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borrowing from a bank to buy a house
can anybody tell me what the deal is for a local to borrow money from a bank to buy a house ......... how much deposit is required and what is the annual interest rate charged and length of repayment
depends on wich bank he/she would go....
don't read between the lines..i think the words are clear enough...:)
Not sure you can get such a loan as a expat?
Regards Jimbo
if you already have the house (paid for in full) one could mortgage (take a loan) the house as an expat. Ofcourse you contracts need to be in order to do so.
but O.P. asked for a local
don't read between the lines..i think the words are clear enough...:)
I thought that was the idea of the tiny BTN houses, where the bank lends you money to buy the house. Typically the houses are built on 1-2 are of land with low quality of construction. I believe also the length of the loans given are relatively short and not like the 25 or 30 years you can get in western countries.
Give a man a fish and he will eat for a day. Teach a man to fish and he will sit in a boat drinking beer all day.
oooowww, is that what the O.P. meant...
I was already confused with the 'deposit' in that post
don't read between the lines..i think the words are clear enough...:)
I suppose I am relating to the experience in Australia, where one say wants to buy a house for $100,000 and the bank requires a deposit of say 10%. The borrower therefore must supply $10,000 of his own money and the bank lends him $90,000 at say 7% reducible interest over 25 years. Payments are calculated at that rate.Originally Posted by gilbert de jong
oooowww, is that what the O.P. meant...
I was already confused with the 'deposit' in that post
Does a similar situation exist for an Indonesian citizen and what are the interest rates, deposit required etc.
Local buying a house
Must have NPWP, Commonwealth requires 20 - 40% deposit depending what you are buying i.e. house or townhouse, apartment etc. Loans are I think rather short maybe 10 years.
Just go to a bank and enquire that is what we did.
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