What is a Bogeumjari Loans?
- A type of long-term mortgage loan common in advanced nations, designed by HF to allow customers to make P&I repayment over a period of ten to fifty years.
Eligible Applicants
- Those aged 20 or over as of the loan application date
Interest Rate
- Fixed rate applied from the date of loan extension to maturity (based on Published Interest Rates)
- Prime rate(Maximum 1.0%p)
- Households under age 40 with annual income KRW70M or less(0.1%p)
- Newlywed households (0.2%p)
- Households with newborn babies(0.2p%)
- Households with three or more children, multi-cultureal families, families with the disabled, and single-parent families(0.7%p each)
- Houses with G-Seed Certification, Grade 2 or higher(0.1%p)
- Victim of home rental scam (1.0%p)
Eligible Houses
- Houses listed on the official registry(certified copy of the registry) of values less than 600M
Loan Limit
- Up to 70% of the collateral house value
- Minimum KRW 1 M to maximum KRW 360 M
Loan Maturity
- 10 years, 15 years, 20 years, 30 years, 40 years or 50 years
Repayment Method
- Repayment methods consist of equal monthly installments of principal (and interest) (Incremental installment repayment available for u-Bogeumjari Loans)
Proof of income
Type of income | Proof |
---|---|
Earned income | Certificate of income, withholding tax receipt on earned income, and certificate of income tax withholding, etc. |
Business income | Certificate of income, withholding tax receipt on business income, final return of tax base, and voluntary payment statement, etc. |
Pension income | Letter of confirmation of entitlement to pension benefits, etc. |
Other income | Recognized by HF/National pension payment certificate, national health/long-term care insurance payment certificate, and certified copy of resident registration (minimum cost of living support), etc. |
Customers may obtain various products (Regular Bogeumjari Loan, Prime Rate Bogeumjari
Loan, Installment Payment Bogeumjari Loan) via Internet or by visiting financial institutions.