Mortgage
lastmod 2025-06-29created 2025-02-0714 edits
From a legal standpoint, a mortgage is the lien established on real estate when that real estate serves as collateral in a financial transaction, or the instrument that represents the lien, and a mortgage loan (home mortgage loan) refers to a system that issues such mortgage securities to lend long-term housing funds. In everyday use, however, 'mortgage loan' is often shortened to simply 'mortgage'. In South Korea, it is operated by the Korea Housing Finance Corporation.
Categories
- Korean: 담보 인정 비율 (LTV; Loan to Value)
- Korean: 총부채 상환 비율 (DTI; Debt to Income)
- Korean: 총부채 원리금상환비율 (DSR; Debt Savings Ratio)
- Korean: 주택청약
Loan products
| Category | Housing and Urban Fund (HUG) | Korea Housing Finance Corporation (HF) | Commercial banks | ||||||
| Didimdol | Newlyweds | Non-homeowners | |||||||
| General | Newlyweds | First-time buyers | Newborn special | First-time buyers | General | General | First-time buyers | ||
| Assets | KRW 469M or less | No limit | No limit | ||||||
| Home price | KRW 500M or less | KRW 600M or less | KRW 500M or less | KRW 900M or less | KRW 600M or less | KRW 600M or less | KRW 600M or less | No limit | |
| Annual income | KRW 60M or less | KRW 85M or less | KRW 70M or less | KRW 130M or less | KRW 85M or less | KRW 70M or less | No limit | ||
| Loan limit | KRW 250M or less | KRW 400M or less | KRW 300M or less | KRW 500M or less | KRW 400M or less | KRW 360M or less | KRW 420M or less | No limit | KRW 600M or less |
| LTV | 70% | 70% | 80% | 70% | 80% | 70% | 80% | 70% | 80% |
| DSR | No limit | For reference only | 40% (secondary financial institutions 50%) | ||||||
| Interest rate | 2.65~3.95% | 2.45~3.95% | 2.45~3.60% | 1.6~3.3% | 2.35~3.65% | 3.95% | Market rates | ||
See also
Favorite site
- Mortgage - Wikipedia
- "What's a mortgage loan?😳" Personal finance terms even elementary schoolers can understand! LTV, DTI, DSR - YouTube
- (Complete summary) Mortgage loans, newlyweds, first-time buyers, newborn special: which is best, explained simply. (Godaejang x Gangnamkong Part 5) - YouTube