HF Lowers Bogeumjari Loan Rates by 0.10%p for September

- Rates as low as 2.00% depending on product type and maturity

Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) announced on August 21, 2020, that it will cut the current annual interest rates on Bogeumjari Loan products, its long-term, fixed-rate mortgage loans, by 0.10%p for this September.

The rate cut will bring 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, down to 2.10% (10-year term) to 2.35% (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 the range of 2.00% (10-year term) to 2.25% (30-year term).

A rate discount is available to 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, “In response to declining borrowing costs in the market, we have decided to lower our interest rates to minimize the interest rate burden for real-need homebuyers.”