HF Cuts Bogeumjari Loan Rate by 0.1%p 

- Bogeumjari Loan rates as low as 2.20% depending on product type and maturity from next month onwards

Korea Housing Finance Corporation (HF) said on July 25, 2019, that it will lower the annual interest rates on Bogeumjari Loan products, its long-term, fixed-rate mortgage loans, by 0.10%p for August.

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 2.30% (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 and other online features, will go down to a record-low range of 2.20% (10-year term) to 2.45% (30-year term).

HF offers the u-Bogeumjari or t-Bogeumjari Loan rates for those switching to the Deonaeun Bogeumjari Loan scheme from their existing floating-rate, bullet-payment mortgage loans taken out from non-bank lenders. It also offers the Akkim e-Bogeumjari Loan rates for those signing up for the scheme online using an online agreement system.

A further 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.