Take the Bank of Japan as an example. The Bank of Japan requires foreign buyers to meet the following conditions before applying for loans:
(1) Obtain permanent residence approval under normal circumstances;
(2) Be able to understand Japanese materials and loan policy documents;
(3) The borrowing age is between 20 and 65 years old, and the final repayment age is no more than 80 years old;
(4) Have the qualification to add team life credit insurance;
(5) The annual salary before tax is more than 2 million yen, and it has been running continuously for more than 3 years;
(6) Meeting other requirements.
What are the advantages for China people to buy a house in Japan?
1. China people can enjoy the same current policies as Japanese people when buying a house in Japan. Japan's own country has not raised the threshold for foreigners to buy a house.
2. You only need to submit simple documents to borrow money to buy a house in Japan. Such as passports and visas, notarized power of attorney. Even enjoy a loan ratio of 60-70%.
3. Except for the advantage of strong loan ratio, the bank loan interest rate of local banks in Japan is the lowest in history, with floating bank loan interest rate around 0.5%, fixed bank loan interest rate only around 1%, and the longest loan period can reach 35 years.
The process of buying a house with a loan in Japan is mainly divided into eight steps:
1, the buyer selects the property and defines the purchase cost budget.
2. The buyer submits a house purchase application.
3. Sign a house purchase contract.
4. The Lender submits materials to the bank to prove.
Lenders need to submit identity certificate, passport and visa, signature or seal, 3-year tax payment record, 3-year bank statement, work certificate, physical examination report, single certificate or marriage certificate and other related materials to the bank.
5. The bank examines and approves the relevant qualifications of the lender.
In this process, the bank will let the lender's identity, income analysis, criminal record and other related information be investigated and verified to ensure that the lender has the loan qualification.
6. Banks approve real estate.
When approving real estate, banks mainly evaluate the value of real estate and investigate the rationality and legality of real estate to ensure that the risk between lenders and banks is minimized.
7. After the approval, the bank will make the next payment.
8. Real estate delivery and transfer.
In addition, the mortgage application age of most financial institutions is over 20 years old and under 65 years old, and the final repayment age cannot exceed 75 years old, so the age of paying off the mortgage is one of the cores in the audit. If it is estimated that the age of paying off the mortgage has reached retirement age and the income may be greatly reduced, then the approval will be more stringent.
Of course, instead of borrowing from Japanese banks, you can apply for overseas branches of large and medium-sized banks in China. Compared with Japanese banks, the demand of such branches will be lower, and the loan amount can reach 50% of the total purchase price.
The above is to introduce how to buy a house with a loan in Japan. Do you know that?/You know what? When buying a house with a Japanese loan, China buyers must master the requirements of relevant banks in advance to confirm whether they meet the loan policy. At the same time, we must pay attention to the risks that may occur in the process of buying a house and avoid them as soon as possible.