HF freezes Bogeumjari Loan rate for this March

- Preferential rates as low as 3.2%to 3.5% depending on maturity  

Korea Housing Finance Corporation (HF, CEO Choi Joon-Woo) announced on February 29, 2024, that it will maintain the current annual interest rates in March for Bogeumjari Loans, its long-term, fixed-rate, amortized mortgage loans. 

ㅇ For Akkim e-Bogeumjari Loan*, the annual rates will stay in the range of 4.20% (10-year maturity) to 4.50% (50-year maturity).

  * It offers a 0.10 percent point discount for u(t)-Bogeumjari Loan thanks to its online loan agreement and lien registration system.

ㅇ With the additional preferential discounts (up to 1.0% point) available for low-income youth, newlywed couples, the socially disadvantaged (families with a disabled member, single parent, etc.),  and victims to jeonse fraud, the rates will go down to the range of 3.20% (10-year maturity) to 3.50% (50-year maturity).

An HF official said, “We will continue to prudently manage our services to prevent household debt from exceeding manageable levels, aligning with anticipated interest rate cuts this year and the rebound in private household loans. At the same time, we are committed to maintaining our support for policy mortgages, which are essential for both ordinary citizens and home buyers with genuine demand.”