Korean Job Discussion Forums

[Paddycakes]

Anyone here recently get a mortgage in SK?

I'd like to know what the rate was.

[pluto7]

It depends on your credit rating and the type of rate you choose like fixed or variable rate.

Once you choose floating rate, it would start from 6.**%.
It could reach almost 8% depend on your credit that I know of.
In most cases, varible rate is adjusted by 3-month CD rate(currently 5.35) on a quarterly basis.

This is mortgage rate by banks.
The very right side of table is 'minimum rate'

http://finance.moneta.co.kr/loan/guarantee/InfoBuyFundPurpList.jsp?buy_fund_purp=BF0002&sort=MIN_LOAN_INTR&order=ASC

Mortgage rate in Korea has risen over last two years by almost 2%.