HF Supports Housing Security for Self-Employed People

 100% Jeonse loan guarantees available at the lowest rate

Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) announced on the 25th that it launched the Exclusive Jeonse Loan Guarantees for the Self-Employed to support housing stability for self-employed people with low earnings. 

The new guarantee scheme is available for self-employed individuals on the simplified taxation regime for at least one year and with less than KRW 30 million in annual earnings. Under the scheme, HF offers 100 per cent guarantees on loans of up to KRW 40 million (or KRW 50 million when claims are preserved) to self-employed non-homeowners with a jeonse or other lease agreement valued at KRW 500 million or less (or KRW 300 million or less for regions other than the Seoul metropolitan area) at the lowest guarantee rate of 0.05%.

An HF officer said, “We hope this guarantee scheme reduces housing costs for self-employed people who work to contribute to the nation’s economic development. We will continue our efforts to deliver inclusive housing finance services.”