Housing Finance Conference Seeking a Direction in Challenging Time

- HF hosts the ‘2022 Housing Finance Conference’

- In-depth discussions on the global macro-economy and housing finance market 

Korea Housing Finance Corporation(HF, CEO Choi Joon Woo) said on Nov 28 that it held the ’2022 Housing Finance Conference at the Westin Chosun Hotel, Sogong-dong, Seoul, under the theme of ’Chartering a path to go in 3-Highs era.’ <Photo Attached>

In the opening remark, HF CEO Choi Joon Woo said, “Risks are abound due to heightened uncertainties of domestic financial market as well as intensively tight monetary policies of major economies and the prolonged Russia-Ukraine War. When many challenges are expected in the internal and external business environments, I hope this forum will provide an opportunity to identify direction to go for the housing finance through candid discussions among experts from various sectors.” He stressed, “HF hopes this forum will also offer windows to seek competitive public policy goods and ways to promote housing stability of low-to-moderate income households and the underprivileged, while fully carrying out government measures to manage household debts.”

Kim Joo-hyun, Chairman of Financial Services Commission said in the congratulatory remark, “As housing finance has a complex structure and complicated nature, as well as a close relation with the livelihood of people, it is imperative to listen to the voices of many. I hope this forum will bear productive results that produce many ideas and solutions to make housing finance more stable and advanced.” He added, “We will continue to pay a close attention to the advice of many and translate them into policies.”

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

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