"u-Bogeumjari Loans" most popular among those in their 30s in 2013

The users of u-Bogeumjari Loans are 39.7 years old on average, borrowing for 15.8 years; applications for the Didimdol Loans for Home Ownership with a discounted interest rate can be made on KHFC's official website as well

The average subscriber to the "u-Bogeumjari Loans" as a long-term, fixed-rate mortgage loan scheme is 39.7 years old and borrows 180 million won.

On the 11th, the Korea Housing Finance Corporation (KHFC) announced the results of its 2013 survey on 107,202 subscribers to u-Bogeumjari Loans.

The survey shows that an average user of u-Bogeumjari Loans was 39.7 years old, borrowing 180 million won over the period of 15.8 years and earning 37 million won annually. The percentage of small- and medium-sized housing at or below the national housing size (85m² in terms of area for exclusive use) stood at 90.1% (compared to 89.2% in the previous year). In addition, houses located outside of Seoul and Gyeonggi Province accounted for 50.7% of the total (compared to 50.3% in the previous year).

The volume of Bogeumjari Loans offered in 2013 reached 11.9047 trillion won, a record high since the establishment of KHFC in 2004, thanks largely to a 44.1% increase in the volume of "Preferential Bogeumjari Loans"―from 2.4855 trillion won in 2012 to 3.5813 trillion won―with the government subsidizing 0.5-1%p of the interest rates for low-income non-homeowners earning less than 50 million won annually. "This demonstrates how Bogeumjari Loans have firmly established themselves as a means of financing home purchases for low-income citizens wishing to own homes."

The volume of Bogeumjari Loans offered this January amounted to 168.9 billion won, down by 56.3% from 386.7 billion won the previous month.

"This was the result of a low season, but with the recent increase in demand in real estate trading, the supply of Bogeumjari Loans will likely remain at the previous year's level," explained the KHFC official. "In the face of the United States' reduction in quantitative easing and other factors, interest rates are projected to keep rising from this year on. Against this backdrop, aspiring homeowners should turn to fixed-rate loans so they can avoid the long-term risk of interest loss due to fluctuating interest rates."

In addition, applications for the "Didimdol Loans for Home Ownership"―launched last January by consolidating the Preferential Bogeumjari Loans and the National Housing Fund Loans―can be made on KHFC’s official website (http://www.hf.go.kr). The Didimdol Loans are designed for households owning no home and earning up to 60 million won a year (based on the combined income of both spouses; 70 million won for the First-In-My-Lifetime Loans) to buy homes. Applications for this product can be made on KHFC's official website, using a total of 16 commercial banks, regional banks, and insurers. Applications can be made online anytime, anywhere. For more information, please contact the KHFC Call Center (1688-8114).