Repayment of 990,000 won per month for a loan of 300 million won
[스마트경제] To alleviate the burden of creating a home for young people, an ultra-long-term policy mortgage (home mortgage loan) product with a maturity of 40 years will be released within this year.
On the 14th, the Financial Services Commission announced this year’s focus on the financial consumer sector’s focus on such content.
The Financial Services Commission decided to introduce an ultra-long-term mortgage with a maturity of 40 years later this year in order to reduce the burden on young people to buy a home. An ultra-long-term mortgage pays off relatively inexpensive principal and interest monthly at the level of monthly rent, but unlike monthly rent, it has the advantage of being able to own a house in the long term.
For example, if you borrow 300 million won at an annual interest rate of 2.5%, the monthly repayment amount is 1.19 million won at maturity for 30 years, but if it is extended to 40 years, it decreases by 16.1% to 990,000 won.
In addition, the Financial Services Commission plans to expand support for youth jeon and monthly rent.
The current supply limit set at 4.100 trillion won will be abolished during the first half of the year to provide sufficient supply to meet the needs of young people and consider raising the limit for use per person. The guarantee fee is planned to be lowered from 0.05% to 0.02%.
Meanwhile, the Financial Services Commission will also establish an efficient support system in line with the enforcement of the Financial Consumer Protection Act, which will take effect on the 25th of next month.
Reporter Lee Dong-wook [email protected]
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