HF Holds July’s Bogeumjari Rates at Current Levels

- Rates as low as 2.60% depending on product type and maturity

Korea Housing Finance Corporation (HF, CEO Choi Joon-Woo) said on the 25th that it will freeze the current annual interest rates on Bogeumjari Loan products, its long-term, fixed-rate mortgage loans, for this July.

The rate freeze will keep the interest rates of u-Bogeumjari Loan, a mortgage loan offered through the HF homepage (www.hf.go.kr), and t-Bogeumjari Loan, an offline mortgage loan available at commercial banks, at 2.70% (10-year term) to 3.00% (40-year term). 

At the same time, the rates of Akkim e-Bogeumjari Loan, a cost-saving, online-only Bogeumjari Loan that offers a 0.10%-point rate reduction thanks to its online loan agreement system, will stay in the range of 2.60% (10-year term) to 2.90% (40-year term). 

HF also applies the rates of u-Bogeumjari Loan and t-Bogeumjari Loan to those who switch from non-banking lenders’ floating-rate or bullet-payment mortgage loans to the Deonaeun Bogeumjari Loan scheme. For those who sign up for the scheme online using an online agreement system, the Akkim e-Bogeumjari Loan rates apply. 

An HF official said, “With the launch of the super long-term Bogeumjari Loans, those aged 39 years or younger or newly married or soon-to-be-married couples can take out a Bogeumjari Loan with a maturity of up to 40 years from July 1.”