HF Cuts Bogeumjari Loan Rate by 0.20%p on the 16th
- Date 2016-06-10
- Views 573
- The interest rate of ‘Akkim e-Bogeumjari Loan’ down to as low as 2.40% per year (10-year term)
- An additional rate discount of 0.15%p to 0.30%p for those taking out ‘Bogeumjari Loans convertible to
JooTaekYeonKeum Loans‘
□ Korea Housing Finance Corporation (HF, CEO Kim Jae-Chun) said on the 10th that it will lower the annual
interest rates of its fixed-rate amortizing Bogeumjari Loans by 0.20% points on the 16th on the back of a
recent cut in the base rate by the Bank of Korea.
□ With the rate cut, the annual interest rates of ‘Akkim e-Bogeumjari Loan*’ will be at the level of 2.40% (10-
year term) to 2.65% (30-year term), and will even go down to as low as 2.38% when the loan is purchased
via AnsimJuMoney, HF's online mortgage application tool. For ‘u-Bogeumjari Loan,’ an HF mortgage loan
available online at its webpage, and ’t-Plus Bogeumjari Loan,’ an HF offline mortgage loan available at
commercial banks, an annual rate of 2.50% (10-year term) to 2.75% (30-year term) will be applied.
* Akkim e-Bogeumjari Loan, an HF mortgage loan, is offered at an interest rate of 0.10%-points lower than
that of the regular Bogeumjari Loan thanks to its online loan agreement system. This online mortgage loan is
available at KEB Hana Bank and Shinhan Bank (also KB Bank from July 1, 2016).
□ At the same time, those in their 40s and 50s who take out a ‘Bogeumjari Loan convertible to
JooTaekYeonKeum Loan’ can get an additional 0.3%p promotional rate cut *. The rate discount amount will
be paid as an incentive when converting the home loan to a JTYK reverse mortgage loan.
* There is an additional 0.30%p rate cut offered for new Bogeumjari Loan customers who switch from their
previous bullet or floating-rate mortgage loan (taken out before December 31, 2015), and an additional
0.15%p rate cut offered for Bogeumjari Loan users who agree to convert the loan into a YTYK loan.
□ An HF official said, “Given the recent drop in long-term interest rates and the cut in the base rate by the
Bank of Korea, we decided to lower the rates of our Bogeumjari Loans. As our mortgage loans offer record-
low interest rates, easier eligibility criteria, and tax savings, those who are looking to purchase their first
home or who already have a mortgage with a higher rate should seriously consider our Bogeumjari
mortgage loans.”
- An additional rate discount of 0.15%p to 0.30%p for those taking out ‘Bogeumjari Loans convertible to
JooTaekYeonKeum Loans‘
□ Korea Housing Finance Corporation (HF, CEO Kim Jae-Chun) said on the 10th that it will lower the annual
interest rates of its fixed-rate amortizing Bogeumjari Loans by 0.20% points on the 16th on the back of a
recent cut in the base rate by the Bank of Korea.
□ With the rate cut, the annual interest rates of ‘Akkim e-Bogeumjari Loan*’ will be at the level of 2.40% (10-
year term) to 2.65% (30-year term), and will even go down to as low as 2.38% when the loan is purchased
via AnsimJuMoney, HF's online mortgage application tool. For ‘u-Bogeumjari Loan,’ an HF mortgage loan
available online at its webpage, and ’t-Plus Bogeumjari Loan,’ an HF offline mortgage loan available at
commercial banks, an annual rate of 2.50% (10-year term) to 2.75% (30-year term) will be applied.
* Akkim e-Bogeumjari Loan, an HF mortgage loan, is offered at an interest rate of 0.10%-points lower than
that of the regular Bogeumjari Loan thanks to its online loan agreement system. This online mortgage loan is
available at KEB Hana Bank and Shinhan Bank (also KB Bank from July 1, 2016).
□ At the same time, those in their 40s and 50s who take out a ‘Bogeumjari Loan convertible to
JooTaekYeonKeum Loan’ can get an additional 0.3%p promotional rate cut *. The rate discount amount will
be paid as an incentive when converting the home loan to a JTYK reverse mortgage loan.
* There is an additional 0.30%p rate cut offered for new Bogeumjari Loan customers who switch from their
previous bullet or floating-rate mortgage loan (taken out before December 31, 2015), and an additional
0.15%p rate cut offered for Bogeumjari Loan users who agree to convert the loan into a YTYK loan.
| Loan maturities and interest rates (unit:%) | 10-yr | 15-yr | 20-yr | 30-yr |
| u and t-Plus Bogeumjari Loans | 2.50 | 2.60 | 2.70 | 2.75 |
| ▸ Loan agreement online (Akkim e-Bogeumjari Loans) ▸ Smartphone application Ansim JuMoney (rate discount coupon) |
(-) 0.10%p (-) 0.02%p |
|||
| Interest rates to be applied | 2.38 | 2.48 | 2.58 | 2.63 |
| ▸ Bogeumjari Loans convertible to JTYK Loans | (-) 0.15 to 0.30%p | |||
□ An HF official said, “Given the recent drop in long-term interest rates and the cut in the base rate by the
Bank of Korea, we decided to lower the rates of our Bogeumjari Loans. As our mortgage loans offer record-
low interest rates, easier eligibility criteria, and tax savings, those who are looking to purchase their first
home or who already have a mortgage with a higher rate should seriously consider our Bogeumjari
mortgage loans.”