Bogeumjari loans to include houses valued at less than KRW 900 million

From January 7, the owners of houses valued between KRW 600 – 900 million will be eligible to apply for the Bogeumjari loan, the long-term mortgage loan at a fixed rate.

Korea Housing Finance Corporation (CEO Joo-jae Lim) announced on January 5 that as the price threshold for high priced taxable house was raised from KRW 600 million to 900 million, those houses valued less than KRW 900 million will be eligible for Bogeumjari loans as of January 7.

Even with the increase in price threshold however, the loan limit will continue to be KRW 300 million per person.

KHFC anticipates this change will increase the number of households eligible for the loan by 370,000.