Bogeumjari Loans Provided KRW 1,984.7 Billion in Credit in Q1 This Year

-Bogeumjari Loans provided KRW 968 billion in credit in March, up 29.7% from the previous month

The amount of new Bogeumjari Loans (a long-term, fixed-rate mortgage loan for non-home owning households) provided in Q1 of 2012 saw a slight increase from a year earlier.

The Korea Housing Finance Corporation (HF, CEO Seo Jong-dae) announced on April 9 that the amount of newly provided Bogeumjari Loan credit reached KRW 1,984.7 billion in Q1, a 8.5% increase from KRW 1,829.8 billion a year ago.

The figure in March this year recorded KRW 968 billion won, up 29.7% from KRW 746.5 billion in February. The rise is attributed to HF’s decision to lower the Bogeumjari Loan rate by 0.2% points in February, which has given the loan greater interest-rate competitiveness.

"As people are becoming more interested in the Bogeumjari Loan which allows them to finance the purchase of their homes at interest rates as low as 3.8%, the number of applicants is steadily increasing. We will continue to support non-homeowning households by providing fixed-rate loans which they can repay steadily without worrying about interest rate fluctuations," said an HF official.