What is the maximum mortgage I can get in Thailand?

The Bank of Thailand sets loan-to-value ceilings. A first home priced under 10 million baht can be financed up to 100 percent, but a second home requires roughly 10 to 20 percent down and a third home about 30 percent down. Higher-value first homes also face a 90 percent cap. Foreigners typically cannot get baht mortgages from Thai banks for freehold property.

What interest rates apply to Thai mortgages?

Thai home loans are usually floating and tied to a bank's Minimum Lending Rate (MLR) or Minimum Retail Rate (MRR), commonly landing in the 5 to 7 percent range. Many loans offer a low fixed teaser rate for the first one to three years before reverting to the MLR-linked rate.

How is the monthly payment calculated?

It uses the standard amortising formula: payment equals principal times the monthly rate divided by one minus (one plus the monthly rate) to the power of minus the number of months. Each payment covers that month's interest first, with the remainder reducing the balance.

Can foreigners get a mortgage in Thailand?

Thai banks rarely lend baht mortgages to foreigners for freehold property. Foreigners can legally own condominium units (up to 49 percent of a building's area) and may access financing through some international banks, developer schemes, or by securing the loan against assets abroad. This calculator models the loan mechanics regardless of borrower nationality.

Does this include fees and insurance?

No. The payment shown is principal and interest only. Thai purchases also carry transfer fees, mortgage registration fees (around 1 percent of the loan), and often mandatory mortgage reducing-term assurance. Budget for these separately using a transfer-tax calculator.

Thailand Mortgage Calculator

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A Thai mortgage looks different from a Western one: rates float against the bank’s lending rate, and the Bank of Thailand caps how much you can borrow depending on whether it is your first, second, or third home. This calculator models the loan mechanics and checks your deposit against the relevant LTV ceiling.

How it works

The monthly payment uses the standard amortising loan formula:

loan    = price − deposit
i       = annualRate / 12 / 100
n       = years × 12
payment = loan × i / (1 − (1 + i)^(−n))

Before computing, the tool compares your deposit to the LTV cap for the chosen property number. First homes can reach up to 90 to 100 percent LTV, second homes need roughly 10 to 20 percent down, and third homes about 30 percent down. If your deposit is below the minimum, the tool warns you and shows the shortfall.

Example and tips

A 4,000,000 baht first-home condo with a 10 percent deposit and a 30-year loan at 6 percent costs about 21,580 baht per month, with total interest over the term roughly equal to the original loan amount. Because Thai rates float, stress-test your budget at two to three percentage points higher than the teaser rate — when the fixed period ends and the loan reverts to the MLR-linked rate, the payment can rise sharply.