I will tell you once I get information from the Bank this weekend (can't find the rates on SCIB website), but from other Banks it appears that most will offer a short 3-4 year "teaser" fixed rate and then the rate will switch to a floating rate which is currently somewhere between 5.25-6.25% depending upon the Bank.

Well it looks like this will be my final post on this thread.....

Just got the call today and SCIB approved a 30 yr mortgage for 85%, we will meet at the land department to close on Friday.

'dvdlock' - Interest rates for SCIB are as follows

first yr = 1.75 %

second yr = 5.00%

then...= MLR - 1 % (current MLR = 6.25%)

Value of the home was 3.5 mil, so ...

first yr = THB 10,700 / mo

second yr = THB 16,000 / mo

then [estimate]...= THB 16,500 / mo (based upon MLR = 6.25%)

Well it looks like this will be my final post on this thread.....

Just got the call today and SCIB approved a 30 yr mortgage for 85%, we will meet at the land department to close on Friday.

'dvdlock' - Interest rates for SCIB are as follows

first yr = 1.75 %

second yr = 5.00%

then...= MLR - 1 % (current MLR = 6.25%)

Value of the home was 3.5 mil, so ...

first yr = THB 10,700 / mo

second yr = THB 16,000 / mo

then [estimate]...= THB 16,500 / mo (based upon MLR = 6.25%)

Many thanks for coming back with the figures.

It is very helpful and provided me with some insight of what to expect.

Many thanks again,

Dave.

I'm 52 yrs old, work permit, confirmed monthly salary of 200K/mo. Wife works in office making about 40K/mo. House cost is 8.5 million new. Small development on On-Nut soi 17. (Yeah, the traffic on On-Nut sucks, but where doesn't it suck? We both have cars)

75% loan (in her name), term of 8 years max - until I'm 60 - was all I(we) could get at Thai banks. HSBC added another 5 years to the loan term on account of my wife being only 42 years old. That was the best we could do. Makes for monthly payments of 55K, which is steeper than I planned for...

Still, it's a very well done small development where the owner is also building his house (was family owned land). Pretty solid quality and design - very well organized builder, great floor plan, wide roads, good security, including cameras along all the streets. 220 M2 living area beats anything for similar price in a decent condo in Sukhumvit area. We plan to live in it or rent it out, and know that selling a used house in Thailand is darn difficult.

Cheapest house was 8.5M most expensive about 15M, so hopefully it won't go down hill too quickly. About 75% sold out of maybe 70 houses. Keeping my fingers crossed...

My wife owns a small lot in Nonthaburi that we will be building a house on in the next year or two. We have less than a million set aside for construction and will need to borrow another 1 - 1.5 million. Has anyone successfully gotten a home construction/improvement loan? If so, are the terms about the same as home purchase?

TIA