HF Freezes Special Bogeumjari Loan Rate for April

- 4.05% to 4.35% for preferential type and 4.15% to 4.45% for general one. 

Korea Housing Finance Corporation(HF, CEO Choi Joon Woo) announced on March 30 that it retains the current annual interest rates for April on the Special Bogeumjari Loan product, its long-term, fixed-rate, amortized mortgage loans. 

 - Accordingly, the interest rate of preferential type will range from 4.05 %(10-year maturity) to 4.35%(40-year maturity), whereas general type interest rate will be applied with 4.15%(10-year maturity) and 4.45%(40-year maturity).

 - In addition, low-income young adults, newlywed households and socially disadvantaged groups can benefit from additional rate discount, which set the final interest rates between 3.25 %(10-year maturity) and 3.55%(50-year maturity).

HF said, “Although the recent market interest rates somewhat have shifted to the downward trend, financing market uncertainties in the internal and external environment largely remain, including that of U.S financial market, which led to the decision to retain the rates for Special Bogeumjari loans in April.”

In the meantime, HF enhanced the accessibility of the loan application by increasing bank counters for those unfamiliar with online application. The contact-based application has been available at the Standard Chartered Bank Korea before March 27, when it became accessible at the Industrial Bank of Korea. Offline counters are planned to include those of NH, Woori and KEB Hana Banks in May.

※ Reference: Special Bogeumjari Loan Eligibility Criteria