The Korea Housing Finance Corporation has announced that it will freeze the interest rate for its home loan program in September. Following a 0.30 percentage point increase in July, the rates will remain unchanged for the second consecutive month.
The corporation stated on August 26 that the interest rate for the long-term, fixed-rate, amortized home loan, known as the Bogumjari Loan, will be held steady. As a result, the 'Akkimee-Bogumjari Loan' rates will range from 4.90% to 5.20% depending on the loan term. Specifically, the rates are 4.90% for a 10-year term, 5.00% for 15 years, 5.05% for 20 years, 5.10% for 30 years, 5.15% for 40 years, and 5.20% for 50 years.
The Bogumjari Loan rates have been on an upward trend this year. The Korea Housing Finance Corporation raised rates five times: by 0.25 percentage points in January, 0.15 percentage points in February, 0.30 percentage points in April, 0.25 percentage points in May, and 0.30 percentage points in July. However, rates were held steady in June, and after the July increase, they remained unchanged in August and September.
Low-income youth, newlywed couples, socially disadvantaged groups such as the disabled and single-parent families, as well as victims of rental fraud, can receive an additional preferential interest rate of up to 1.0 percentage point. In this case, the minimum rates would be 3.90% for a 10-year term and 4.20% for a 50-year term.
For the non-face-to-face 'U-Bogumjari Loan' and the face-to-face 'T-Bogumjari Loan,' the interest rates are set 0.1 percentage points higher than those of the Akkimee-Bogumjari Loan.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.