HF Freezes Bogeumjari Loan Rate This July

Korea Housing Finance Corporation (HF, CEO Kim Jae-Chun) stated on the 23rd that it will freeze the interest rates on ‘Bogeumjari Loans,’ its long-term, fixed-rate mortgage loans, for July 2017.

With the rate freeze, the rates of ‘Akkim e-Bogeumjari Loan’ will stay in the current range of 2.80% (10-year term) to 3.05% (30-year term), while the rates of ‘u-Bogeumjari Loan,’a mortgage loan offered through the HF webpage, and ‘t-Plus Bogeumjari Loan,’an offline mortgage loan available at commercial banks, will remain at 2.90% (10-year term) to 3.15% (30-year term). 

Bogeumjari Loans are offered to couples whose combined annual income is less than KRW 70 million. Socially disadvantaged households whose annual income is less than KRW 60 million, including single-parent and multicultural households and households with disabilities or three or more children, receive an additional 0.4%p rate discount.