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Amid rising interest rates, special home loans are operated for a limited time for one year for end-users who want to buy their own home or for those who want to change their loan to a lower interest rate.

The income requirement, which used to be 70 million won for a married couple's combined annual income, has also been removed, but applications will be accepted from the 30th.



This is reporter Nam Jung-min.



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Applications for the special Bogeumjari Loan, which combines the existing Bogeumjari Loan, general safe conversion loan, and qualifying loan, will be accepted from the 30th.



It is a policy product that provides loans at a fixed interest rate of 4% for the purpose of buying a house, repaying existing loans, or returning rental deposits.



Most notably, the removal of the income requirement from loan eligibility.



Existing Bogeumjari loans could be used up to KRW 70 million in annual combined income.



The upper limit on housing prices that can be supported has been increased from 600 million won to 900 million won, and loans of up to 500 million won are available.



Mortgage approval ratio, LTV, total debt repayment ratio, and DTI are applied at 70% and 60, respectively, as before, but the total debt repayment ratio and DSR regulation are not applied, so it seems that there will be some room for the loan limit.



The expected average interest rate of the special Bogeumjari Loan is 4.65%, which is lower than the average floating rate mortgage loan in the 5% range.



The basic interest rate is 4.75 to 5.05%, but if the house price is less than 600 million and the combined income of the couple is less than 100 million, a preferential interest rate is applied, and if additional preferential treatment such as low-income young people and newlywed households is received as much as possible, it can drop to 3.75%.



As it can be borrowed for up to 50 years at a low fixed interest rate, end users are expected to be very interested.



Not only homeless people, but also single homeowners who want to change loans can apply, and temporary second homeowners can also get a loan on the condition of disposing of their existing home within two years.



[Kim Tae-hoon/Head of the Macrofinance Team, Financial Services Commission: We have prepared this policy to improve the qualitative structure of household debt, such as helping the working class and end-users of housing to prepare their own homes and reducing the risk of fluctuations in loan interest rates.]



Supply of special Bogeumjari loans The limit is 39.6 trillion won, and it is operated temporarily for one year.



It takes about 30 days to execute the loan after going through procedures such as limit review.