nagoholic wrote:
> The wifey and I will be going to the bank tomorrow, to do the
> paperwork for  the loan for our new home. Anybody out there have
> experience with this?

Congratulations. I should have bought a house in Japan two years ago,
when rates were maybe 1.7%, and there were good homes on the market for
amazingly low prices.

> What is a decent rate for a mortgage in the wise opinion of this group?
>
> thanks.

http://www.goodloan.co.jp/

Try hard as hell to get a fixed rate, not one of those variable rates
so you don't get screwed by a rising interest rate (quite likely in the
future) and thus loan payments, in a few years. My bank tried to claim
there is no such thing, while showing me one and three year variable
interest loans.

Use any free mortgage calculator available online to see just how much
difference changes would make. Going back to a place where rates are at
least six percent and AVERAGE old or new home prices for houses similar
in size and quality to Japanese houses are over $660,000 ($300,000 to
build on your own land, with over a two year wait) rising even 40% in a
single year make me feel ill.