Offering of ‘Preferential Rate Bogeumjari Loan" Resumes

  KHFC resumed issuance of "preferential rate boguemjari loans", which offer a discount on interest of as much as 1% for low income-earners who do not own homes. 

  On August 19, KHFC announced that it will begin providing preferential rate bogeumjari loans on August 27 as a part of the real estate control measures announced by the government on January 31.  The low-rate loan is being offered to help low-income earners become home owners.

  Non-home owning households earning less than KRW20 million annually are eligible for "Preferential Rate Bogeumjari Loan" of up to KRW100 million.  The loan is available for homes of less than 85㎡ and priced less than KRW 300 million.  The loans had been offered temporarily for one year from Oct. 31, 2005 through Oct. 31, 2006.

  Three different interest rates are offered depending on the borrowers' incomes.  If the annual income is less than KRW16 million, the interest rate is lowered by a full 1% off of the rate on regular bogeumjari loans.