PhuketAmerican Posted September 3, 2015 Share Posted September 3, 2015 I have been renting for 3 years and now have the opportunity to buy a modest size house in Phuket with several apartments, an office, and swimming pool attached for only a few million baht. I want to act now and buy it out right. My plan is to use bank financing and I have found one list of requirements that foreigners must meet certain condition which I meet since I have been employed here full time. Does anyone here have experience with getting a few million baht of home financing with a thai bank? I am also looking into borrowing from a US bank in $$ but could be expensive to pay back. Link to comment Share on other sites More sharing options...
ToddinChonburi Posted September 4, 2015 Share Posted September 4, 2015 Are you married to a Thai ? not sure how you can buy if not. Contact a Laywer to cover your butt. Link to comment Share on other sites More sharing options...
PhuketAmerican Posted September 4, 2015 Author Share Posted September 4, 2015 I am married to a Thai, we got married in the USA and I am going to BKK to get the translated copy of our marriage certificate approved to get our marriage registered here. She earns >20k THB/month and has a home food business that makes 15-25k every month as well. I plan to apply to SCB and Krungsri Bank (where I was able to get a credit card) for a 20 year home loan with 10% down. Link to comment Share on other sites More sharing options...
ToddinChonburi Posted September 4, 2015 Share Posted September 4, 2015 Sounds like you have a good plan ahead maybe you can find a very good contractor to inspect the building for you to avoid to many headaches in the future. Electrical , plumbing , windows , roof . Link to comment Share on other sites More sharing options...
PattayaPhom Posted September 5, 2015 Share Posted September 5, 2015 Thai MMR is about 7.5%...surely you could get cheaper from US. Link to comment Share on other sites More sharing options...
PhuketAmerican Posted September 6, 2015 Author Share Posted September 6, 2015 Can you get US mortgages to buy property in Thailand? I live here full time and I am paid in baht. If anyone has experience getting a foreign mortgage to a house in Phuket let me know...could get 3.5% in USA but have to hope fx rate dont collapse, since Id have pay back dollars. Link to comment Share on other sites More sharing options...
blackcab Posted September 6, 2015 Share Posted September 6, 2015 Thai MMR is about 7.5%...surely you could get cheaper from US. I doubt the OP will get MRR. Perhaps MRR +3 to +5%. Link to comment Share on other sites More sharing options...
MobileContent Posted November 18, 2015 Share Posted November 18, 2015 Can you get US mortgages to buy property in Thailand? I live here full time and I am paid in baht. If anyone has experience getting a foreign mortgage to a house in Phuket let me know...could get 3.5% in USA but have to hope fx rate dont collapse, since Id have pay back dollars. You can get a mortgage in Singapore if you are an expat in Thailand, paid a minimum of 12,000 S$ but you still have to pay 50% down plus the property development must be a high value development. I know an expat in Phuket that bought a villa on Koh Yao and he financed around 300,000 S$ and payed 50% down-payment. Another US citizen bought a property on Sukhumvit at 14 million Baht and he took a mortgage of 9 million Baht but he is employed by J&J in Singapore. HK banks too give mortgages for expats but they are mainly for HNI. Link to comment Share on other sites More sharing options...
trogers Posted November 18, 2015 Share Posted November 18, 2015 "...the opportunity to buy a modest size house in Phuket with several apartments, an office, and swimming pool attached for only a few million baht" When the price is that cheap, be wary of an illegitimate land title. Link to comment Share on other sites More sharing options...
Rdrokit Posted November 19, 2015 Share Posted November 19, 2015 I am married to a Thai and got a house loan through a Thai bank (Krung Thai). I had to put down 50% and prove I had an income to make payments. First 3 months, no interest than .25% interest increase each month until it reached 5.25%. Paid it off in 6 years. Link to comment Share on other sites More sharing options...
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