HF Extends Bogeumjari Loan Prepayment Fees Subsidy Event

- 70% of prepayment fees are to be reimbursed for Bogeumjari Loans.

- Proceeds from the prepayment are used for low income earners and end users.

Korea Housing Finance Corporation(HF, CEO Choi Joon Woo) announced on Dec 28 that it extends the Bogeumjari Loan Prepayment Fees Subsidy Event until June, next year. Those who make prepayment of Bogeumjari loans during the event period will be reimbursed with 70% of the prepayment fees by HF, if they meet the terms described in the following event overview. 

Previously, HF had devised the event to use the proceeds from the Bogeumjari Loan prepayment in supporting low-to-moderate income Bogeumjari Loan borrowers. and planned to hold it from Oct 25 to Dec 31, 2021. This time, HF decided to extend the event period until June 30, 2022. 

HF estimates that among those who made prepayment between Oct 25 and Dec 31, 2021, eligible ones would be around 12,000, for whom subsidies would be totalled at est. KRW1.2 billion*.  HF said, “For borrowers who made prepayment until the end of November, 2021, the subsidies will be paid at the end of this month. Borrowers who make prepayment in this December will receive the reimbursement at the end of January, next year.”

* The average reimburse amount per capita: about KRW100,000. 

HF CEO Choi said, “The extension of the event is to reduce the financial cost burden on borrowers who make prepayment and induce more prepayment from borrowers with surplus fund, thereby using the proceeds in providing more focused support for low income earners and end users. We will make continuous efforts to enhance financial inclusion and ensure residential stability of people.”