HF Freezes the Bogeumjari Loan Rate This May
- Date 2016-04-26
- Views 545
- The annual rate of ‘Akkim e-Bogeumjari Loan’ hits a record low of 2.60% (10-year term)
□ Korea Housing Finance Corporation (HF, CEO Kim Jae-Chun) stated on the 26th that it will freeze the interest
rate of ‘Bogeumjari Loans,’ its long-term, fixed-rate amortizing mortgage loans, in May 2016.
□ With the rate freeze, the rates of ‘Akkim e-Bogeumjari Loan’* will stay at the level of 2.60% (10-year term) to
2.85% (30-year term), and will even go down to 2.58% when the loan is purchased via Ansim JuMoney, HF's
online mortgage application tool. ‘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, will be offered at
an annual interest rate of 2.70% (10-year term) to 2.95% (30-year term).
* Akkim e-Bogeumjari Loan, an HF mortgage loan, is offered at an interest rate 0.10%-points lower than that
of the regular Bogeumjari Loan thanks to its unique online loan agreement system. This online mortgage
loan is available at KEB Hana Bank (and also Shinhan Bank from May 2, 2016).
□ Meanwhile, HF is also offering a special promotional rate for its new mortgage loan scheme ’Bogeumjari
Loans convertible to JooTaekYeonKeum (JTYK) Loans’ launched on April 25, 2016. Those in their 40s and 50s
who take out the new loan scheme will get an additional interest rate cut of up to 0.3%-points each year.*
The promotional interest rate amount will be get paid when they convert their home loan to a JTYK reverse
mortgage loan.
* There is an additional 0.15%p rate cut offered for Bogeumjari Loan users who agree to convert the loan into
a YTYK loan, and 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). The amount of
these rate discounts will be paid when their Bogeumjari Loan is converted to a JTYK loan.
□ An HF official said, “The interest rate of our Bogeumjari Loans has hit its lowest level. And we provide the
same interest rate for all Bogeumjari Loan customers regardless of their credit score. Plus, an income
deduction of up to KRW 18 million is available for our long-term, fixed-rate, amortizing Bogeumjari Loan
users. Considering all these factors, those who are planning to purchase their first home or who already have
a mortgage with a higher rate should consider our Bogeumjari Loans.”
□ Korea Housing Finance Corporation (HF, CEO Kim Jae-Chun) stated on the 26th that it will freeze the interest
rate of ‘Bogeumjari Loans,’ its long-term, fixed-rate amortizing mortgage loans, in May 2016.
□ With the rate freeze, the rates of ‘Akkim e-Bogeumjari Loan’* will stay at the level of 2.60% (10-year term) to
2.85% (30-year term), and will even go down to 2.58% when the loan is purchased via Ansim JuMoney, HF's
online mortgage application tool. ‘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, will be offered at
an annual interest rate of 2.70% (10-year term) to 2.95% (30-year term).
* Akkim e-Bogeumjari Loan, an HF mortgage loan, is offered at an interest rate 0.10%-points lower than that
of the regular Bogeumjari Loan thanks to its unique online loan agreement system. This online mortgage
loan is available at KEB Hana Bank (and also Shinhan Bank from May 2, 2016).
□ Meanwhile, HF is also offering a special promotional rate for its new mortgage loan scheme ’Bogeumjari
Loans convertible to JooTaekYeonKeum (JTYK) Loans’ launched on April 25, 2016. Those in their 40s and 50s
who take out the new loan scheme will get an additional interest rate cut of up to 0.3%-points each year.*
The promotional interest rate amount will be get paid when they convert their home loan to a JTYK reverse
mortgage loan.
* There is an additional 0.15%p rate cut offered for Bogeumjari Loan users who agree to convert the loan into
a YTYK loan, and 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). The amount of
these rate discounts will be paid when their Bogeumjari Loan is converted to a JTYK loan.
□ An HF official said, “The interest rate of our Bogeumjari Loans has hit its lowest level. And we provide the
same interest rate for all Bogeumjari Loan customers regardless of their credit score. Plus, an income
deduction of up to KRW 18 million is available for our long-term, fixed-rate, amortizing Bogeumjari Loan
users. Considering all these factors, those who are planning to purchase their first home or who already have
a mortgage with a higher rate should consider our Bogeumjari Loans.”