Korea Housing Finance Corp Freezes Bogeumjari Loan Rate for September... Minimum Annual Interest Rate 3.90%

Akkim-e standard: 4.90%~5.20% per annum
Up to 1.0 percentage point preferential rate

Korea Housing Finance Corporation will keep Bogeumjari Loan interest rates unchanged for September. If the maximum preferential rate is applied, low-income young people and newlywed households can access the loan at a minimum annual interest rate of 3.90%.

On August 26, Korea Housing Finance Corporation announced that it will maintain the September rates for Bogeumjari Loan, a long-term, fixed-rate, amortizing mortgage. As a result, the standard interest rate for the "Akkim-e-Bogeumjari Loan" will remain between 4.90% and 5.20% per annum, depending on the maturity period. By term, the annual rates are 4.90% for 10 years, 5.00% for 15 years, 5.05% for 20 years, 5.10% for 30 years, 5.15% for 40 years, and 5.20% for 50 years.

If preferential rates of up to 1.0 percentage point are applied, including for low-income youth, newlywed households, people with disabilities, single-parent families, other socially disadvantaged groups, and victims of jeonse rental scams, annual interest rates can be reduced to between 3.90% and 4.20%. For a 10-year term, the minimum rate is 3.90% per annum, and for a 50-year term, it is 4.20% per annum.

However, for the non-face-to-face "u-Bogeumjari Loan" and the face-to-face "t-Bogeumjari Loan," where both the loan agreement and the establishment of the senior mortgage right are not processed electronically, a rate 0.1 percentage point higher than that of the Akkim-e-Bogeumjari Loan will be applied.

This content was produced with the assistance of AI translation services.