Korea Housing Finance Corp Freezes Bogeumjari Loan Rates for October... Minimum 3.90% Per Annum

Minimum Annual Rate of 3.90% to 4.20%
with Preferential Rates Applied

Korea Housing Finance Corporation has decided to keep the interest rates for Bogeumjari Loan — a long-term, fixed-rate, amortizing mortgage — unchanged for October.

The Korea Housing Finance Corporation announced on September 28 that it will maintain the Bogeumjari Loan interest rates for October at the same level as the previous month. Accordingly, the "Akkim-e Bogeumjari Loan," which allows for electronic processing of loan agreements and registration of collateral security, will have annual interest rates ranging from 4.90% to 5.20% depending on the term. The term-specific rates are as follows: 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.

Socially disadvantaged groups such as low-income youth and newlywed households, as well as people with disabilities, single-parent families, and victims of rental fraud, may receive up to an additional 1.0 percentage point in preferential interest rates depending on eligibility. With the maximum preferential rate applied, the Bogeumjari Loan interest rate can be reduced to an annual minimum of 3.90% to 4.20%, depending on the term. The minimum rate for a 10-year loan is 3.90% per annum, while the 50-year term offers a minimum rate of 4.20% per annum.

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