This February Sees a Roughly Three-Fold Increase in the Number of JTYK Applicants from a Year Earlier

- For those joining JTYK on March 4 onwards, the amount of monthly payouts goes down by 1.5% on average 

- No change in the monthly payout amounts for existing subscribers and those joining JTYK until March 3 

The number of those who joined the JTYK reverse mortgage scheme this February is about three times larger than that of a year earlier. The sharp gain in this month’s JTYK subscription is mainly due to an average 1.5% cut in JTYK monthly payouts for new subscribers joining the reverse mortgage scheme from March 4, 2019.   

Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) announced on February 26 that the number of those applying for the JTYK scheme from February 1 to 22, 2019, stood at 1,407, which is around three times larger than that of last February (500). 

An HF official said, “It seems that those who have been considering the JTYK scheme have just joined before the cut in monthly payouts. If you wish to receive the same monthly payouts, you may visit an HF branch office in person and apply for the JTYK scheme until February 28, 2019. Online application is also available on the HF homepage(www.hf.go.kr) or our mobile application (Smart Home Financing Application) until March 3, 2019.”

   * Documents Required: Two copies of Household Registration Certificate, a copy of Resident Registration Certificate, a copy of Move-In Household Certificate, a copy of Family Registry Certificate, two copies of Seal Impression Certificate, ID Card, and Stamp