed couples.
※ An additional rate discount of up to 0.80%p available for those with the prime lending rate and a 0.02%p rate discount coupon offered for those using Ansim JuMoney, an HF smartphone application
An HF official said, “As a market rate increase is expected, borrowers can dramatically reduce their interest burden if they switch to the fixed-rate Deonaeun Bogeumjari Loan.”