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pkang0202
Joined: 09 Mar 2007
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 Posted: Tue Oct 14, 2008 5:20 am Post subject: Bank loan to pay deposit on an apartment? |
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Is there a way to get a loan from a bank in order to pay the deposit on an apartment?
I'm talking like a 5 mil or 10 mil loan.
Anyone know anything about it? |
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broken76
Joined: 27 Jan 2008
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| Posted: Tue Oct 14, 2008 6:00 am Post subject: |
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There's been a lot of talk on the boards about loans lately, but the bottom line is no.
Korean banks will not loan money to someone who is not a citizen. It sucks but they're protecting their bottom line.
Saving up money for a deposit is a pain but in the long run if you plan on staying long term in Korea it definitely gives you alot more freedom when it comes to getting a job. |
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saw6436
Joined: 16 Jan 2003
Location: Daejeon, ROK
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| Posted: Tue Oct 14, 2008 6:01 am Post subject: |
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| Yes. Banks here routinely loan for just that purpose. If your not Korean you will probably have a hard time getting a loan though. I couldn't get any kind of financing (car loan, house, et) as an F-2 for a couple of years. But, as soon as I applied for my F-5, I secured a morgage. |
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