MoneyLog｜부동산·경제 인사이트

Recently, real estate communities and finance news have been buzzing about the integration of Korea’s two major government-backed housing loans: Didimdol and Bogeumjari Loan.
The merger has reshaped everything — interest structures, eligibility rules, and even refinancing options.

As interest rates begin to fluctuate again in late 2025, many borrowers are asking: “Should I switch to the new unified loan?” or “Would refinancing now really save me money?”

In this post, we’ll break down what’s changed after the integration, how to decide the right timing for a rate switch, and the practical steps to refinance without penalties.
Stay with us — by the end, you’ll know whether it’s time to move or wait.

In early 2025, the Korea Housing Finance Corporation (HF) announced the integration of two key government-backed mortgage programs — Didimdol Loan and Bogeumjari Loan — into a single unified policy loan.

The decision was driven by two main factors: the rapidly changing interest rate environment and the need for administrative efficiency.

① Interest Environment Shift: Didimdol primarily offered variable rates for low-income borrowers, while Bogeumjari provided fixed rates for middle-income households. As market volatility increased, the distinction became blurred, prompting the government to simplify the structure into one integrated product.

② Policy Unification: Previously, Didimdol was overseen by the Ministry of Land, while Bogeumjari was managed by HF. This often led to confusion among borrowers due to different application and review systems. The integration now allows for a single HF channel where application, review, and disbursement are handled seamlessly, with a new “policy rate + market-linked rate” system ensuring greater flexibility.

One of the biggest changes after integration is the removal of separate eligibility rules. Previously, Didimdol and Bogeumjari had different income and property caps, but now all applicants follow a unified standard.

① Income Limit: The combined household income limit is now ₩85 million (up to ₩100 million for newlyweds or families with multiple children).

② Property Value Cap: The property price limit has been unified at ₩600 million, easing access for genuine homebuyers in both metropolitan and regional areas.

③ Loan Amount & Tenor: The maximum loan is ₩500 million, with repayment terms between 10 and 40 years — similar to before, but with slightly broader coverage.

One of the most notable changes is the shift from a fully fixed-rate system to a more flexible hybrid rate structure.

Under the new model, the loan rate is calculated as: Policy Rate + Market Rate Adjustment.

The policy rate is set by the government, while the market component reflects movements in benchmark rates like the Bank of Korea base rate or treasury yields.

For instance, if the policy rate is 2.5% and the market-linked portion adds 1.0%, the total loan rate becomes 3.5%. This structure allows borrowers to enjoy stability at first and flexibility later, especially when rates fall.

💡 Quick Recap:
▪ Fixed for the first 5 years, then adjusted every 5 years
▪ Average rate: 3.2–3.9% (lower than previous fixed loans)
▪ Prepayment fee reduced to max 0.9%, making refinancing easier

Deciding when to refinance depends on whether the rate difference outweighs fees. A simple rule: if the new rate is at least 0.4 percentage points lower and you have 10+ years left, it’s usually worth considering.

Step-by-Step Process:
1️⃣ Visit the HF website → “Policy Mortgage Rate Switch” section
2️⃣ Log in and retrieve your current loan data
3️⃣ Use the simulator to compare savings
4️⃣ Apply online for rate conversion
5️⃣ Submit documents and await approval

⚠️ Hold off if you already have a low fixed rate under 3%, or your loan matures in less than 5 years. For the best results, check rate updates at the end or start of each quarter.

Before 2025, the Didimdol and Bogeumjari loans served slightly different audiences — one for lower-income families (variable rate) and the other for middle-class borrowers (fixed rate).

Now, they’re merged into one unified policy mortgage managed solely by HF.

Key highlights:
▪ Hybrid rate structure (5-year fixed + market adjustment)
▪ Lower average rate (3.2–3.9%) and higher loan limit (up to ₩500 million)
▪ Unified income and property criteria simplify qualification

In short, the integration prioritizes accessibility and consistency for all genuine homebuyers.

When refinancing or switching rates, the most overlooked factor is the prepayment fee.

💰 Example: ₩200 million × 0.9% × (remaining years ÷ 3) → about ₩900,000 for 1.5 years elapsed.
Fees are waived after 3 years or when switching to another HF policy mortgage.

📑 Document Checklist:
▪ Resident registration & ID copy (for all borrowers)
▪ Income proof (Tax certificate or payslip)
▪ Property verification (title deed, property tax receipt)
▪ Existing loan agreement & payment schedule

🔹 Pro Tip: Submitting documents via HF’s pre-review system can reduce processing time by up to 3 business days.

아닙니다. 자동 전환은 아닙니다.
기존 디딤돌·보금자리론 이용자는 기존 약정 조건이 그대로 유지되며, 원할 경우에만 HF를 통해 ‘금리전환 또는 재약정’ 절차를 거쳐야 합니다.
단, 동일 조건으로 전환 시 중도상환수수료는 면제됩니다.

아니요. 이제는 HF 직접 전환 시스템을 통해, 은행을 거치지 않고도 전환할 수 있습니다.
즉, 기존 대출 은행과 무관하게 HF 홈페이지에서 전환 신청이 가능합니다.

네, 가능합니다.
단, ‘소득금액증명원’ 또는 ‘사업소득 원천징수영수증’ 등 과세증빙이 반드시 있어야 하며, 신고소득이 불충분할 경우 일부 한도가 줄어들 수 있습니다.

통합상품은 5년 단위 변동 반영형이기 때문에, 첫 5년은 고정금리로 유지되고 이후에만 시장금리 변화가 반영됩니다.
즉, 단기 변동에는 영향을 받지 않습니다.

대출 실행 후 3년 이내 매도 시에는 중도상환수수료가 부과됩니다.
단, 본인 명의 주택을 매도하고 새 주택으로 전세자금 또는 이주자금 목적 대출로 전환할 경우 예외적으로 면제 가능합니다.

Q1. Will my existing Didimdol loan automatically switch to the unified one?
→ No. It remains under the original terms unless you apply for a refinancing or rate switch via HF.

Q2. Do I need to refinance through the same bank?
→ No. You can now apply directly on the HF website without going through your previous bank.

Q3. Can freelancers or self-employed borrowers apply?
→ Yes, but income tax certificates or proof of declared income are required.

Q4. What if rates rise again after switching?
→ The rate is fixed for the first 5 years, so short-term market changes won’t affect your loan.

Q5. What happens if I sell my house during the loan period?
→ Early repayment fees apply if you sell within 3 years, except when switching for relocation purposes.

In this post, we reviewed how the 2025 unified policy mortgage reshaped Korea’s main home loan programs and how borrowers can make smart rate-switch decisions.

✅ Key Points:
• Didimdol and Bogeumjari Loans are now merged under HF for easier access.
• The interest rate system shifted to a “policy + market-linked” hybrid model.
• Prepayment fees were reduced, making refinancing more flexible.

If your current rate is more than 0.4% higher and your loan has over 10 years remaining, refinancing into the new unified product may save you significant interest costs.

Thank you for reading — if this guide helped, please share it! Your support keeps MoneyLog going strong. 🐝 Stay tuned for our next article: “Real-world refinancing cases after integration.”