Borrowers with outstanding payment records and loans from other financial institutions can refinance these loans and reduce current interest costs at the Government Housing Bank
Credit limits
- Not more than 90% of appraisal value - good payment record - 24 consecutive months of payments
- Not more than 85% of appraisal value - good payment record - 12 consecutive months
- Borrowers can borrow no more than 40 times monthly salary and 15 times other income. Self-employed can borrow no more than 40 times monthly income.
Additional Conditions
- Borrower must not have more than two consecutive months of overdue payments with previous financial institution during past year
- Types of Loan available - retail loans including Non-deposit Welfare Loans and Rental Flat (apartment) loans but excluding Fixed Rate Loans, Sin K-Ha Loans, Deposit Welfare Loans and Government Welfare Loans
- Refinancing empty land with construction loan application - construction must be underway with foundation completed or 15-20% of construction completed. In cases where borrower seeks additional building expansion or renovation loans, refinancing can be done from a single loan account
- Where funds drawn down and borrower is overdue for more than 3 consecutive payments, Bank will terminate this program's benefits and adjust interest rate applicable to those charged to normal customers and borrower will not be eligible for these special rates in the future even if overdue payment has been paid.
Loan Term
- Maximum Term 30 years
- Borrowers age plus loan term must not exceed 70 years
Documents Required
- Loan Application
- Documents
- In the case of co-borrowers, each must submit own applications and all required personal and financial documents
Expenses
- Expenses at GHB
- Loan of less than Bt500,000 - collateral appraisal fee of Bt1,700 per location
- Loan of Bt500,001 - 3,000,000 - collateral appraisal fee of Bt2,200 per location
- Loan of more than Bt3,000,000 - collateral appraisal fee of Bt2,500 per location
- Expenses to check housing construction,expansion or repairing - Bt600 per time
- Costs for lien registration and legal transaction
- Bt500/ person at Land Office (Bangkok) or
- Bt600/ person at Land Office (surrounding areas) (or more at the bank's consideration) Payable on transaction date
- Expenses payable at Land Office - payable on lien registration date
- lien registration - 1% of amount borrowed
- Expenses payable at Land Office - payable on lien registration date
- lien registration - 1% of amount borrowed
