Home Loan without PR

Mikawa Ossan

いかんわ！

Ten-year veteran Fifteen-year veteran Twenty-year veteran

17 Sep 2005

6,017

1,970

• 17 Aug 2008

• #1

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

Just me

Twenty-year veteran

20 Aug 2003

4,910

416

• 17 Aug 2008

• #2

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

便利屋

1 May 2004

692

25

• 17 Aug 2008

• #3

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

いかんわ！

Ten-year veteran Fifteen-year veteran Twenty-year veteran

17 Sep 2005

6,017

1,970

• 17 Aug 2008

• Thread starter
• #4

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

Just me

Twenty-year veteran

20 Aug 2003

4,910

416

• 17 Aug 2008

• #5

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?

 

K

Kyledesu

後輩

1 Jul 2006

12

0

• 17 Aug 2008

• #6

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

 

JerseyBoy

Back in town

31 Dec 2005

537

9

• 17 Aug 2008

• #7

Kyledesu said:

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

Click to expand...

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.

 

Last edited: 18 Aug 2008

K

Kyledesu

後輩

1 Jul 2006

12

0

• 18 Aug 2008

• #8

JerseyBoy said:

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.

Click to expand...

Right now probably the US..