Home loan from a Thai bank

[davidst01]

I write this thread to find out basic details of getting a loan in Thailand for a house- in the wifes name.

The average price of a decent house where we live is 4m. If I pay 20% deposit and if my wife borrows 3.2mill....

- what would be an average monthly payment if the loan is structured on maximum loan term.

- Her monthly income is around 90,000 a month. Back home a bank would lend based on 30% of gross monthly income. What about here in Thailand? Based on her monthly salary would they lend her 3.2m.

- Finally, are loans structured in Thailand to be flexible? i.e. for early repayment are there penalties? My wife has huge earning potential in the future. Obviously it will differ from bank to bank but I would like to hear from other farang about their experiences.

thanks

[Bunnychow]

Peoples siutations vary, so no one can give a defintive answer on here, why dont you get your wife to talk to the banks and see what they come back with, get her to talk to the likes of K-bank, SCB etc

Farangs will not have direct experience of this seeing in the case of landed properties they cant get a loan anyway.

I have co signed on a mortage for my Mrs, we were not allowed to pay the property off in less than 3 years, if it was then penalties would apply

Edited July 2, 2016 by Bunnychow

[KhonKaenKowboy]

looking at her credit report from the National Credit Bureau would be a good starting point. Krungsri customers can do it online. 3.2 million would be about 20K per month...that's doable on 90K, but not if she has lots of cc and consumer loan debt. The term of the loan is restricted by the age of the person....they won't give a 30 year to a 50 yo person...I think it has to be done at 65, but I saw something the other day saying 70, but it wasn't a conventional mortgage.