Paying upfront costs with home mortgage?

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onemoreguyjin
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Paying upfront costs with home mortgage?

Post by onemoreguyjin »

Just looking at initial costs to buy a house in Okayama and surprised by how costly everything can be with upfront costs such as, the real estate agent commission, Fixed Asset Tax, Real Estate Registration Tax, Real Estate Acquisition Tax...

Can you pay these off with your home mortgage? I'm not super keen with paying this much out of pocket all at once.
Okayama, Japan

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Zasso Nouka
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Re: Paying upfront costs with home mortgage?

Post by Zasso Nouka »

It certainly is expensive buying a house, sadly I can't answer your question but hopefully someone else can.

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Re: Paying upfront costs with home mortgage?

Post by onemoreguyjin »

No problem! Thanks for a response!
Okayama, Japan

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Re: Paying upfront costs with home mortgage?

Post by gonbechan »

In my experience, new or used houses (have bought both kinds) those costs are paid cash before transfer.
Usually % of cost of house upfront, miscellaneous stamp fees, agent fee, scrivener fee (for transfer deed) etc to a rough total between 6-15% ish of the price of the house.

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Re: Paying upfront costs with home mortgage?

Post by onemoreguyjin »

Yeah, this seems to be the case. That’s a lot of money upfront for a kindergarten teacher... Looks like I’ll be saving for quite a while.
Okayama, Japan

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Paying upfront costs with home mortgage?

Post by Shizuman »

Gday

So my wife has found a loan type that might cover that upfront cost,
i think its mostly used for moving cost, any work that nees to be done etc but it might cover the upfront cost
may be worth looking into. shohiyou loan - 諸費用ローン.
I may be way off but might be worth looking into.
A couple of local banks here in Shizuoka offer it.
All the best

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onemoreguyjin
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Paying upfront costs with home mortgage?

Post by onemoreguyjin »

Shizuman wrote:
Thu Jul 23, 2020 9:12 pm
Gday

So my wife has found a loan type that might cover that upfront cost,
i think its mostly used for moving cost, any work that nees to be done etc but it might cover the upfront cost
may be worth looking into. shohiyou loan - 諸費用ローン.
I may be way off but might be worth looking into.
A couple of local banks here in Shizuoka offer it.
All the best
Sorry for the late reply! No email came through. I will take a look at this. I don't have PR so probably won't be an option for me but you never know! Thanks.
Okayama, Japan

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Zasso Nouka
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Paying upfront costs with home mortgage?

Post by Zasso Nouka »

onemoreguyjin wrote:
Mon Aug 10, 2020 1:17 pm
Sorry for the late reply! No email came through. I will take a look at this.
I didn't even know until today you could get an email notification of a reply, it's quite possible I haven't set this up properly :doh:

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KumamotoHunter
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Paying upfront costs with home mortgage?

Post by KumamotoHunter »

onemoreguyjin wrote:
Tue Jul 21, 2020 12:21 pm
Just looking at initial costs to buy a house in Okayama and surprised by how costly everything can be with upfront costs such as, the real estate agent commission, Fixed Asset Tax, Real Estate Registration Tax, Real Estate Acquisition Tax...

Can you pay these off with your home mortgage? I'm not super keen with paying this much out of pocket all at once.
I put all these costs into my mortgage and it was easy to do. I used a small, local bank.

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onemoreguyjin
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Paying upfront costs with home mortgage?

Post by onemoreguyjin »

KumamotoHunter wrote:
Tue Aug 25, 2020 10:28 am
onemoreguyjin wrote:
Tue Jul 21, 2020 12:21 pm
Just looking at initial costs to buy a house in Okayama and surprised by how costly everything can be with upfront costs such as, the real estate agent commission, Fixed Asset Tax, Real Estate Registration Tax, Real Estate Acquisition Tax...

Can you pay these off with your home mortgage? I'm not super keen with paying this much out of pocket all at once.
I put all these costs into my mortgage and it was easy to do. I used a small, local bank.
Really? I'm assuming you have PR though. I don't have PR yet so that narrows down my bank options....

How did the loan work, though? When the taxes came through how did you pay that money from the mortgage?
Okayama, Japan