A foreign national, unlike Thai companies and Thai nationals, will find it almost impossible to take out a mortgage to purchase real estate (apartments and villas) in Thailand with in any one of the local institutions (bank of finance company).
Major Thai financial institutions provide opportunities for foreign nationals to borrow on the basis that they are retired or the mortgage is for a second house. In both cases the maximum that a foreign national can borrow is 70% of the value of the purchase price or the appraised value. The maximum term of the loan is 10 years.
To borrow funds you will need to have the property under your name. This means that you have to buy it with your own money first and then borrow the funds from the lending institution using the real estate as collateral.
Our company Genesis Rawai Co. Ltd provides our customers a special package to buy any of the residences in Genesis Gold Villa – Our customer’s only need 40% deposit to buy a villa. The length of the loan can range from 12 to 36 months! No additional documents or proof of income is required!
Mortgage interest will range according to the length of the loan:
Loan repayments will be made on a monthly basis which includes both principal and interest. The total fee for registration is 1% of the contract of mortgage financing.