January’s Bogeumjari Loan Rates as Low as 2.30%

A 0.1%p increase for applications made from January 1, 2020

Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) said on the 26th that it will raise the annual interest rates on Bogeumjari Loan products, its long-term, fixed-rate mortgage loans, by 0.10% point for January 2020.

The rate increase 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, to 2.40% (10-year term) to 2.65% (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 be upped to 2.30% (10-year term) to 2.55% (30-year term). 

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

HF offers a further rate discount 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 officer said of this rate increase, “HF is reflecting the recent financing rate hike gradually onto Bogeumjari rates to reduce customer burden. We will continue to keep our Bogeumjari rate adjustments on a moderate scale not to place too much burden on low- and middle-income homebuyers.”