This April Bogeumjari Loan Rates Stay at 3.30-3.65%

Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) announced on March 23, 2018, that it will freeze the annual interest rates on ‘Bogeumjari Loans,’ its long-term, fixed-rate mortgage loans, for April 2018.

With the rate freeze, the rates of ‘u-Bogeumjari Loan,’a mortgage loan offered through the HF webpage (www.hf.go.kr), and‘t-Bogeumjari Loan’ available at commercial banks will be in the range of 3.40% (10-year term) to 3.65% (30-year term). The rates of‘Akkim e-Bogeumjari Loan,’ which offers a rate reduction thanks to its online loan agreement system, will be in the range of 3.30% (10-year term) to 3.55% (30-year term).

Bogeumjari Loans are offered to couples whose combined annual income is KRW 70 million or less. In addition, socially underprivileged households (including single-parent and multicultural families or families with three or more children or those with disabilities) with an annual income of KRW 60 million or less will receive at least a 0.4%-point rate discount (or up to a 0.8%-point rate discount for households falling in any two of the above categories).