HF Cuts Bogeumjari Loan Rate by 0.15%p This January
- Date 2018-12-21
- Views 10,920
HF Cuts Bogeumjari Loan Rate by 0.15%p This January
- Bogeumjari loan rates as low as 2.85% depending on product type and maturity
Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) stated on December 21, 2018, that it will lower the annual interest rates on Bogeumjari Loan products, its long-term, fixed-rate mortgage loans, by 0.15%p for January 2019.
With the rate cut, the 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 remain at 2.95% (10-year term) to 3.20% (30-year term). At the same time, the rates of Akkim e-Bogeumjari Loan, a cost-saving online-only Bogeumjari Loan which offers a 0.10%-point rate reduction thanks to its online loan agreement system and other online features, will stay in the range of 2.85% (10-year term) to 3.10% (30-year term).
A further rate discount is also 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.
※ An additional rate discount of up to 0.80%p available for those with the prime lending rate and a 0.02%p rate discount coupon offered for those using Ansim JuMoney, an HF smartphone application
For those who switch to the Deonaeun Bogeumjari Loan scheme from their existing floating-rate, bullet-payment mortgage loans taken out from non-bank lenders, the u-Bogeumjari and t-Bogeumjari Loan rates apply. For those who sign up for the scheme online using an online agreement system, the Akkim e-Bogeumjari Loan rates apply.
An HF official said, “Considering the recent drop in Korean treasury rates, the burden of low- and mid-income and real-demand home buyers, as well as other relevant factors, we’ve decided to lower our Bogeumjari rates. As Bogeumjari Loans are going to be available at the fixed annual rate range of 2% starting from January next year, these Loans will reduce the interest burden of those who are planning to buy a home.”