–{Suumo Watchers, please do not dox me}
Property Highlights
10 minutes from 2 stations
45 minutes from Shinjuku door-to-door
300+m2 Plot, 4LDK w/ annex
Annex is setup as 1LDK an could be used for a rental.
Issues
No parking – (I do not care about this)
Flag Plot. Cannot be rebuilt without special permission due to narrow entry.
(Permission was received, and house was rebuilt 10 years ago).
Mortgage issues
Pre-screening approved X2 Full Screen denied.x2 {MUFJ/SBI Neo}
Denied 2x times with a standard mortgage contact. Then, our agent rewrote the contract slightly highlighting that permission to rebuild was received in the past. Then told the bank beforehand it was a special property.
Mortgage attempt #2 with new contract
SMBC – 90% of asking. 50/50, half fixed for 10 years at 2%, half variable at .475.
Mizuho – 100% of , variable at .375%
SBI Shinsei – Way to slow……
…..
Good old-fashioned Mizuho coming in clutch. Who would have thought?
by Choice_Vegetable557
13 comments
I have PR and income equal to exactly the average Tokyo salary, but I am not full-time. My wife earns more, and has stable employment. So we went through my wife alone, as we could use a single income.
She now has 6 bank accounts after all the applications…
I will not be on the deed, but I plan to pay half the mortgage. Any input on this approach?
What was the price for such property ?
Have you tried with Sony bank?
US 30 year fixed mortage rates 6.5% these days (yes they will go down as the Fed makes money cheaper) so less than .5% even if variable is crazy amazing.
The only thing important to me is, you are PR’d
is Wife japanese?
300 sqm with no parking? How? Also be aware that the fixed asset tax deductions usually cut off at 250 sqm
No parking is mad. 45 minutes from Shinjuku could literally be anywhere in Kanto.
Interesting. It will be hard to sell but if you found a place you like and want to make your forever home then who cares.
Maybe at some point you’ll have the chance to buy the land to widen the driveway and make it rebuildable.
Congratulations and welcome to the club!🤠
Your interest rate is 0.375%? Not 3.75%?
>annex is setup as 1LDK and could be used for a rental
Make sure to check the conditions of your loan for that.
Unless you’re meaning to use that annex as a rental after you’ve paid off all the loan?
Edit: oh yea, congrats on the house too 🍻
Jesus that’s really high for your location.
Why didn’t you try all the local banks? Much more likely to get favorable terms.
Congrats on the new home !