The application for the 2nd stage of the Relief Refinance Loan begin Nov. 7.

- Application caps raised: 

House price (400M→600M)·Income cap(70M→100M)·Credit line(250M→360M) 

The Korea Housing Finance Corporation (HF) (CEO Choi, Jun-Woo) announced on Nov. 2 that the second-stage application for its Relief Refinance Loanproduct will commence on Nov. 7, with eased application requirements and an offer of a higher line of credit.  

[Requirement eased] House price to 600M, Income to 100M, Credit limit to 360M (in KRW)

The cap of new requirements for Relief Finance Loan ―for applicants who had taken out mortgage loans* from banking or non-banking sectors with floating or semi-fixed rates― are raised: house price cap from 400M  to 600M; combined income cap from 70M  to 100M for a married couple; and a credit line cap from 250M  to 360M (Note: The refinancing is available within the outstanding balance of an existing loan.)

* This product is not applicable to mortgage loans with longer than five years of maturity and complete fixed rate products until the maturity, and to subsidized loans (including Bogeumjari Loan, Conforming loan, and Didimdol Loan).