- HF introduces the HF Reverse Mortgage Package, its more personalized mortgage solution


□ Korea Housing Finance Corporation (HF, CEO Kim Jae-Chun) stated on the 21st that it is participating in the

   ‘Government 3.0 Experience Fair’ and will introduce the HF Reverse Mortgage Package, its mortgage solution

   tailored to different age groups.

* 「HF Reverse Mortgage Package」consists of three reverse mortgage options: ‘reverse mortgage for mortgage

  repayment,’ ‘Bogeumjari Loans convertible to JooTaekYeonKeum ("JTYK") Loans,’ and ‘JooTaekYeonKeum with

  favorable monthly payments.’ ▲ The first option allows senior citizens 60 years of age or older to borrow up

  to 70% of their home's value in a lump sum for the repayment of their existing mortgage loan and receive

   fixed monthly payments on the remaining value of their home. ▲ The second option allows those in their

   40s and 50s who switch from a short-term, flexible-rate loan to a Bogeumjari Loan (including new

   Bogeumjari Loan users) to convert their Bogeumjari Loan to a JTYK reverse mortgage loan when either they

   or their spouse turn 60 or older. ▲ The last option of ‘JooTaekYeonKeum with favorable monthly payments’

   is for older home owners whose home is valued at KRW 150 million or less. This option provides them with a

   favorable monthly payment rate up to 15% higher than the regular JTYK loans.

 
□ As the Government 3.0 Experience Fair is to be held from the 19th to 22nd at COEX, Seoul, HF is going to

   present its Reverse Mortgage Package at the ‘Government 3.0 Best Practice Competition’ during the fair.

 
□ An HF official said, “With the Reverse Mortgage Package, our unique reverse mortgage solution tailored to

   specific age groups, we will work to help them reduce their debt, prepare for retirement, and ensure housing

   stability. We will continue to develop and implement Government 3.0 tasks to improve our services for the

   general public, helping them lead a better life.”