Even being a foreign citizenship holder allows you to qualify for a property loan in Japan. Still, there are some resident status and income requirements, so before applying for a loan, let's check if you are eligible or not.
If you happen to be a permanent resident visa holder or if your spouse is a Japanese citizen, loan screening won't differ much from one of an application form submitted by a local. You will have to attach your proof of income, or annual tax withholding slips. As a rule, you will be also expected to have a proof of working for several years without changing your job.
Same is in case when you are an overseas national with a long-term working experience in Japan, or your spouse is a permanent resident visa holder. You will have to submit a proof of income and a brief record of your long year career in Japan.
As for the non-residents, such as the foreign investors, getting a loan may be a complicated thing to do. Usually each case is being dealt with considering all the individual details. Chinese citizenship holders are qualified for applying for a property loan at the Bank of China in Tokyo. As for the Hong Kong residents, Shinsei Property Finance often approves the home loan applications.
But what about the other countries nationals? To be honest, trying to get a loan at the Japanese bank would be really difficult. Note that smaller banks are often accepting the non-Japanese resident's property loan application more willingly. If you prefer a bigger institution, you may try SMBC Prestia, Suruga Bank or already mentioned the Bank of China or Shinsei bank.
When applying for a property loan, remember that you must be less than 75 years old by the estimate fully repayment time. Also you may have to qualify for group credit life insurance, which is a measure to secure the lender in case of sudden death of long-term illness which disabled the lender to repay his loan. This insurance is not a must requirement at all of the banks, still many of them may require it. Sometimes the insurance fee is already added to your monthly payment sum, which is convenient. Also keep in mind that some banks may restrict early loan repayments to secure their interest in future.
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