Bogeumjari Loan Rates Cut to as Low as 2.10% for August

- 0.1%p drop for applications from August 1

Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) announced on July 24, 2020, that it will cut the annual interest rates on Bogeumjari Loan products for August 2020. The Bogeumjari Loan is its long-term, fixed-rate mortgage loans.

With the rate cut, 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, will go down to 2.20% (10-year term) to 2.45% (30-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 go down to 2.10% (10-year term) to 2.35% (30-year term). 

A rate discount is available for socially underprivileged households (including single-parent and multicultural families or families with three or more children or those with disabilities) and newlywed couples. 

    ※ Please note that the lowest possible rate is set at 1.2% even in the case that the additional rate discounts bring the rate below 1.2%.

An HF official said, “Reflecting the recent declines in the market rates, this rate cut aims to ease the interest rate burden for real-need homebuyers.”