Thailand Mortgage Rates 2026: Complete Guide for Expats

Purchasing property in Thailand as an expat has become increasingly accessible in 2026. This comprehensive guide covers everything you need to know about Thai mortgage rates, requirements, and the application process for foreign buyers.

Current Mortgage Rates in Thailand (2026)

As of February 2026, Thai banks are offering competitive mortgage rates for both locals and qualifying expats:

Fixed-Rate Mortgages

• 2-Year Fixed: 3.25% - 3.75%
• 3-Year Fixed: 3.50% - 4.00%
• 5-Year Fixed: 3.75% - 4.25%

Variable-Rate Mortgages

• Base Rate + 2.00%: Typically 4.50% - 5.50%
• MRR (Minimum Retail Rate): Usually lower for first 3 years

Expat-Specific Rates

Foreign buyers typically pay 0.5% - 1.0% higher than Thai nationals, with rates ranging from 4.5% to 6.0% depending on down payment and employment status.

Eligibility Requirements for Expats

Basic Qualifications

To qualify for a Thai mortgage as an expat, you must meet these criteria:

Age Requirements

• Minimum age: 20 years old
• Maximum age at loan maturity: 65-70 years (varies by bank)

Employment Status

• Working in Thailand with valid work permit
• Minimum 6-12 months employment history
• Stable income verification

Income Requirements

• Minimum monthly income: ฿100,000 - ฿150,000 ($2,800 - $4,200 USD)
• Debt-to-income ratio: Below 40-50%

Required Documentation

Banks typically request:

1. Valid passport with valid visa
2. Work permit and employment contract
3. Last 6 months of bank statements
4. Last 3 months of payslips
5. Tax returns (if applicable)
6. Proof of residence in Thailand
7. Credit report from home country

Property Types Available to Foreigners

Condominiums

Foreigners can own condominiums in their name (freehold), with the building's foreign ownership quota limited to 49%. This is the most straightforward property type for expats.

Houses and Land

Foreigners generally cannot own land in Thailand. Options include:

• 30-Year Lease: Renewable lease agreements
• Thai Company Structure: Form a Thai company (complex legal considerations)
• Thai Spouse: Property ownership through Thai spouse (prenuptial advisable)

Loan-to-Value Ratios

Thai banks typically offer:

Condominiums (Freehold)

• Thai nationals: Up to 90% LTV
• Foreigners: 70% - 80% LTV

Leasehold Properties

• Maximum 50% - 60% LTV
• Stricter terms due to leasehold nature

Top Banks Offering Expat Mortgages

Bangkok Bank

• Competitive rates for expats
• English-speaking staff
• Good online banking
• LTV up to 80% for condos

Kasikorn Bank (K-Bank)

• Specialized expat mortgage division
• Multiple branch locations
• Flexible terms
• Good customer service

Siam Commercial Bank (SCB)

• Established expat lending program
• Competitive interest rates
• Well-regarded in expat community

CIMB Thai

• Malaysian-backed bank
• Experience with foreign clients
• Competitive rates

Step-by-Step Mortgage Application Process

Step 1: Property Search (1-4 weeks)

• Work with reputable real estate agent
• Visit multiple properties
• Verify foreign ownership quota (condos)
• Check property title deed

Step 2: Reservation (1-2 days)

• Pay reservation fee (usually ฿50,000 - ฿100,000)
• Sign reservation agreement
• Typically held 7-30 days

Step 3: Mortgage Pre-Approval (1-2 weeks)

• Submit documents to bank
• Property valuation conducted
• Preliminary approval issued

Step 4: Contract Signing (1 day)

• Sign sale and purchase agreement
• Pay deposit (typically 10-20%)
• Transfer additional funds as per contract

Step 5: Final Approval (2-4 weeks)

• Bank completes due diligence
• Final loan approval issued
• Lock in interest rate

Step 6: Transfer at Land Office (1 day)

• Both parties attend land office
• Pay transfer fees and taxes
• Receive ownership documents

Costs Beyond the Purchase Price

Transfer Fees

• Land Office transfer fee: 2% of registered value
• Usually split between buyer and seller

Stamp Duty

• 0.5% of registered value
• Alternative to specific business tax

Withholding Tax

• Typically paid by seller
• Can be negotiated

Mortgage Registration

• 1% of loan amount registered at Land Office

Legal Fees

• ฿30,000 - ฿50,000 for property lawyer
• Essential for due diligence

Bank Fees

• Application fee: ฿5,000 - ฿10,000
• Valuation fee: ฿5,000 - ฿15,000
• Processing fees: varies by bank

Interest Rate Negotiation Tips

1. Shop Multiple Banks: Rates and terms vary significantly
2. Larger Down Payment: 30%+ down payment improves rates
3. Use Mortgage Broker: They know current best offers
4. Timing Matters: Banks have quarterly targets
5. Bundle Services: Use same bank for deposits/investments

Tax Implications for Expats

Rental Income

If renting out property:

• Taxable in Thailand if income sourced in Thailand
• Progressive tax rates apply
• Consider Thai company structure for tax efficiency

Capital Gains

• Calculated based on appraised value increase
• Can be significant after several years
• Consult Thai tax advisor

Home Country Taxes

• May need to report foreign property ownership
• Double taxation treaties apply
• Consult tax professional in home country

Refinancing Opportunities

With proper planning, expats can refinance Thai mortgages after 1-2 years to secure better rates. Requirements:

• Good payment history
• Increased property value
• Improved income/credit profile

Common Pitfalls to Avoid

1. Not Checking Foreign Quota: Condos have 49% foreign ownership limit
2. Skipping Legal Review: Always hire property lawyer
3. Hidden Fees: Account for all taxes and fees (add 5-7% to price)
4. Currency Risk: Consider if earning in different currency
5. Visa Dependency: Ensure long-term visa stability

2026 Market Outlook

The Thai property market in 2026 shows:

• Stable Prices: Bangkok condo prices stabilizing after 2023-2024 corrections
• Interest Rate Environment: Rates expected to remain moderate
• Increased Supply: Many new developments, good buyer negotiation power
• Post-Pandemic Recovery: Tourist areas recovering, affecting certain markets

Using Mortgage Calculators for Thai Property

When planning your Thai property purchase, use mortgage calculators to:

• Model different down payment scenarios
• Compare fixed vs variable rates
• Calculate total interest over loan term
• Plan for currency exchange variations

Calculate your potential Thai mortgage payment using our free mortgage calculator.

Conclusion

Securing a mortgage in Thailand as an expat in 2026 is increasingly streamlined, with competitive rates and clear processes. Success requires:

• Thorough documentation preparation
• Understanding of Thai property laws
• Comparison shopping among banks
• Professional legal and financial guidance

Start your Thai property journey informed and prepared. Use our mortgage calculator to model different scenarios and find the right financing for your dream Thai home.