- It is a unique variation of a long-term mortgage loan common in advanced nations designed by the Korea Housing Finance Corporation to allow customers to repay the principal and interest of their loan over a period of ten to forty years.
- Those aged 20 or over as of the loan application date
- combined annual income of loan applicant and his/her spouse must be krw 70 million or lower
- Fixed rate applied from the date of loan extension to maturity (Published Interest Rates)
- Added rate applied depending on the location and price of the collateralized houses (0.1% for real estate speculation zones)
- Prime rate offered to household with three or more children, multi-cultural family, family with a disabled member and single parent family(0.4%p discount each). (Up to two items can be opted, with a cap of 0.8%p) Prime rate applied house priced under KRW 600million , 85㎡ size(houses smaller than 100㎡ outside the capital region) and KRW 60million(KRW 70million for newlyweds, household with three or more children) combined income.
- Houses registered on the official registry (certified copy of the register) with prices of not more than KRW 600 million
- Up to 70% of the collateralized house value
- Minimum KRW1 million ~ maximum KRW 360 million
- 10 years, 15 years, 20 years, 30 years or 40 years
Monthly equal installment repayment of principal (and interest)
(incremental installment repayment available for the u-Bogeumjari Loan)
- Prepayment penalty: applied within 3-year period from the loan origination and up to 1.2% in sliding method(prepayment penalty is decreased depending on the number of remaining days, prorated daily rate, n/365)
|Type of income||Proof|
|Earned income||Certificate of income, withholding tax receipt on earned income, certificate of income tax withholding|
|Business income||ertificate of income, withholding tax receipt on business income, final return of tax base, voluntary payment statement|
|Pension income||Letter of confirmation of entitlement to pension benefits, etc.|
recognized by HF
|National pension payment certificate, national health/long-term care insurance payment certificate, certified copy of resident registration (minimum cost of living)|
Customers may obtain various products (Regular Bogeumjari Loan/Prime Rate Bogeumjari Loan/Installment Payment Bogeumjari Loan) via Internet or by visiting financial institutions.