Getting a Loan in China

[Meiji Huaren]

We are finding that it's not easy for us to get a loan in China to buy an apartment since we are working in the US. The banks in China do not accept our US documents showing proof of income and employment.

 

Have any of you living and working in the US been able to successfully get a loan from a Chinese bank to buy property?

[RobertH]

I thought a american could not buy it in China, it must be in his or hers spouse name.

[chilton747]

I have. The Chinese national has to provide documents showing that she has a current job in China (perhaps the province the house is located) and how much her salary is.

 

The Chinese would not accept my proof of employment for consideration.

[GDBILL]

Expats can purchase property in China. There are restrictions that are supposed to require the expat to have lived in China for at least one year on a residence permit before they are allowed to purchase only one residential property designed to be their principal place of abode. This restriction does not apply if the expat is a co-purchaser with a Chinese national.

 

Unless you can substantiate a certain amount of locally obtained income, your chances of getting approved for a mortgage by a Chinese lender are virtually nil. I mean, come on ... it's only common sense.

[tsap seui]

I have. The Chinese national has to provide documents showing that she has a current job in China (perhaps the province the house is located) and how much her salary is.

 

The Chinese would not accept my proof of employment for consideration.

 

Cuzin' bubba, that's cause cookin' shine and scratchin' yer johnson as you lay in yore hammock, ain't no job...even the Chinertuckians knows that, who you tryin' to fool, yo mama?

 

tsap seui

Edited December 25, 2009 by tsap seui (see edit history)

[Guest Pommey]

I have. The Chinese national has to provide documents showing that she has a current job in China (perhaps the province the house is located) and how much her salary is.

 

The Chinese would not accept my proof of employment for consideration.

 

Cuzin' bubba, that's cause cookin' shine and scratchin' yer johnson as you lay in yore hammock, ain't no job...even the Chinertuckians knows that, who you tryin' to fool, yo mama?

 

tsap seui

 

 

it aint a job its a vocation

[Randy W]

We were able to buy an apartment but only in my wife's name, until I had lived there for 6 months or a year (I forget which).

 

We were not able to get a loan - neither me as a foreigner, or her as a green card holder. To get a load, we would have had to have put it in her son's name, which we didn't want to do.

[chilton747]

I have. The Chinese national has to provide documents showing that she has a current job in China (perhaps the province the house is located) and how much her salary is.

 

The Chinese would not accept my proof of employment for consideration.

 

Cuzin' bubba, that's cause cookin' shine and scratchin' yer johnson as you lay in yore hammock, ain't no job...even the Chinertuckians knows that, who you tryin' to fool, yo mama?

 

tsap seui

 

Land sakes cuzin' Tsapper, I thoughts fo shore they wood've taken my 100 proof for employment but I guess not.

 

Funny thing is, they took my wife's proof of employment and she didn't even have a job. She was makin 150 proof rice wine so that cood've been the reason.