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Can I deduct my mortgage interest in Korea?
Review the basic rules for the long-term mortgage-interest deduction and prepare registration after refinancing.
Review your mortgage
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This is a preliminary review. Final treatment depends on supporting documents, the tax-year rules and review by payroll or the tax office.
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Long-term mortgage-interest deduction review
PageAdd reference form · Not an official bank form or proof of eligibility
Reviewed by: ____________________ Date: ____________________
How to register after same-bank or interbank refinancing
- Obtain the old bank’s documents
Obtain the previous account’s interest certificate and records of original disbursement, maturity, balance before refinancing and repayment date. Include intermediate lenders for repeated refinancing.
- Ask the current lender to register the loan for year-end reporting
Ask the current lender to register the refinanced home-purchase loan for long-term mortgage-interest deduction reporting. Submit the review and requested documents; do not assume automatic registration.
- Verify the original loan and refinancing chain
Ask the bank to reconcile registration, original borrowing, acquisition value, borrower/owner identity, repayment evidence and certified repayment type. Do not replace the original borrowing date with the refinance date.
- Check registration and the interest certificate
Confirm completion and certificate availability. Check interest paid to both lenders in the refinance year without double counting. Confirm eligible carried principal for extra borrowing or repeated refinancing.
- Submit to your employer
Check housing-loan records in Hometax’s year-end simplification service. If missing or incorrect, request correction or a certificate from the lender and submit it with payroll’s required evidence. Bank registration and claiming through payroll are separate steps.
What changes with additional borrowing or repeated refinancing?
Additional borrowing
Review the eligible existing balance. Refinancing KRW 200m into KRW 300m does not automatically make interest on all KRW 300m deductible.
Repeated refinancing
Trace how much original purchase principal remains through each refinancing.
This page does not determine eligibility using a simple ratio.
Where do bank mortgage borrowers apply?
1. Contact your branch
Ask the branch managing your current mortgage to register it for year-end reporting.
2. Prepare the evidence
Bring the deduction review and refinancing records, and ask for an interest certificate.
3. Check submission details
For mortgages arranged online, confirm the registration route with the lender. Check documents, submission methods and deadlines before visiting.
Current procedures vary by bank. This page does not perform actual account registration.
Prepare for the bank and payroll
| Item | What to prepare |
|---|---|
| Identity and household | ID, resident registration and other evidence requested by the bank or employer |
| Home and acquisition | Full property registry and official assessment at acquisition; use first published value for previously unassessed homes |
| Current and previous loans | Interest certificates and evidence of original disbursement, maturity, repayment type, balances, payoff dates and refinancing transactions |
| Application and review | The lender’s required review/application form. This printable reference supports preparation and does not replace official forms |
Submit personal documents through official bank or employer channels, not through this page.
Limits and applicable rules
General rules for borrowing from 2015 · Limits for interest paid from 2024
| Term and repayment type | Annual limit |
|---|---|
| 15+ years · fixed rate AND non-deferred amortization | 2,000 × KRW 10,000 |
| 15+ years · either qualifying type | 1,800 × KRW 10,000 |
| 15+ years · other types | 800 × KRW 10,000 |
| 10 to under 15 years · either qualifying type | 600 × KRW 10,000 |
The ceiling is shared with housing-rental-loan and housing-savings income deductions. Actual deductions depend on eligible interest, employment income and other limits. Refinancing requires separate review, including the 15-year term from original borrowing.
Which assessed-value threshold applies?
General borrowing-period thresholds are KRW 400m for 2014–2018, KRW 500m for 2019–2023 and KRW 600m from 2024, using the assessment at acquisition.
Refinancing does not automatically reset an old loan to today’s threshold. Acquisition/borrowing spanning a reform boundary needs transitional-law review. This tool does not automatically decide pre-2015 borrowing.
Does the three-month rule use the refinance date?
For an ordinary purchase loan, review borrowing within three months of ownership registration.
A qualifying refinance is traced back to the eligible original loan. It is not automatically rejected simply because refinancing occurred later, and refinancing does not overwrite the original loan date.
Can an all-Yes review still require further checking?
Yes. Actual household ownership, joint debt shares, early repayment, debt assumption, borrower/security changes and term conversion require evidence and their specific rules.
Do not select Yes for unverified facts.
Official sources
Based on public guidance checked on 2 Nov 2026. Recheck final 2026 tax-year guidance and subsequent amendments. Photo illustrates housing.