Path: ccsf.homeunix.org!CALA-MUZIK!newsfeed.media.kyoto-u.ac.jp!nntp.gol.com!203.216.70.8.MISMATCH!not-for-mail From: "Ryan Ginstrom" Newsgroups: fj.life.in-japan Subject: Re: mortgage rates? Date: Wed, 1 Jun 2005 08:52:44 +0900 Organization: FusionGOL - Global Online Japan Lines: 36 Sender: ryang@gol.com Message-ID: References: <1117579303.285528.217990@g44g2000cwa.googlegroups.com> NNTP-Posting-Host: yrmfa-01p2-82.ppp11.odn.ad.jp Mime-Version: 1.0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit X-Trace: nnrp.gol.com 1117583550 27869 61.116.186.82 (31 May 2005 23:52:30 GMT) X-Complaints-To: abuse@gol.com NNTP-Posting-Date: Tue, 31 May 2005 23:52:30 +0000 (UTC) X-Priority: 3 X-MSMail-Priority: Normal X-Newsreader: Microsoft Outlook Express 6.00.2800.1437 X-MimeOLE: Produced By Microsoft MimeOLE V6.00.2800.1441 Xref: ccsf.homeunix.org fj.life.in-japan:27612 > 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? We got ours for the 1.9% range. Fixed for five years, then variable. The problem with fixed rates in Japan is that they are very expensive. The rate they wanted for a 20-year fixed-rate home loan was higher than Japan's variable rate has been in 30 years. And that's through the real-estate bubble. When we did our loan, they were very helpful about how much the interest was going to cost. They prepared several interest-rate and term scenarios, and showed the various outcomes. Then when we asked about a couple more, they went and plugged them into their computer and printed those out for us as well. I turned out that by taking a 20-year rather than 30-year loan, we could save 3 million yen under reasonable assumptions about interest rates. I know a lot of people recommend stretching out the loan because the interest is so low, but I figure I'm young enough to actually get another home loan after this one is paid off -- for a 20-year loan that is, not 30. "etaka" wrote in message news:1117579303.285528.217990@g44g2000cwa.googlegroups.com... > 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. Does that mean you've bought one now? -- Regards, Ryan Ginstrom ryang@gol.com