My sister and I bought apartments near Dayuan. She lives in one and rents one. I rent both of mine and stay in Taipei for convenience. For me two apartments is 18,000 mortgage a month, rent is 33,000 a month. She ends up paying about 5000 a month since she’s living in one. All 30 years.
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I know banks are really picky about which houses they allow buyers to get mortgages on, does anyone know if they are hesitant to give mortgages on super cheap run down properties in places like Keelung? You can get a decently sized place there in a good location that needs a lot of work for like 1.5 mill, so would only need a 450,000 downpayment considering 30%
It typically depends on your monthly/yearly income
I spoke with a bank recently. At that price the answer was no. It was cash or take a personal loan. YMMV
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You might need to up your down payment.
What about getting mortgage when working aboard. My spouse has good income in Germany and still has hukou in Taiwan. Would bank want local guarantor?
Spouse is totally clueless and she is not at help at all. Has anyone experience with credit/mortgage agencies? Is this a thing in Taiwan
Not likely to be approved. They definitely are skittish and want to see you have roots in Taiwan. If they even get a whiff that you are going to leave or live in a place they can’t chase you, they will close the doors shut. Like, my ability to speak Chinese was literally a factor in their perception of my risk.
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Thanks for sharing
feels like group therapy 
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Thank you very much. We made lots of progress today.
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What kind of interest rates do banks offer for personal loans here? I’m guessing much much higher than mortgage rates?
whats the catch with the house?
Tons of decent houses in Keelung in the 1.5 to 2 mill range. The catch is nobody wants to live in Keelung
You have to be careful. Some don’t come with land as they’re on government land.
I always have to resist calling it crown land.
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Secured can be around 4% from what I was told. YMMV I didn’t ask about unsecured.
The terms were also very short. No more than 60 months and most were 48 or 36 months.
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I just talked to a bank about a mortgage, and this was my understanding. The gov’t has a base rate that every bank must conform too. So for example, in your case, when you got a 1.6 rate, and the gov’t rate was 1.07, your bank was actually charging you .53% (1.6-1.07=.53).
So when the gov’t does their quarterly review, and they adjusted the rate from 1.07 to 1.10, your rate should now be 1.10+.53= 1.63.
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Interesting, should check that out!
Bank offered me 1.74%
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Not bad! No guarantor?
Taiwanese wife as guarantor. I’m British
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