Maximum Mortgage Loan

[TexasRanger]

Currently fishing for home loans due to the high price of borrowing overseas and seems the only way for me to borrow here is for the wife to get a mortgage based on my earnings, been offered 60% so far over 10 or 15 years, has anyone here managed to borrow more than 60%? Just wondering if it varies from bank to bank or if 40% deposit is standard.

[yoshiwara]

Your avatar seems quite suitable for what you have in mind.

[TexasRanger]

Your avatar seems quite suitable for what you have in mind.

Erm, yeah, thanks for the help.

[patekatek]

We struggled to get any decent mortgage financing for a six million baht house. Before we started the construction, we checked with several banks about borrowing. "No Problem" was the response. Well, once started and the paperwork was shuffled from the front desk to the underwriters things drastically changed. My IRA and 401K income did not appear to be considered although I had been told it would be. My wife filed income papers stating 40k baht per month and even with 34 rai of paid for land, the most we could get from a lender was 2.6 M baht. Needless to say my IRA has been getting its' A** kicked and I'm sure more US taxes will have to be paid next year.

I am amazed the the banks don't even want to consider the fact that falang have to prove income far above the average income just to be able to live over here. I'm here on a "married to a Thai" visa so the likely-hood of abandoning my home is small at best.

Bottom line: Do not trust any bank. They will jerk you around like a puppet.

[TexasRanger]

Sounds like to usual ball ache here, but I am at the mercy of the banks as affording a deposit is one thing but to save up the full amount will take a lot of time so I would much rather borrow and get on with it.