Types of loans in Korea

Real Estate Security Loan : You borrow real estate as collateral, such as your own house. Although there are advantages of low interest rates and high loan limits because of the certainty of collateral, document processing is complicated. Alternatively, it is also possible to borrow the property you intend to buy as collateral. In this case, however, an authorized broker and a lawyer are required. In this case, there is a limit to existing mortgage loans in accordance with the government policy, but the maximum limit to which a mortgage can be obtained is not to exceed 70 % of the valuation specified by the financial institution. Park Geun-hye in real estate policies since his inauguration by following real estate boom for some time off earlier in the office while stimulus policies in the mortgage silhaengaek.Over time and a surge in U.S. interest rates, such as these debts to the influence of insolvency has also been a problem. Real estate mortgage loans can be carried out by paying interest only monthly without repaying the principal, which can reduce loan performance by adding interest rates to the DTI or LTV.

Mortgage Loan : Simply put, it is a long-term version of real estate mortgages. They borrow money to buy a house and repay it over a long period of 20 to 30 years. What made this by massage was MBS, one of the main causes of the global financial crisis in 2008.

Deposit / installment savings mortgage : It is possible to borrow a fixed or regular savings account as collateral. Mortgage loans may be advantageous because of the large loss of termination when the term expires. Generally, an additional 1 - 2 % interest rate is applied to the interest rate of the corresponding deposit. For reference, it is said that the only product that can be borrowed is the deposit money paid by post office deposit insurance.

Credit loans : borrow without any collateral security in consideration of the person's transaction details, credit rating, and job security. However, since loans are made without collateral, the loan limit is not high and interest rates are high.

Credit card short-term credit card loan (cash advance) : This is also a loan. Although it is one of the major benefits of credit cards, it has a bad influence on credit ratings. Relevant articles

Credit card long-term credit card loan (card loan)

Mr. Hope Hall : General credit loans, credit loans to people who can not be approved for opening a negative account, and are handled by 16 banks on the market. The commercial bank operates a separate computer related to the new hope hole, and since it is purely reviewed by banks without guarantee, the bank has to suffer all losses in the event of an accident. However, the screening process is much simpler and easier than a regular credit loan or a negative bank account, since the loan can be carried out only with confirmation of payment of local medical insurance if the employee is a member of the household. The maximum limit of use is up to 2,500, and loans are usually carried out within 100 % of the annual salary.

Hatfalon : In accordance with government regulations on household loans, most Hutfalon handling agencies stopped receiving loans in the second quarter of 2017. I look forward to your reference.
New Hope Hall in the second financial sector. Unlike the new hope holder, this product is either not covered by the government guarantee or is not covered by the second financial institution. The usage limit is set separately for living and rehashing types. In the case of the second financial sector, it is also divided into mutual financial institutions and savings banks, and given their credit rating, it would be better for them to conduct loans.

Young Hatfalon

In other words, it should be 6 months or more from the date of initial loan execution, as a product that converts to a bank credit for those who have received a credit loan at 20 % or more in non-banking areas below the second financial sector. As the entity of the loan audit is a government agency, not a bank, the loan can be carried out within three to four hours if the document is immediately submitted to one of the commercial banks. Except if there are past overdue records.

A negative account : Like a regular account, a loan account is a form of a loan account that can be taken out at any time and paid back at any time. Interest occurs only as much as the bank's negative balance, and if it is paid immediately after spending it, the interest burden is reduced. (This is why they often charge an additional 0.5 % on loans.) However, it is still a loan and should be aware that the loan relationship with the bank is maintained until the bank closes even if the balance is zero won.

Medium loans : 1 It is a loan package for people with low credit ratings for loans in the financial sector and high credit ratings for savings banks. It mostly shows loan interest rates of 10 %. P2P 8 % is the most famous.Among them are SBI Savings Bank (SBI), JTI (Korea Savings Bank), KB Savings Bank (Hyundai), Good Loan (KB), and Shinhan Savings Bank (Hegron).

Credit account bond mortgage :