Home Loan without PR

[Mikawa Ossan]

Has anyone here ever applied for and been approved of a home loan despite not having permanent residence status?

I have looked around a little, and it seems like banks are very unwilling to lend to foreigners without PR status, but I hold out hope that there must be a way.

 

[Glenski]

Yes, banks are hesitant, but it has been done. A few of my friends did it with spouse visas. Don't expect the first bank to say yes.

If you are NOT married to a Japanese, you will probably need to show a fairly long-term stable income.

 

[orochi]

I have heard that UFJ Mitsubishi and Shinsei are a bit more forward-thinking with their loans and have given loans to those without PR.

As Glenski alluded to, having a non-contractual position (i.e. being a seishain at a company or being a tenured teacher) helps tremendously. Being able to put down a hefty down payment might help as well.

 

[Mikawa Ossan]

Thank you very much for your replies! I am now saving up for the downpayment. Hopefully if I ask around enough, I'll find a place that will accept my application without too bad of conditions!

 

[Glenski]

You don't even need the non-contractual position. My friends didn't have them.

Misawa, I've forgotten your situation here. Married to Japanese? How long have you been in Japan working? What has your work history been like? Any arrests?

 

[Kyledesu]

I bought a place in tokyo and my primary residence is in the US. It helped to put a lot of money down..

 

[JerseyBoy]

I bought a place in tokyo and my primary residence is in the US. It helped to put a lot of money down..

Which would you think be harder to get a mortgage, in Japan or in USA? Please discount the last few years of easy subprime lending boom in the States from the equation as that would skew the opinion.

 

[Kyledesu]

Which would you think be harder to get a mortgage, in Japan and in USA? Please discount the last few years of easy subprime lending boom in the States from the equation as that would skew the opinion.

Right now probably the US..