How to get a home loan for foreigners in Thailand ?
Getting a home loan for foreigners in Thailand is technically possible, under conditions. Foreigners can possibly get a loan to purchase real estate in Thailand, whether it is for residential purpose or investment, you can expect to get financing options from a few banks only, or directly from the vendor in some cases. Essentially, with the banks, the property must be in foreign freehold terms with a title deed (“chanote“) available hence no off-plan properties, vendor financing is upon vendors, often more flexible. Let’s have a look at the housing loan options in Thailand and conditions that apply to foreigners will to buy and finance a property.
Home loan for foreigners in Thailand with banks
Only 1 Bank in Thailand can offer home loans to foreigners :
Conditions for foreigners to finance a condominium in Thailand from a bank
- The applicant must be between 21 and 65 years old.
- Minimum income of approx. 100,000 SGD per year or equivalent.
- Variable interest rate based on Singapore 3M Compounded Sora. Fixed interest rate available for the first 3 years of the loan.
- Freehold condominium with minimum value THB 3 Million.
- Financing only in selected areas: Bangkok and few upcountry locations
- Capped to a maximum of 70% Loan to Value when having a work permit in Thailand. Capped to a maximum of 60% Loan to Value without work permit in Thailand.
- Minimum Loan amount of THB 2 Million.
- 30 years loan tenor maximum.
- 3 years loan tenor minimum.
- Preferentially stable income and good credit.
- Loan available in SGD and HKD. (Loan in foreign currency required to receive the FET for ownership transfer)
- Interest rate around 7% (minimum interest is 3M Compounded SORA + 2.80% / maximum interest is 7.60%).
- Limited to applicant’s residence country having UOB Bank presence: Australia, Brunei, Canada, France, Hong Kong, Macau, India, Indonesia, Japan, Malaysia Myanmar, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam, UK and USA.
Bank home Loans in Thailand.
Foreigners non-resident in Thailand are eligible to apply for a bank loan to purchase a freehold condominium in Thailand at UOB or ICBC. Here below are the main conditions and values for each bank:
| Update May 2024 | UOB Bank Thailand |
| Eligible Applicant: | Non-residents (Limited per country list) |
| Age: | 21-65 years old |
| Property Type: | Freehold condominium |
| Property Value: | Min. 2,000,000 THB |
| Max Loan To Value: | Max. 70% |
| Minimum Loan Amount: | Min. 2,000,000 THB |
| Loan Tenure: | 3-30 years |
| Interest Rate: | Min. 3M Compound SORA + 2.80% Max. 3M Compound SORA + 3.90% |
| Currency: | SGD |
UOB BANK HOME LOAN APPLICATION
- With a loan in SGD currency, 3 different mortgage interest rates are offered. The mortgage interest rate will vary according to the minimum loan amount. The interest rate offered will vary per package, according to the minimum loan amount: 2,000,000 THB, 5,000,000 THB & 7,000,000 THB. Fixed interest rate & variable interest rates are available.
Get a loan directly from the vendor – vendor financing
Foreigners non-resident in Thailand, in some cases, can apply to a loan directly from the vendor, it is possible to get vendor financing with a few developers only. The Conditions for one to obtain are usually more flexible than a with a bank, virtually possible to get a finance for an off-plan property at a fixed interest rate. However, the loan amount in with a vendor financing is usually capped to 50% of the property price and limited to a short period of time. The transfer of ownership to the buyer occurs only when the property and loan interests are paid back in full.
Conditions for foreigners to get vendor financing in Thailand
- The applicant must be between 21 and 65 years old.
- Minimum income of approx. 100,000 THB per year.
- fixed interest rates from 4 to 8%
- Freehold and leasehold condominium units from the developer
- from the developer’s real estate development only
- Loan capped to a max 40% unit Value if outside of Thailand.
- Max 15 years for foreigners out of Thailand
FAQ on home loan for foreigners in Thailand
Keller Henson Team
Thailand Real Estate Market AnalystsExpert real estate specialists in Thailand, the Keller Henson team offers comprehensive guidance for foreigners buying property. They combine local market knowledge with legal expertise to ensure a secure and efficient investment experience.