I'm curious if anyone has managed to secure a home loan in Japan while primarily earning passive income from Japanese real estate investments. Earlier today, I spoke with both SMBC Prestia and Shinsei Bank, and unfortunately, they told me that income from real estate investments isn’t considered when applying for a mortgage.
Despite earning more than 5 million yen per year net passive income from real estate, only the income from my sole proprietorship as an online English teacher (which is much lower) can be considered as business income for mortgage approval. Shinsei mentioned that for this to count, the business income must exceed 3 million yen per year.
Has anyone faced a similar situation and found a bank willing to consider passive income from property? Would love to hear your experiences!
by Southern-Reindeer532