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2018-08-14

All These Japanese Banks Lend Housing Loans to Foreigners!

  • 海外不動産コラム


In Japan, most banks will not lend housing loans to foreigners without a Permanent Residence Visa, as it is understandably a big risk for financial institutions to do so. However, there is still hope for those who hold a certain visa type in Japan and also pass the requirements given by the banks. In this article, we will list all the Japanese and overseas banks which lend to non-Japanese and their requirements. 

To obtain a mortgage in Japan while living in another country click here!

Below are the most common requirements needed for non-Japanese who do not hold a Permanent Residency Visa.

・Hold a long-term visa (Spouse Visa, Work Visa etc. )
・Must have signs of staying long-term in Japan such as having a Japanese spouse (Having a Japanese spouse shows the bank that there is a high possibility you will be staying long-term in Japan. Another benefit of this is that you may have your Japanese spouse become a guarantor which can make receiving housing loans from banks an easier task)
・Japanese language ability to read and write personal information on documents
・Is working at a listed or a major company (This can be one way to show the bank that the applicant is financially steady)
・Currently employed and have worked for over 2 years at current company at the time of applying

There are many requirements but the most important one would be to hold a long-term Japanese visa. Non-Japanese who do not hold a long-term visa, it will be merely impossible to get a loan in Japan.

Here are the Japanese and foreign banks that give housing loans to non-Japanese without a Permanent Resident VIsa and the requirements.

*Note: Permanent Residence Visa will be referred as PR from below.

10 Reasons You Should Buy Property in Tokyo

1. Japanese Banks


Banks
Floating Rates
Fixed Rates
Loan Limit

Requirements
The Bank of Tokyo-Mitsubishi UFJ
2.475%
3 Years: 3.000%
5 Years: 3.100%
10 Years: 3.250%
100,000,000 JPY
-Have funds of at least 20% of the property price

-Signs of staying long-term in Japan (Japanese spouse or lived in Japan for over 5 years)

-Currently working at a Japanese company for over 3 years
Mizuho Bank
2.475%
3 Years: 2.550%
5 Years: 2.550%
10 Years: 2.700%
100,000,000 JPY
-Signs of staying long-term in Japan (Japanese spouse or have children attending school in Japan, etc.)
Sumitomo Mitsui Banking Corporation
2.475%
3 Years: 2.850%
5 Years: 3.000%
10 Years: 3.250%
100,000,000 JPY
Signs of staying long-term in Japan
Mitsui Sumitomo Trust and Finance
Applicants under 56 years old: 3.900%~4.400%

Applicants over 56 years old: 4.40%~5.40%
None
300,000,000 JPY
Requires Japanese language ability (read and write)
Shinsei Bank
0.600%
3 Years: 0.850%
5 Years: 0.850%
10 Years: 1.000%
100,000,000 JPY
-Residing in Japan

-Working for over 2 years at current company

-Annual salary of over 3,000,000 JPY

-Employees need to have their business running for over 2 years and have an annual salary of over 3,000,000 JPY (The amount after paying company expenses)

-Applicants must be over 20 years old and under 65 years old

-Note that Shinsei Bank does not do pre-applications


2. Foreign Banks in Japan


Banks
Floating Rates
Fixed Rates
Loan Limit
Requirements
Bank of China

3 Years 2.300%~2.500%
None
-No need for a PR
-Residing in Japan
-Annual salary of over 3,000,000 JPY
-May borrow up to 70% of the property price (50% for investment loan)
-Applicants with savings in a Bank of China account in China may borrow up to 80%
-Must be a property newer than 1982
-Maximum borrowing period: 25 years
Bank of Taiwan
2.800%~2.900%
None
100,000,000 JPY
-May borrow up to 70% of the property price
-Must be a property over 30,000,000 JPY
Shinhan Bank Japan
2.875%~3.375%
None
100,000,000 JPY
-Signs of settling long-term in Japan


4 Banks that Offer Home Loans in Japan to Non-Residents

In conclusion, the 3 most important things for non-Japanese who do not hold a Japanse Residence Visa to have are:

1. A long-term visa
2. Signs of settling in Japan for long-term
3. Has been working at current company in Japan for at least 2 years

Note that some banks do not have fixed rates and no pre-applications. If you have any questions on the different interest rates and what pre-applications are, it will be very beneficial to inquire a bilingual realtor for guidance.

Click here for more detailed information on housing loans.

Beyond Borders Editorial Team: Mori Nishimura

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