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Looking to buy a home in Japan?
Talk to Banner, we can
help!
Permanent visa status not required. Competitive loan
rates
Domestic Japanese Yen Mortgages
All Japanese and Foreign residents welcome
- all will be processed on their ability to service the mortgage and not the
status of ones visa.
For
more information and to start your loan application process click here
An example
Purchase Price: 60 million yen
Annual Salary: 10 million yen
•Below table is for indication purpose only.
•Actual interest rates are calculated based on LTC and DTI.
| LTC |
Floating |
Initial 3 yrs fixed |
Initial 5 yrs fixed |
Initial 10 yrs fixed |
35 yrs fixed |
| 90% |
3.43 |
3.14 |
3.23 |
3.48 |
4.02 |
| 85% |
3.08 |
2.79 |
2.88 |
3.13 |
3.67 |
| 80% |
2.78 |
2.54 |
2.63 |
2.88 |
3.37 |
| 75% |
2.78 |
2.49 |
2.58 |
2.83 |
3.37 |
| 70% |
2.73 |
2.44 |
2.53 |
2.78 |
3.32 |
Above interest rates are as of November 2007 with 60 million yen purchase
and 10 million yen income. Please contact a Banner Sales Representative for
actual interest rates at the time of Pre-Approval.
Repayment Methods
Fixed Principal, Declining Monthly Total or Fixed Monthly Total
Guarantor Fee/Guarantor None
Processing Fee; Up to 2.00% of the Loan Amount
Pre-Payment Fees
* Partial Pre-Payment : No Fee
* Full Pre-Payment : 3.15% within the first 24months
1.575% 25th month to 60th month. (No Fee if five or more years have passed)
Floating Interest Rate Review Period
Reviewed every April 1 and October 1 and applied from a day following the
repayment
date of that month.
First Payment; If disbursement date falls between 1st and 25th of the
month, first payment will be deducted from the account on the 26th of the
following month. If between 26th and the last day of the month, will be on
the 26th of a month after the following month
Notes
- These interest rates are for reference purposes only.
Interest rates are determined based on our company's property valuation
and customer requirements.
- Please confirm the borrowing terms and applied
interest rate at the time of contract.
- The effective interest rate which includes the
Processing Fee is 2.14% - 3.90%.
- These interest rates apply to primary residence loans
(up to ¥100 million) for Non-Self Employed applicants.
Questions?
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How much of a down payment do I need?
Usually you need to have 15% or 20% as a
down payment.
» Lenders normally require a down payment because they wish to
reduce their risk exposure and thus usually don’t lend 100% of the
value of the property. However, if you think about it, a down
payment of 15% or 20% of the value of the property means that not
only do you immediately own 15% or 20% equity in your home, you are
also demonstrating financial discipline.
I don’t have much savings. Can I still qualify for a mortgage?
» Yes. Some Lenders offer mortgage packages for people who don’t
have the down payment in cash. As you’d expect, there are certain
conditions involved with these special mortgage packages, so it’s
always a good idea to investigate the details.For
more information and to start your loan application process click here
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