HF Offers Lowest Guarantee Rates for Underprivileged Groups

- Available to low-income and housing-vulnerable people taking a chonsei or monthly rent loan starting from the 27th

HF takes the initiative to ease the financial burden of low-income and socially underprivileged groups. 

Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) stated on May 24, 2019, that it is applying the lowest guarantee rate of 0.05% to ▲ preferential guarantees offered to those on a debt rehabilitation program, those eligible for social assistance, low-income people on a state-funded loan, and households with three or more children; ▲ those on Jinggeomdari (stepping stone) Jeonse Guarantee and a National Housing Fund loan; ▲ those on a Housing Stability Monthly Rent loan; ▲ young people on a Beotimmok Jeonse loan; and ▲ young employees of small- and medium-sized companies who have taken out a jeonse or monthly rent loan.   

The record-low guarantee rate will be available for guarantee applications filed from May 27, 2019, onwards. If eligible borrowers take out a jeonse or monthly rent loan of KRW 30 million and use an HF guarantee, they will pay a monthly guarantee fee of KRW 1,250 on average.   

An HF officer said, “In line with the Financial Services Commission’s chonsei and Monthly Rent Loan Support Program for Youth, this measure aims to expand the beneficiaries of our low guarantee fees so that the benefit of reduced financing costs can also be available to low-income and housing-vulnerable people.      

For more detailed information on eligibility, please visit the HF homepage (www.hf.go.kr) or the Natinal Housing Fund homepage.