HF Freezes the Bogeumjari Loan Rate This May

Korea Housing Finance Corporation (HF, CEO Kim Jae-Chun) announced on the 21st that it will freeze the interest rate of the ‘Bogeumjari Loans,’ its long-term, fixed-rate amortizing mortgage loans, in May 2017.

Currently, the Bogeumjari Loans are available to households whose family annual income is less than KRW 70 million  at interest rates of 2.80% (10-year maturity) to 3.15% (30-year maturity). For socially vulnerable households with family annual income of less than 60 million, including single-parent households, households with a disabled member, multicultural households, and households with three or more children, the loans offer a rate discount of 0.4%.