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pegasus64128
Joined: 20 Aug 2011
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fosterman
Joined: 16 Nov 2011
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 Posted: Mon Feb 13, 2012 12:41 am Post subject: |
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10K down on a 80K house is VERY possible. most banks will cover that mortgage.
now before you guys all start saying"where in hell you finding a house or unit for 80 grand". well there are plenty, sure not in big cities. but there are cheap houses around. |
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pkang0202
Joined: 09 Mar 2007
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| Posted: Mon Feb 13, 2012 12:54 am Post subject: |
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| fosterman wrote: |
10K down on a 80K house is VERY possible. most banks will cover that mortgage.
now before you guys all start saying"where in hell you finding a house or unit for 80 grand". well there are plenty, sure not in big cities. but there are cheap houses around. |
To get a loan in Korea you need a Certificate of Guarantee issued by the Seoul Guarantee Insurance Company (www.sgic.co.kr) and unfortunately, SGIC currently has an internal policy that only allows them to issue this certificate to Korean nationals.
So, No mortgage for you. |
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Lazio
Joined: 15 Dec 2010
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| Posted: Mon Feb 13, 2012 1:46 am Post subject: |
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| pkang0202 wrote: |
| fosterman wrote: |
10K down on a 80K house is VERY possible. most banks will cover that mortgage.
now before you guys all start saying"where in hell you finding a house or unit for 80 grand". well there are plenty, sure not in big cities. but there are cheap houses around. |
To get a loan in Korea you need a Certificate of Guarantee issued by the Seoul Guarantee Insurance Company (www.sgic.co.kr) and unfortunately, SGIC currently has an internal policy that only allows them to issue this certificate to Korean nationals.
So, No mortgage for you. |
That was meant for Canada.
No one � Korean or not � will get that kind of mortgage here. Thank God. The country is already full of wannabe middle class people who can barely pay the interest, let alone the mortgage. |
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fosterman
Joined: 16 Nov 2011
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| Posted: Mon Feb 13, 2012 3:12 am Post subject: |
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| Lazio wrote: |
| pkang0202 wrote: |
| fosterman wrote: |
10K down on a 80K house is VERY possible. most banks will cover that mortgage.
now before you guys all start saying"where in hell you finding a house or unit for 80 grand". well there are plenty, sure not in big cities. but there are cheap houses around. |
To get a loan in Korea you need a Certificate of Guarantee issued by the Seoul Guarantee Insurance Company (www.sgic.co.kr) and unfortunately, SGIC currently has an internal policy that only allows them to issue this certificate to Korean nationals.
So, No mortgage for you. |
That was meant for Canada.
No one � Korean or not � will get that kind of mortgage here. Thank God. The country is already full of wannabe middle class people who can barely pay the interest, let alone the mortgage. |
what? you think you can't get a mortgage in canada? put down 10K on a 80K house..? |
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Privateer
Joined: 31 Aug 2005
Location: Easy Street.
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| Posted: Mon Feb 13, 2012 3:23 am Post subject: |
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With 10 million Won you can buy a house in the U.S....
...in Detroit. |
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Lazio
Joined: 15 Dec 2010
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| Posted: Mon Feb 13, 2012 4:49 am Post subject: |
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| fosterman wrote: |
| Lazio wrote: |
| pkang0202 wrote: |
| fosterman wrote: |
10K down on a 80K house is VERY possible. most banks will cover that mortgage.
now before you guys all start saying"where in hell you finding a house or unit for 80 grand". well there are plenty, sure not in big cities. but there are cheap houses around. |
To get a loan in Korea you need a Certificate of Guarantee issued by the Seoul Guarantee Insurance Company (www.sgic.co.kr) and unfortunately, SGIC currently has an internal policy that only allows them to issue this certificate to Korean nationals.
So, No mortgage for you. |
That was meant for Canada.
No one � Korean or not � will get that kind of mortgage here. Thank God. The country is already full of wannabe middle class people who can barely pay the interest, let alone the mortgage. |
what? you think you can't get a mortgage in canada? put down 10K on a 80K house..? |
I have no idea about the mortgage issues in Canada.
I just wanted to correct the previous poster that the 10k-80k thing was meant for Canada, not Korea! One will need a much higher down payment here in Korea (40% and up) |
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