HF Launches ‘Bogeumjari Loans for the First-Time Homebuyers’

- Released on Nov 29, applies LTV 80% and the loan limit of KRW 420M for the first-time homebuyers

Korea Housing Finance Corporation(HF, CEO Choi Joon Woo) announced the launch of “Bogeumjari Loans for the First-Time Homebuyers” on Nov 29, which allows first-time homebuyers to take out the loans up to 80% of the house price. 

The current LTV* ratio ranges between 55% and 70%, depending on a location and a type of a collateral house. But with the launch of the new Bogeumjari Loans, LTV is lifted up to 80% of the house value for the first-time homebuyers, whereas the loan limit is expanded to KRW420 million, from 360million. 

 * Ratio of the available loan amount for the value of collateral(house price) at the time of mortgage loan origination. 

Previously, in case of the apartment with the market value of KRW 500M, even first-time homebuyers could take out only up to KRW 350M of the loans, as the max of applicable LTV was fixed at 70%. But with the new product, they can now borrow up to KRW 400M. (applied LTV 80%)

To be not

HF wins prestigious information security award

- The Minister’s Award, hosted by the Ministry of Science and ICT (MSIT), is the information security sector’s most prestigious award. 

- HF, the first quasi-governmental organization to win the award, was chosen for its exceptional cyber-security capability.