[이코노믹리뷰=진종식 기자] With rising US Treasury yields, rising market interest rates and growing concerns about inflation, the mortgage interest rates of the common people are also rising.
According to the Bank of Korea’s monthly household loan interest rate trend from August of last year to January of this year, according to the Bank of Korea on the 9th, the household loan interest rate based on the amount of new treatment is 2.55%, 2.59%, 2.64%, 2.72%, 2.79%, and 2.83% per month. Recorded and continued to rise over the past five months.
In particular, interest rates on U.S. government bonds, which determine interest rates in the global financial market, continue to rise, and interest rates on domestic treasury bonds are also on the rise.
According to the Financial Supervisory Service’s trend of interest rates on mortgage loans by the floating rate department of commercial banks, the highest interest rate for the month of March was 4.05%, and the average monthly interest rate for the five commercial banks was 2.76%. As such, the impact of the economic recovery caused by the spread of the Corona 19 vaccine is expected to increase the burden of repayment of the users in charge by boosting loan interest rates.
In an environment where interest rates rise and inflation concerns are rising, there are also products that allow you to use mortgage loans at a fixed rate for 20 years to maturity. It is a stepping stone loan most commonly used by ordinary people to get their first home.
Stepping stone loan for home improvement, 1.5% annual fixed interest rate for 20 years maturity
This loan can be used by the head of households 19 years of age or older as of the date of receipt of the loan as the first or five-year homeless person who intends to use a mortgage loan. And all the householders, including the head of the household, must be homeless for more than 6 months for the period of support (based on the date of consolidation) on the resident registration card)
The loan interest rate is a 1.5% annual fixed-rate loan, which is a condition for equally repaying the principal and interest.
The loan limit can be up to 200 million won per house, up to a maximum of 70% of the house price (Korea Appraisal Board survey price).
Houses eligible for loans are apartments with a residential area of 85㎡ or less and a house price of 600 million won or less (existing apartments, unsold apartments, new occupied apartments, etc.). However, the housing for loans is the metropolitan area (Seoul, Gyeonggi, Incheon) and the five regional metropolitan cities (Busan, Daegu, Gwangju, Daejeon, Ulsan), and cities with a population of more than 500,000 (Gimhae, Jeonju, Changwon, Cheonan, Cheongju, Pohang), Loans are available only in Sejong City
The loan application period must be applied before the registration date of ownership transfer.
The loan period is 20 years, and it is a condition for equal installment of principal and interest (a period in which interest is paid only for one or three years).
If the loan is repaid early within 3 years, an early repayment fee of 1.8% per annum is required. For early repayment over 3 to 5 years, 0.9% per year, and for early repayment over 5 years, there is no early repayment fee.
The early repayment fee is [조기상환금액 x 조기상환수수료율 x 경과기간(대출 취급일부터 상환일 전일까지) / 365일(윤년 366일)]It is the amount calculated by.
In the case of intermediate repayment of some amounts, up to 50% of the initial loan amount handled within 3 years from the date of execution is possible in units of million won. In the case of prepayment in full, the financial institution must be notified 7 business days in advance.
Since this loan is a profit-sharing type home mortgage loan, if the sale of the house (after 3 years) or the sale of the loan is due to mid-repayment, a portion of the profit must be attributed to the fund.
In the event of profit from the sale, the attribution rate is attributed to the housing fund (within 5% of the fund’s maximum return per year) as the ratio of the original purchase price to the average loan balance of the fund, and there is no need to attribute the disposition profit if it is repaid early within 3 years. . However, there is an early repayment fee.
KB Kookmin Bank, Shinhan Bank, and Woori Bank are the only banks that handle stepping-stone loans for home building.