HF adjusts Bogeumjari Loan Rate for June

-  Akkim e-Bogeumjari Loan interest rate will range between 4.25% and 4.50%

Korea Housing Finance Corporation(HF, CEO Choi Joon Woo) announced on 27 May the increase of the annual interest rate for June on Bogeumjari Loan product, its long-term, fixed-rate, amortizing mortgage loans, by 0.20%point for maturity of 20, 30 and 40 years and 0.25%point for 10 and 15 years of maturity.

Accordingly, the interest rates of u-Bogeumjari Loan, applied on the HF website(www.hf.go.kr), will range from 4.35%(10-year maturity) to 4.60%(40-year maturity), whereas the rates of Akkim e-Bogeumjari Loan, applied online with electronic documents will be applied with 4.25%(10-year maturity) and 4.50%(40-year maturity), 0.1% point lower than u-Bogeumjari Loan. 

HF explained, “Despite the continued intensive tightening monetary policy of the FED and inflationary pressures, which have unsettled interest rates, the rate increases on the Bogeumjari loans are kept to the minimum, in order to alleviate the financial cost burden on low-to-moderate income households and end users.”

He added, “To reduce the repayment burden on these borrowers, Bogeumjari Loans with 20, 30 and 40 years of maturity, which are mostly opted by young adults or newlywed couples, the rate increase is limited to 0.2%p. ”

In the meantime, those who complete the loan application by the end of May can be applied with the current rate before the increase.