Mortgage in Thailand for foreigners: bank conditions, developer financing and alternatives

Most foreigners who buy in Thailand pay in cash or in instalments to the developer. A bank mortgage exists, but it is narrow, and almost everything published about it comes from brokers and law firms rather than from the banks. This article sets out what is reported, where sources disagree and which alternatives are more common. It is general information, not financial or legal advice. Bank terms change often, so get any figure in writing from the lender.

Why a Thai mortgage is hard for a foreigner

The only mainstream freehold route for a foreigner is a condominium unit inside the 49% quota, see Thailand condo foreign quota explained. Land and houses are not an option for freehold, see land in Thailand for foreigners. Because lenders finance what the borrower can legally own, bank loans for foreigners are generally tied to freehold condos, not to houses, land or leases.

Reported conditions, from broker and law-firm guides:

• Long-term residents are preferred: a valid work permit, permanent residence or a Thai spouse. Tourist or short-term visas are generally not eligible.
• A law-firm guide from 2026 says it has seen no published bank policy that accepts a retirement extension, a DTV or a Privilege visa as the basis for a home loan. Holders of the long-term resident visa with Thai income may do better, case by case. See Thailand visas for property buyers.
• A large down payment. Foreigners are usually reported to get about 50% to 70% of the lender's own valuation, so a deposit of 30% to 50% is normal.
• Interest is reported at roughly 5% to 8% over 15 to 30 years. Treat this as an order of magnitude, not an offer.
• Age limits are typically 21 to 65 at the end of the loan, sometimes lower.

Which banks, and why we do not give a list

Broker guides mention UOB Thailand and ICBC (Thai) most often, and a specialist lender, MBK Guarantee, whose published terms are reported as a minimum loan of THB 1 million and financing up to 50% of valuation. We could not open any of their official pages, and the reports conflict:

• For one bank the minimum property value is reported as THB 2 million in one source and THB 3 million in another, and the income thresholds quoted come from older pages.
• For ICBC (Thai), one broker says its foreigner loan is available only to Hong Kong citizens who work in Thailand, another says it serves buyers from China, Hong Kong and Macau, and a 2026 guide says only specific nationalities.
• Several pages are undated or from 2023 to 2025, and one comparison notes that a bank cancelled temporary criteria.

So treat any list as a starting point. Ask each lender for written eligibility for your nationality, residence, visa and the specific building.

The Bank of Thailand's loan-to-value easing: not for you, mostly

In 2025 the central bank relaxed its loan-to-value limits so that lenders may finance up to 100% of the value for some housing loans: from the second housing loan for homes below THB 10 million and from the first above that, for agreements signed from 1 May 2025 to 30 June 2026. An extension to 30 June 2027 was reported as proposed, with a public hearing from 7 May to 5 June 2026, and one source says it was announced in April 2026. We could not reconcile the two and did not find the central bank's own release: check bot.or.th. In practice the easing is aimed at Thai buyers. Lenders that accept foreigners still cap well below 100%.

The FET form and the foreign money you must bring

For a condominium bought in a foreigner's name, the Land Office expects proof that the purchase money came in from abroad in foreign currency. This is the FET form, formerly Tor Tor 3. Sources agree on the main points:

• Banks issue it for inward transfers of USD 50,000 or more. Below that you get a bank confirmation letter or credit advice.
• Baht sent from abroad does not count. The money has to arrive as foreign currency.
• The beneficiary must be the buyer named in the sale and purchase agreement, and the stated purpose should match.
• Keep the original: it is used at registration, for a later resale and for sending the money out.

What we did not find is how the requirement works when part of the price is a baht loan from a Thai bank. Ask the lender and your lawyer before you rely on a loan. See Thailand condo foreign quota explained and sending money abroad for a property purchase from Poland.

Developer instalments: the usual route for off-plan

For new projects, financing normally means the developer's payment schedule, not a bank. The examples we saw on one listing portal follow construction stages:

• A small reservation, then 30% to 35% at signing the sale and purchase agreement, then payments at foundation, structure and roof stages, and 10% to 40% at handover.
• One plan for a condotel with a rental programme asked for 50% up front and then 7% every six months, which is not typical of a standard condo.
• Buyers are often asked to prepay one to three years of common-area fees at transfer.

We found nothing reliable on interest, balloon payments or in-house developer loans, so ask the developer for the full schedule and the consequences of a late instalment. Read buying off-plan in Thailand: developer checks and payments before you sign.

Financing from home

For many buyers the practical route is a loan in their own country: a mortgage secured on a property they already own, or a personal loan, then transferred to Thailand as foreign currency so the FET is issued. This usually gives cheaper credit than a foreigner loan in Thailand, and the lender is one you already know. See a loan in your own country against property abroad, mortgages for non-residents and, for the payment side, currency and payment for overseas buyers and multi-currency accounts and exchange rates.

Risks to weigh

• Currency mismatch. You may earn in euro or zloty, owe in baht or hold a loan in another currency. A weaker home currency raises the cost of every instalment.
• Early repayment. Ask about penalties and about what happens if you sell before the loan ends.
• The wrong asset. A lease or a company structure is not a condo in your name, and a bank may not lend against it. See land in Thailand for foreigners.
• Nominee shortcuts. Putting a Thai name on a purchase to get round the rules is treated as unlawful by the sources we read and is the quickest way to lose the property. See the due diligence and scam checklist.

A decision list

• You hold a long-term Thai work permit or permanent residence and Thai income: ask UOB, ICBC or another bank for a written indication.
• You live in the EU and own property at home: compare a loan at home first.
• You are buying off-plan: compare the developer's schedule with your cash flow and the currency.
• You only have a tourist or short stay: plan on cash or financing at home.

FAQ

Can a tourist get a mortgage in Thailand? Reports say generally not. Banks prefer long-term residents with a work permit, permanent residence or a Thai spouse.

Is 100% financing available to foreigners? The central bank's easing allows lenders to go to 100% for some loans, but lenders that accept foreigners are reported to cap at about half to 70% of their valuation.

Do I need the FET form if I borrow? You need proof of foreign money for the part you pay yourself. How the form works with a baht bank loan we could not confirm, so ask the lender and a Thai lawyer.

What this means for a normal buyer

• Assume you will pay most of the price yourself, in foreign currency, and plan the FET from the first transfer.
• Treat bank lists and rates as leads. Get eligibility and terms in writing.
• For off-plan, the developer's schedule is your real financing. Test it against late-payment consequences.
• A loan at home is often simpler than a foreigner loan in Thailand, but mind the currency.
• Never use a Thai nominee to make a purchase fit the rules.

D.H. Realting works from Warsaw as an independent consultant and can help you compare financing routes and bring in a Thai lawyer you choose; ask us how we are paid, as you would ask anyone.