HF Adjusts Bogeumjari Loan Rates for November

Bogeumjari loans starting at 2.20% for applications made from November 1 onwards

Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) stated on October 28, 2019, that the annual interest rates of Bogeumjari Loan products, its long-term, fixed-rate mortgage loans, are to be adjusted from 2.20% to 2.55% from November. 

With the adjustment, 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 be in the range of 2.30% (10-year term) to 2.55% (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 in the range of 2.00% (10-year term) to 2.25% (30-year term). 

An HF official said, “The Korean government bond rates and market rates, including the mortgage rates of commercial banks, have recently been on a steady rise. In this market context, rate adjustments to Bogeumjari Loan products were inevitable. We, however, have managed to keep the adjustments minimal not to give too much burden to our customers.” 

Bogeumjari Loan rates are adjusted each month in consideration of market conditions and other various factors. The lower of the rates at either the time of loan application or loan approval applies.