Mortgages in Vietnam
As of December 2016, mortgage loans cannot be issued to foreign residents in Vietnam.
"Vietnamese banks only provide mortgage loans to foreign citizens holding residence cards (which are issued for no more than three years at a time) and those married to a Vietnamese spouse. Even when this is the case, the mortgage is granted only for the residence
Victoria Hoang, Sales and Leasing Manager at Indochina Capital, another
Maximum LTV ratio | 70% |
Fixed rates | |
Variable rates | |
Loan term | Up |
Minimum age of borrower | 18 |
Maximum age of borrowerby the end of the loan term | 65 |
Minimum income | 10 million VND * |
* 1 VND = 0.000044 USD (as of spring 2017)
Documents
Nationals and residents married to Vietnamese nationals submit the following documents to Vietnamese banks when applying for a mortgage:
- mortgage application;
- identity card;
- marriage certificate;
- proof of income;
- sales contract.
Extra costs
Property assessment | From 1,890,000 VND |
Compulsory propertyinsurance against fire | Amounts vary,minimum indemnity period:three years |
Mortgage arrangement andregistration fees | Amounts depend on the location |
Early repayment penalty(the first three years only) |
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