Mortgage Calculator — South Korea
Estimate your monthly mortgage payment in KRW using South Korea's typical rates, and see the full interest cost. No signup, no tracking.
Local rates & providers
Mortgage rates ≈ 3.8–5% p.a. BOK base rate 2.50% (June 2026 hold, 7th consecutive). New Gov. Shin Hyun-song. Providers: KB Kookmin, Shinhan, Hana, Woori, NH, plus internet banks Kakao, Toss.
Reference figures, ~2026. The Bank of Korea (BOK) sets the policy rate; your offered rate depends on your profile, deposit and the lender. Verify current rates before deciding.
Worked example
For every ₩1,000,000 borrowed at 4.50% over 20 years:
- Monthly payment: ₩6,326
- Total repaid: ₩1,518,359
- Total interest: ₩518,359
Scale this to your loan amount — e.g. ₩3,000,000 costs about 3× these figures. A larger deposit and shorter term cut the interest sharply.
Frequently Asked Questions
How is the mortgage payment calculated in South Korea?
Lenders use the reducing-balance formula P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan, r the monthly rate and n the number of months. The fin·calc tool applies the same formula with South Korea's typical rate.
What is the current home loan rate in South Korea?
As a 2026 reference, typical rates are around 4.5% per year, linked to the Bank of Korea (BOK) policy rate. Mortgage rates ≈ 3.8–5% p.a. BOK base rate 2.50% (June 2026 hold, 7th consecutive). New Gov. Shin Hyun-song. Providers: KB Kookmin, Shinhan, Hana, Woori, NH, plus internet banks Kakao, Toss.
How much deposit do I need?
A larger down payment lowers both your rate and total interest, and reduces the lender's risk. Most lenders also add valuation, legal and registration costs on top of the deposit.
Can I reduce the total interest?
Yes — a bigger deposit, a shorter term, and extra or early repayments all cut total interest significantly. Use the prepayment option in the calculator to see your exact saving.