HF to offer Bogeumjari mortgage loans with family benefits

- Interest rates lowered further if a family member uses HF product -

Housing & Finance (HF, CEO Joo-jae Lim) announced on October 1, 2010 the release of Bogeumjari mortgage loans with family benefits, which provide an additional 0.1%p discount on the interest rates for customers with family members presently using an HF product.

This loan product is designed to allow u-Bogeumjari loan applicants to receive an additional discount on interest rates if any of their direct family members, including those of their spouses, has joined HF's housing guarantee (for rental assistance) or housing pension plans.

An HF official said, “This product employs the 'family marketing' technique, which aims to strengthen ties with customers who have family members currently covered by HF's other products, and aligns well with HF's vision of providing financial assistance suited for different stages of life for all low-income families."

Those interested in using this product must log into the HF website or the u-Bogeumjari loan website, submit an application for a u-Bogeumjari loan online, and send proof of the direct family relationship and supporting documents for loan qualifications to the respective HF branch office by post.

In line with the government's "8/29 measures to normalize transactions in the housing market" and in response to issues arising from the increasing number of single-person households, HF also revised its income estimation method to recognize a minimum cost of living of 10 million won for single-person households who submit a certified copy of their resident registration. In the past, the incomes of single-person households without documented proof of income were estimated based on verification of their national pension or national health insurance payments.