I am American, my wife is Thai. We (she) owns 3 rai of land in Buri Ram province. I am interested in buying a small 1 br condo in Bangkok. Could some one fill me in on the process? How much of a down payment do I need or do I have to pay for the whole thing at one time? I would rather finance the condo, but if that is not possible can we put the land up as collateral? My budget is 2 to 4 million baht. I can put 800,000 baht as a down payment if necessary. Depending on how much it is, could have it paid off within the 1st year. I'm getting tired of paying everyone else's mortgages.

Any help please.

No you cant get financing unless its private [seller financed]. Your wife may be able to finance it just have her go to her banker.

A few inappropriate posts have been removed from view. Please stay on topic.

How much is the land worth. You could apply for a loan to build and then use for purchasing a condo. The land will need to have a Chanote and be situated on a Government Road. Interest will be approx. 10% with a compulsory insurance policy paid up front. On 2 mil that will be approx. 80K. you would be gauranter so need an income of some sort. Without a work permit your pretty limited. What about borrowing from your home country. Your comment about paying off in 1 year, why not rent a cheap room for 12 months hence being able to save that 1.2-3.2 mil and then purchase without a loan

How much is the land worth. You could apply for a loan to build and then use for purchasing a condo. The land will need to have a Chanote and be situated on a Government Road. Interest will be approx. 10% with a compulsory insurance policy paid up front. On 2 mil that will be approx. 80K. you would be gauranter so need an income of some sort. Without a work permit your pretty limited. What about borrowing from your home country. Your comment about paying off in 1 year, why not rent a cheap room for 12 months hence being able to save that 1.2-3.2 mil and then purchase without a loan

He's not thai so the lands is useless. Thai banks don't loan foreigner money to buy condos or build on vacant land. If I'm incorrect please let the forum know which bank.

His wife is another story but it would be difficult to get a loan of more then 20-25% of vacant loans because banks don't want it. If he's going that route might as well have mrs finance the condo.

How much is the land worth. You could apply for a loan to build and then use for purchasing a condo. The land will need to have a Chanote and be situated on a Government Road. Interest will be approx. 10% with a compulsory insurance policy paid up front. On 2 mil that will be approx. 80K. you would be gauranter so need an income of some sort. Without a work permit your pretty limited. What about borrowing from your home country. Your comment about paying off in 1 year, why not rent a cheap room for 12 months hence being able to save that 1.2-3.2 mil and then purchase without a loan

He's not thai so the lands is useless. Thai banks don't loan foreigner money to buy condos or build on vacant land. If I'm incorrect please let the forum know which bank.

His wife is another story but it would be difficult to get a loan of more then 20-25% of vacant loans because banks don't want it. If he's going that route might as well have mrs finance the condo.

How much is the land worth. You could apply for a loan to build and then use for purchasing a condo. The land will need to have a Chanote and be situated on a Government Road. Interest will be approx. 10% with a compulsory insurance policy paid up front. On 2 mil that will be approx. 80K. you would be gauranter so need an income of some sort. Without a work permit your pretty limited. What about borrowing from your home country. Your comment about paying off in 1 year, why not rent a cheap room for 12 months hence being able to save that 1.2-3.2 mil and then purchase without a loan

He's not thai so the lands is useless. Thai banks don't loan foreigner money to buy condos or build on vacant land. If I'm incorrect please let the forum know which bank.

His wife is another story but it would be difficult to get a loan of more then 20-25% of vacant loans because banks don't want it. If he's going that route might as well have mrs finance the condo.

Per my post, he would act as gauranter

You can use her land in Buri Ram as security for the mortgage. Depending on the value of the land, the bank will let you know how much mortgage you can get for the condo. But bear in mind, interest rates on mortgages are very high in Thailand. If you can pay back the whole mortgage in 12 months, I would suggest to wait 12 months and then pay cash for your condo. Much better then taking out a mortgage.