Geogrf Posted November 29, 2019 Share Posted November 29, 2019 My Thai wife and I are wanting to finance new home construction with selected developer in Thailand (chanote, freehold). Developer wants incremental payments until finished. We want a mortgage in the end. Both of us have good careers in U.S. and credit, but some Thai banks require that she works in Thailand. Is there a bank we can work with to get our financing? Suggestions? We can`t be the first! Link to comment Share on other sites More sharing options...
Crossy Posted November 29, 2019 Share Posted November 29, 2019 Without a local income you're going to struggle I'm afraid. We both work in Thailand (Wifey is my PA) and got a Construction Loan from SCB which was converted to a mortgage when the house was completed. Actually, it took so long for them the approve the construction loan that they only actually paid out literally a month before the house was finished (I'd paid of course). SCB certainly used to be one of the more flexible banks, it can't hurt to talk to everyone. Link to comment Share on other sites More sharing options...
khunPer Posted December 4, 2019 Share Posted December 4, 2019 On 11/29/2019 at 10:23 AM, Geogrf said: Is there a bank we can work with to get our financing? Suggestions? We can`t be the first! My next door neighbor, a British couple, build with loan and mortgage. The farang-management construction firm had an offer from an Australian mortgage company, I think they covered up to 50 percent of the actual costs. I however never asked about any details, in our farang-way-of-thinking it would be impolite. You might check if any construction companies have any service of that kind. Link to comment Share on other sites More sharing options...
ThomasThBKK Posted December 4, 2019 Share Posted December 4, 2019 4 hours ago, khunPer said: My next door neighbor, a British couple, build with loan and mortgage. The farang-management construction firm had an offer from an Australian mortgage company, I think they covered up to 50 percent of the actual costs. I however never asked about any details, in our farang-way-of-thinking it would be impolite. You might check if any construction companies have any service of that kind. Called seller financing, example: https://web.archive.org/web/20180130161851/http://www.theplacencia.com:80/real-estate/financing-your-purchase Often big downpayment, 5-10 year amortization and then a balloon payment at the end. Op, if you have property in the US, you can get a home equity line of credit (HELOC) from your US bank, borrowing against the US property, they often pay out around 75% of appraisal value on not too bad terms. Another option is to use a self-directed IRA. You can basically use your IRA to buy overseas property, but the rules around that are complicated and i don't know the details. The last option would be to get a personal loan in the US, an unsecured loan, if you have excellent creditscore you can get around 100k USD max afaik. Link to comment Share on other sites More sharing options...
RAZZELL Posted December 6, 2019 Share Posted December 6, 2019 Maybe try UOB - wife got a mortgage partly based on foreign earnings when we lived in the UK - but also had her sister on the book. (This was for an already built house - by Property Perfect - I think they had a deal with the Bank) RAZZ Link to comment Share on other sites More sharing options...
chrisandsu Posted December 7, 2019 Share Posted December 7, 2019 Just start putting money into a Thai bank and keep recycling it . Builders will give anyone a loan ! they don’t need to know you have a job just that your bank statements says you have money coming into the account . Link to comment Share on other sites More sharing options...
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