Local banks in Japan, is a loan loans relatively conservative candidates Japanese, but in recent years, some banks seem to be &'flexible' to accept loan applications from foreigners, but do not have permanent residence. The current foreign financial institutions in Japan with permanent residence: capital like Tokyo-Mitsubishi Bank and the other (commonly known as "Toshi Ginko" or 'Togin" for short), local banks (generally known as 'Chi-gin) or mortgages, the national
For those who do not have permanent status of housing, please contact the following: general conditions for the Japanese non-residents to apply for a mortgage loan:
1. It's lives in Japan.
2. Must be able to provide evidence of local revenues and the payment record of local taxes. (These items can be 'certified tax certificate' tax, 'or' certificate of employer and income tax withheld)
Japanese way of expression: Certificate of payment of taxes, Nou zei-sho-sho-mei Tax certificate 'Kazei sho-sho-mei employers issued by the income and local taxes withheld, Jorgensen-cho -shu-Hyo.
*Must use products used for the mortgage borrower.
*Must be able to communicate at least at the level and type the name and address in Japanese characters.
For those considering a loan financed purchase of the residence, we recommend that you clarify the following preliminary questions contact banks, the potential:
Conditions and requirements for approval of loans and the documents needed to leave.
Interest rate (percentage, fixed or variable?)
Loan term method of back guarantee, fee, insurance
Typical case of home loan approved for non-Japanese residents:
Maximum loan up to JPY100 million (1 'Oku'), according to the applicant's income. Sometimes more than the maximum number of levels can also be regarded as an object of determination of the Bank.
The previous time, most banks will not finance the entire value of the property, but the priority has been an income sufficient proof of the amount borrowed may be up to almost the full price of the building.
Term of loan: up to a maximum of 35 years (after the age of the applicant should be 75 years or less) the type of loan, the interest rate: fixed or variable.