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Flat 35 & 50 Mortgage Rates Lowered

According to Suumo, for the first time in two months, the Japan Housing Finance Agency (JHFA) has announced lower official January rates for its Flat 35 and Flat 50 home mortgage loans. Click here for the Suumo article (in Japanese): http://suumo.jp/journal/2016/01/05/103756/ The Flat 35 are fixed interest loans with terms of 35 years, which are offered by Japanese banks and securitized by the JHFA. Further to the Flat 35, the Flat 50 loans are for a loan term of between 36 and 50 years. See table below for summary.

90% or less financing % Change MoM Industry Average Above 90% financing % Change MoM Industry Average
Flat 35 1.540-2.090 -0.01 1.540 1.670-2.220 0.01 1.670
Flat 50 2.010-2.510 -0.05 2.260 2.140-2.640 -0.050 2.390
20 years and below 1.270-1.890 -0.05 1.270 1.270-1.400 -0.05 1.400
Source: January 5, 2016 announcement, Suumo News

Foreign residents do qualify for mortgages in Japan, provided certain criterias are met. Please come talk to Higherground’s property consultants if you are interested in purchasing a home in Japan with financing.

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