Woori Apartment Loan (General Finance)
- Woori Apartment Loan (General Loan)
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General Apartment
- Woori Bank’s Representative Apartment Mortgage Loan Product
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- Loan Type
- Real Estate Loan
- Eligibility
- Individuals who provide their apartment as a collateral/mortgage (including second collateral on the subscribed apartment)
- Loan Period
- Within 35 years
※ From the minimum loan period of 3 years (when the 3-year fixed interest rate type combination interest rate is opted) to no less than 6 years (when the 5-year fixed interest rate type combination interest rate is opted)
- Loan Limit
- Within the effective collateral price taking into account the collateral acknowledgement ratio
- Overview
- Woori Bank’s representative apartment mortgage loan product
- Characteristics
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- Repayment is available with no early repayment fee, to the extent of 20% of the loan amount
- Loan limit increase is available with the insurance subscription
- Eligibility
- Individuals who provides their apartment as a collateral/mortgage (including second collateral on the subscribed apartment)
- Loan Limit Amount
- Within the effective collateral price taking into account the collateral acknowledgement ratio
- Term
- Within 35 years
※ From the minimum loan term of 3 years (when the 3-year fixed interest rate type combination interest rate is opted) to no less than 6 years (when the 5-year fixed interest rate type combination interest rate is opted)
- Basic Interest Rate
- You can check the lending rate by clicking the “Interest Rate Inquiry” Tab above.
※ You can check out the accurate lending interest rate information at the nearest branch.
- Repayment Method
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- One-Time Full Re-Payment at Maturity: Within the loan period of 10 years
- Monthly Principal Installment Repayment: Within the loan period of 35 years
- Term [period for the interest payment only] is designated at the annual unit, to the extent of 1/3 of the loan period (the maximum term of 10 years)
- One-time repayment at maturity is available, to the extent of 60% of the principal.
- Discretionary repayment is available without the imposition of the early repayment fee, to the extent of 20% of the loan principal, for every year in terms of the original loan execution day (up to 3 years)
※ For the early repayment for the installment repayment loan, be aware that the monthly repayment amount may be adjusted.
- Collateral
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- A pledge is established with the target apartment
- Target Housing
- Apartment
- Related Documents
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- Identification
- Registration certificate or housing subscription contract (upon pledge establishment)
- Resident registration certificate and resident registration abstract
- Seal stamp and seal certificate (upon pledge establishment)
- Other necessary documents, such as income-related document (if necessary)
- Customer Fee
- Stamp tax, bond discount expense, etc.
- Small Deposit Amount Guarantee System
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Small deposit amount guarantee system refers to the insurance certificate or guarantee that can increase the loan limit corresponding to the small leasehold guarantee amount.
- Seoul Guarantee Insurance MCI
- Guarantee fee is borne by the bank (provided, however, that an additional interest rate of 0.1% is imposed)
- Korea Housing Finance Corporation MCG
- Guarantee fee is borne by the customer
- An additional interest rate (0.01%~0.21%) is imposed upon MCG subscription as it is categorized as the loan subject to the housing credit guarantee fund
- Early Repayment Fee
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Discriminative imposition, depending on the remaining period of the loan (the duration up to the maturity) upon early repayment
- Early Repayment Within 3 Years of the Loan Application: 1.5%
- Early Repayment After 3 Years of the Loan Application: Waived
- The fee is waived when the loan is repaid to the extent of 20% of the original loan amount for every year since the original loan application (as of the loan application date).
- Note
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- Loan amount may be restricted, depending on the customer credit ranking, debt-to-income (DTI) ratio, and our review standards.
- Upon a default regarding the loan repayment or interest payment, the overdue penalty rate shall be applied and any unfavorable property disposition may be imposed, such as set-off with other securities, i.e., deposit, (extinguishing the deposit or other bonds of the borrower in return for the debt obligations owed in the identical amount) or legal proceeding initiation.
- Loans may be restricted if the collateral is an apartment located in the property speculation region or if the borrower is a minor, etc. Please make an inquiry to the branch staff for the detailed information.
