Husband and I (early 30s)are looking to buy a house near Yokosuka.
Husband is SOFA and I have a 5 year working Visa (just applied for my PR by points system)
I know that non residents can buy a house but is it possible for the both of us to get a loan?
What is the percentage of down payment in our case?
We are just starting to look and are actively looking on sites like suumo. Any advice is appreciated.
TIA
by totravelistolove
5 comments
Someone can correct me if I’m wrong but SOFA by its very nature can not get any home loans. This is because your husband is not a tax resident of Japan and have not been filing in Japan – which is required under all loan applications.
The typical scenario here might be for you guys to pool together a big downpayment and apply for a loan by yourself indivdiually.
Hello, I work with a bank that provides loans for SOFA members buying properties in Yokosuka, and the income used to calculate the loan amount is the SOFA member’s income. This is one of the few situations where foreign income counts in a Japanese residential loan application.
The SOFA member must be married to a Japanese citizen or permanent resident to qualify, because the loan will be in the spouse’s name.
Once you get your permanent residency you can apply for this loan based on your husband’s income and housing allowance, if your salary is not sufficient. Although I suspect you would be better off applying for a normal residential loan yourself.
I bought a house seven years ago when I didn’t have my PR yet. You can make a loan from SMBC and you will not be asked for a downpayment for the home but at a higher interest.
You’re married to a couch?
My friends bought a house and husband is American with SOFA status, American wife had Japanese PR and she works only part time. They got a joint loan based on his SOFA income and retirement from military and her residency. So indeed it is possible.