KHFC increases number of financial institutions handling u-Bogeumjari loan

Applications received from June 7, loans extended from June 14

The number of financial institutions handling u-Bogeumjari loan was increased. The loan, which was previously offered through IBK and Samsung Life only, can also be applied for at KB, Shinhan, Woori, and Hana banks. 

The Korea Housing Finance Corporation (KHFC, CEO Joo-jae Lim) announced on June 7, 2011 that it signed agreements with KB, Shinhan, Woori, and Hana banks at the Korea Federation of Banks on that day in a move to increase the number of financial institutions handling u-Bogeumjari loans. From July 18, the loan can also be applied for at Gyeongnam, Gwangju, Daegu, and Busan banks.

″By making the u-Bogeumjari loan available at many more financial institutions, borrowers can use the loan without changing their main transaction bank. KHFC will continue its efforts to cut costs and offer more convenience to customers,″ said a KHFC official.

The application and consultation for u-Bogeumjari loan can be made online without visiting a financial institution. It is a long-term, fixed-rate mortgage loan with amortization that offers a minimum annual rate of 4.6 percent (3.6 percent for low-income households without a home). Approximately 51,000 people used the loan since it was introduced on June 21, 2010,