SMBC Prestia, Shinsei Bank, MUFG, SBI, and the Flat 35 program all offer mortgage products to foreign nationals — but eligibility varies dramatically by residency status. Permanent residents can access 10+ lenders; non-residents have effectively zero standard mortgage options.
The biggest challenge is not the interest rate — Japan's rates remain among the lowest in the world. The challenge is finding a bank that will accept your application. This guide profiles every major bank and lending program available to foreign buyers in Japan, with detailed assessments of eligibility, language support, rate competitiveness, and practical considerations. For the complete mortgage eligibility and application process, see our mortgage guide for foreigners.
Last updated: March 16, 2026
Opening a Bank Account as a Foreign Resident
Opening a bank account in Japan as a foreigner requires a residence card (在留カード) and a registered Japanese address. Most major banks accept applications from foreign residents, though the level of English support varies significantly.
- SMBC Prestia: Full English support — online and in-branch account opening available for foreign residents. The most accessible option for English speakers.
- Shinsei Bank (SBI Shinsei): English online banking interface. Account opening available for residents with 6+ months remaining on their visa.
- Sony Bank: Online-only bank with English support. Popular among foreign residents for multi-currency accounts and competitive foreign exchange rates.
- Rakuten Bank: Japanese-language interface, but straightforward online account opening. Integrates with the Rakuten ecosystem for cashback and points.
Note: Account opening requirements change periodically. Always check each bank's official website for the latest eligibility conditions. Most banks require a residence card and a registered Japanese address.
If you're a foreign resident or investor looking for mortgage and financing options from these banks, read on — the full bank-by-bank comparison starts below.
Overview: How Bank Access Works for Foreign Buyers
Your mortgage options in Japan are determined primarily by one factor: residency status. Nationality matters far less than whether you hold permanent residency, how long you have lived in Japan, and whether you have stable employment with a Japanese employer.
| Residency Status | Number of Banks Available | Typical Experience |
|---|---|---|
| Permanent resident (永住権) | 10+ banks and lenders | Near-identical to Japanese nationals; choice is about finding the best rate |
| Non-permanent resident (3+ years) | 3–5 banks | Limited options; process requires more documentation and patience |
| Recent resident (under 3 years) | 1–2 banks or specialist lenders | Difficult; high down payments; may need co-borrower |
| Non-resident (living abroad) | Effectively zero | Standard bank mortgages unavailable; cash purchase or alternative financing |
The bank profiles below are organized from most to least accessible for foreign borrowers.
Bank-by-Bank Comparison
SMBC Prestia (SMBC Trust Bank)
The benchmark for foreign buyer mortgages in Japan.
SMBC Prestia is the successor to Citibank Japan's retail banking operations, acquired by Sumitomo Mitsui Financial Group in 2015. It retains the international client infrastructure that Citibank built over decades, making it the most accessible Japanese bank for foreign nationals.
| Feature | Details |
|---|---|
| Permanent residents | Fully supported |
| Non-permanent residents | Accepted with conditions (3+ years residency, stable employment) |
| Non-residents | Not available |
| English support | Full — English website, English-speaking mortgage advisors, English documentation available |
| Minimum income | Approximately ¥5 million annually |
| Down payment | 20%+ for non-PR; as low as 10% for PR holders |
| Rate types | Variable and fixed-period selection |
| Rate competitiveness | Mid-range — not the cheapest, but the premium buys accessibility and English support |
| Branches | Major cities (Tokyo, Osaka, Nagoya, Kobe, Yokohama, Fukuoka) |
Strengths:
- The only major bank where the entire mortgage process — from initial consultation through closing — can be conducted primarily in English
- Staff experienced with non-standard income documentation (overseas income, multiple currencies, self-employment)
- Accustomed to working with non-PR holders, which means the internal approval process is smoother
- Offers international fund transfer services, useful for bringing purchase funds into Japan
Considerations:
- Rates are typically 0.1–0.3% higher than the most competitive online banks (the premium for English service and foreign-buyer expertise)
- Minimum income threshold (¥5M) is higher than some competitors
- Branch network is smaller than mega-banks, though major cities are covered
Best for: Non-PR holders, English speakers, buyers who want the most frictionless process.
Shinsei Bank (SBI Shinsei Bank)
Online-first bank with competitive rates and partial English support.
Shinsei Bank was established from the restructured Long-Term Credit Bank of Japan and has positioned itself as an innovative, technology-forward lender. It joined the SBI Group in 2021.
| Feature | Details |
|---|---|
| Permanent residents | Fully supported |
| Non-permanent residents | Accepted case-by-case (typically 3+ years residency required) |
| Non-residents | Not available |
| English support | Partial — online tools in English; in-branch varies by location |
| Minimum income | Approximately ¥3 million annually |
| Down payment | Flexible — as low as 10% for well-qualified PR holders |
| Rate types | Variable, fixed-period (1/3/5/7/10/15/20 years), step-up |
| Rate competitiveness | Competitive — especially on variable rates |
| Notable feature | Low transaction fees; no-fee mortgage transfer (借り換え) for refinancing |
Strengths:
- Competitive variable rates, often among the lowest available from a brick-and-mortar bank
- Online application process reduces paperwork burden
- Lower minimum income requirement (¥3M) than Prestia
- Flexible fixed-rate options with many tenor choices
Considerations:
- English support is inconsistent — some branches and call center agents handle English well, others do not
- Non-PR applications are evaluated case-by-case with no guaranteed acceptance criteria
- Online-first model means less hand-holding during the process
Best for: PR holders seeking competitive rates; non-PR holders with strong profiles willing to navigate partial Japanese-language processes.
Resona Bank
The most foreigner-friendly among traditional Japanese banks.
Resona is a major Japanese bank (the fifth-largest by assets) that has carved out a reputation for being more willing than its peers to serve foreign borrowers.
| Feature | Details |
|---|---|
| Permanent residents | Fully supported |
| Non-permanent residents | Accepted — minimum residency as low as 1 year |
| Non-residents | Not available |
| English support | Limited — primarily Japanese-language process |
| Minimum income | Approximately ¥1 million annually (lowest among major banks) |
| Down payment | Varies by profile; can be as low as 10% for PR holders |
| Rate types | Variable, fixed-period selection |
| Rate competitiveness | Mid-range |
| Notable feature | Lowest minimum residency requirement; lowest income threshold |
Strengths:
- Will consider non-PR applicants with as little as 1 year of residency — significantly more flexible than most competitors
- Very low minimum income threshold (¥1M), broadening access for younger or lower-income borrowers
- Established process for handling foreign national applications
Considerations:
- English support is limited; you will likely need a Japanese speaker for the application process
- Rate competitiveness is moderate — not the cheapest, but competitive
- Approval is not guaranteed for short-residency applicants; strong employment documentation helps
Best for: Non-PR holders with shorter residency history (1–3 years) who can navigate the process in Japanese or with translation support.
MUFG (Mitsubishi UFJ Financial Group)
Japan's largest bank — conservative but comprehensive.
MUFG (Mitsubishi UFJ Bank) is the largest financial institution in Japan and one of the largest in the world. Its mortgage products are comprehensive but its approach to foreign borrowers is conservative.
| Feature | Details |
|---|---|
| Permanent residents | Fully supported |
| Non-permanent residents | Very limited — evaluated strictly case-by-case; PR strongly preferred |
| Non-residents | Not available |
| English support | Limited — dedicated international branches in some locations (e.g., Tokyo, Osaka) but the mortgage process is primarily in Japanese |
| Minimum income | Approximately ¥4 million annually |
| Down payment | 10%+ for PR holders; 30%+ for non-PR (if accepted at all) |
| Rate types | Variable, fixed-period, full-term fixed |
| Rate competitiveness | Mid-range |
| Notable feature | Largest bank; highest lending limits for large property purchases |
Strengths:
- Highest lending capacity — for high-value properties (¥100M+), MUFG can accommodate larger loans than smaller banks
- Comprehensive product range with many fixed-rate tenors
- Stability and institutional credibility
- Some branches have international desks with multilingual staff
Considerations:
- Conservative underwriting — non-PR applicants face a high rejection rate
- The application process is Japanese-language dominant
- Not the most competitive rates (the premium reflects the institution's size and conservatism)
Best for: PR holders purchasing high-value properties who want the backing of Japan's largest bank.
Mizuho Bank
Major bank with limited foreign buyer flexibility.
Mizuho is one of Japan's three mega-banks (alongside MUFG and SMBC). Its mortgage products are competitive for Japanese nationals and permanent residents, but access for non-PR holders is restricted.
| Feature | Details |
|---|---|
| Permanent residents | Fully supported |
| Non-permanent residents | Very limited — Japanese spouse or co-borrower significantly improves chances |
| Non-residents | Not available |
| English support | Limited — primarily Japanese-language |
| Minimum income | Approximately ¥4 million annually |
| Down payment | 10%+ for PR; 20–30% for non-PR with spouse |
| Rate types | Variable, fixed-period, full-term fixed |
| Rate competitiveness | Mid-range, competitive on specific promotional products |
Strengths:
- Competitive rates on promotional products (often matching or beating Shinsei on specific tenors)
- Extensive branch network across Japan
- Having a Japanese spouse dramatically improves non-PR approval chances
Considerations:
- Non-PR applicants without a Japanese spouse face very limited prospects
- English support is minimal
- Application process is traditional (paper-heavy, branch-visit-heavy)
Best for: PR holders seeking competitive rates from a mega-bank; non-PR holders with a Japanese spouse as co-borrower.
SBI Sumishin Net Bank
The lowest rates in Japan — but Japanese-only and PR-focused.
SBI Sumishin Net Bank (住信SBIネット銀行) is an online-only bank that consistently offers the most competitive mortgage rates in Japan. It is the bank that rate-conscious permanent residents should evaluate first.
| Feature | Details |
|---|---|
| Permanent residents | Fully supported |
| Non-permanent residents | Effectively not available (PR required in practice) |
| Non-residents | Not available |
| English support | None — entire process in Japanese only |
| Minimum income | Varies; online application evaluates automatically |
| Down payment | As low as 0–10% for well-qualified PR holders |
| Rate types | Variable, fixed-period |
| Rate competitiveness | Highest — variable rates from approximately 0.3% |
| Notable feature | All-disease group credit life insurance (全疾病保障) included at no additional cost |
Strengths:
- Lowest variable rates in the market (approximately 0.3% as of March 2026)
- No-cost all-disease group credit life insurance — a significant value-add
- Entirely online process — efficient for those comfortable in Japanese
- No branch visits required
Considerations:
- Japanese language only — all applications, documents, and customer service are exclusively in Japanese
- Effectively requires permanent residency; non-PR applications are rarely successful
- No in-person support available; troubleshooting is via Japanese-language call center or chat
Best for: PR holders who are fluent in Japanese (or have a Japanese-speaking partner/advisor) and want the absolute lowest rate.
Flat 35 (Japan Housing Finance Agency)
Government-backed full-term fixed rate — the most stable option.
Flat 35 is not a bank but a government-backed mortgage program administered by the Japan Housing Finance Agency (住宅金融支援機構, JHF). It is offered through participating lenders — the largest being ARUHI, but also available through most banks listed above.
| Feature | Details |
|---|---|
| Permanent residents | Fully supported through all participating lenders |
| Non-permanent residents | Program does not require PR, but most participating lenders do require it in practice |
| Non-residents | Not available |
| English support | Varies by participating lender (ARUHI has limited English support) |
| Rate type | Full-term fixed only (15–35 years) |
| Rate | Approximately 1.5%–2.5% fixed for the entire term (March 2026) |
| Notable feature | Rate locked for the entire loan period — no interest rate risk |
| Property requirement | Must meet JHF technical standards (floor area, energy efficiency, structural criteria) |
Strengths:
- Complete rate certainty for up to 35 years — no variable-rate risk
- Government backing provides institutional stability
- No nationality restriction in the program itself
- Competitive fixed rates by international standards (1.5–2.5% for 35-year fixed is lower than most countries' variable rates)
Considerations:
- Higher rate than variable products (approximately 1.0–2.0% premium over variable)
- Most participating lenders require permanent residency even though the program technically does not
- The property must pass a JHF technical inspection — older buildings or non-standard constructions may not qualify
- ARUHI (the largest Flat 35 lender) charges an origination fee of typically 1.1–2.2% of the loan amount
Best for: PR holders who prioritize payment stability over rate optimization; buyers planning to hold for 15+ years; risk-averse borrowers.
Quick Comparison Table
| Bank | PR Holders | Non-PR Holders | English | Rate Level | Best For |
|---|---|---|---|---|---|
| SMBC Prestia | ◎ | △ | ◎ | Mid | English speakers, non-PR |
| Shinsei Bank | ◎ | △ | ○ | Mid-Low | Online-savvy, rate-conscious |
| Resona Bank | ◎ | ○ | △ | Mid | Short residency, low income threshold |
| MUFG | ◎ | ✕ | △ | Mid | High-value purchases |
| Mizuho | ◎ | ✕ | △ | Mid | PR holders, Japanese spouse cases |
| SBI Sumishin | ◎ | ✕ | ✕ | Lowest | PR holders fluent in Japanese |
| Flat 35 | ◎ | ✕ | △ | Highest (fixed) | Long-term stability |
Legend: ◎ = Fully supported | ○ = Possible with conditions | △ = Limited | ✕ = Not available / Not practical
Non-Residents: Your Financing Options
If you live outside Japan and do not hold a Japanese residence card, standard Japanese bank mortgages are effectively not available to you. This is a firm constraint — not a matter of finding the right bank.
Why Banks Won't Lend to Non-Residents
Japanese banks require borrowers to maintain a domestic bank account, hold valid residency, and demonstrate income within the Japanese financial system. Non-residents fail these requirements by definition. Additionally, enforcement of loan obligations against someone with no Japanese presence is impractical.
Alternative Financing for Non-Residents
Cash purchase: The most common approach for non-resident investors. Benefits include faster closing, stronger negotiating position, and no ongoing interest cost. When purchasing with cash, verifying the price against actual market data is particularly important to avoid overpaying. JRE provides MLIT-sourced transaction data for over 20 locations across Japan — use it to confirm that the property's price aligns with actual recorded transactions rather than inflated asking prices.
Home country financing: Some investors borrow against assets in their home country — a home equity line of credit (HELOC), securities-backed lending, or a personal loan — and transfer the funds to Japan. This avoids Japanese lending requirements entirely but introduces currency risk between your borrowing currency and yen.
Private banking: Ultra-high-net-worth individuals may access mortgage products through private banks (both Japanese and international) that operate outside standard retail lending criteria. Minimum asset requirements are typically ¥100 million or more.
Developer financing: Some Japanese developers, particularly for new-build projects, offer in-house financing that may be more flexible on residency requirements. Terms are typically shorter (10–15 years) and rates higher (2–4%).
For the full cost structure of a Japanese property purchase — whether financed or cash — see our detailed breakdown.
The Bank Account Challenge
Most Japanese banks require a residence card (在留カード / zairyū kādo) and a registered Japanese address to open an account. This creates a practical barrier for non-resident buyers that extends beyond mortgage access — even completing a cash purchase requires a mechanism to receive and disburse funds within the Japanese banking system.
Limited options include:
- SMBC Prestia: May accommodate non-residents in limited circumstances with an in-branch visit during a Japan trip. As the successor to Citibank Japan, Prestia retains more international client infrastructure than other Japanese banks, but non-resident account opening is not guaranteed.
- Judicial scrivener trust accounts: Funds can be routed through your judicial scrivener's (司法書士) professional trust account for the purchase transaction. This is the most common mechanism for non-resident buyers completing cash purchases.
- Agent-facilitated transfers: Some real estate agencies can receive funds into designated accounts on behalf of buyers, coordinating disbursement with the judicial scrivener at closing.
For detailed information on transfer methods, cost comparisons, and strategies for managing post-purchase payments without a Japanese bank account, see our guide to sending money to Japan.
How to Choose the Right Bank
Decision Framework by Profile
If you have permanent residency and want the lowest rate: → Apply to SBI Sumishin Net Bank (if comfortable with Japanese) or Shinsei Bank (if you prefer some English support). Compare quotes from both.
If you have permanent residency and want a fully fixed rate: → Apply for Flat 35 through ARUHI or your chosen bank. Lock in the current 1.5–2.5% for up to 35 years.
If you are a non-PR holder (3+ years residency): → Start with SMBC Prestia. It has the most established process for non-PR borrowers and full English support. Also consider Resona (especially if your residency history is shorter) and Shinsei (for potentially better rates if your profile is strong).
If you are a non-PR holder with less than 3 years residency: → Resona is your best option given its 1-year minimum residency threshold. Prestia may also consider your application depending on employment stability and income. Prepare for higher down payment requirements (30–50%).
If you need the entire process in English: → SMBC Prestia is the only realistic option for a fully English-language mortgage experience.
If you are purchasing a high-value property (¥100M+): → MUFG can accommodate larger loans than most competitors. Also consider Prestia for the combination of English support and lending capacity.
Applying to Multiple Banks
There is no penalty for applying to multiple banks simultaneously. In fact, it is recommended — particularly for non-PR holders, whose approval is less certain. Apply to 2–3 banks in parallel and compare the formal offers (not just indicative rates) before committing.
Pre-approval applications are non-binding and typically take 1–2 weeks. Use this period to continue researching properties and comparing area price data on JRE.
Documents Needed for Mortgage Application
All Japanese banks require a standard set of documents. Non-PR applicants need additional items to demonstrate long-term commitment to Japan.
Standard Documents (All Applicants)
| Category | Document | Notes |
|---|---|---|
| Identity | Residence card (在留カード) | Must be valid and current |
| Identity | Passport | Photo and personal information pages |
| Identity | Certificate of residence (住民票) | From your local municipal office; issued within 3 months |
| Income | Tax withholding certificates (源泉徴収票) | Last 3 years; issued by employer |
| Income | OR: Tax returns (確定申告書) | For self-employed or those with multiple income sources |
| Employment | Employment certificate (在職証明書) | Confirming position, tenure, and income |
| Property | Sale and purchase contract (売買契約書) | Signed contract for the target property |
| Property | Important Matters Explanation (重要事項説明書) | Provided by the real estate agent |
| Seal | Registered seal certificate (印鑑証明書) | Requires prior seal registration at municipal office |
| Insurance | Health insurance card copy | Verifies enrollment in Japanese health insurance |
| Banking | Bank statements (6–12 months) | Showing savings balance and salary deposits |
Additional Documents for Non-PR Applicants
| Document | Purpose |
|---|---|
| Letter of intent to remain in Japan | Explains your long-term residency plans |
| Employment contract showing expected tenure | Demonstrates job stability |
| Spouse's documentation (if Japanese spouse) | Strengthens application significantly |
| PR application receipt (if pending) | Shows intent to obtain permanent residency |
| Residence history documentation | Supports claims of long-term residency |
Document Tips
- Start early. Tax certificates and employment certificates can take 1–2 weeks to obtain. Seal registration (実印登録) at your local ward office is a prerequisite for the registered seal certificate.
- Prepare Japanese translations. Any foreign-language documents (e.g., overseas income records, home country employment contracts) must be accompanied by certified Japanese translations.
- Keep copies of everything. Banks may request additional copies during the review process. Maintain a complete digital and physical file.
The documentation requirements are similar regardless of which bank you apply to. For the complete step-by-step buying process — including how the mortgage application fits into the broader transaction timeline — see our buying guide.
Frequently Asked Questions
Can I refinance my Japanese mortgage later?
Yes. Mortgage refinancing (借り換え, karikae) is common in Japan. If rates drop or your financial profile improves — for example, if you obtain permanent residency after taking out a mortgage as a non-PR holder — you can refinance with the same bank or transfer to a more competitive lender. Shinsei Bank and SBI Sumishin are particularly competitive for refinancing products. Some banks charge a refinancing fee, but many (including Shinsei) waive it. Refinancing to a lower rate after obtaining PR is one of the most effective strategies for non-PR holders who initially borrow at a premium rate.
Do Japanese banks check my credit history in my home country?
Generally, no. Japanese banks evaluate your credit history within Japan using domestic credit bureaus (CIC, JICC, KSC). They do not typically query international credit reporting agencies. However, your credit history in Japan matters — any missed payments on credit cards, phone contracts, or existing loans will appear in your Japanese credit record. If you are new to Japan, the absence of Japanese credit history is not a negative factor, but building a positive track record by using and paying a Japanese credit card on time is beneficial.
What happens if I leave Japan after getting a mortgage?
You remain legally obligated to make all scheduled payments. However, many mortgage contracts include a clause allowing the bank to demand full repayment if you lose your Japanese residency (一括返済請求). Banks vary in how strictly they enforce this — Prestia, given its international client base, tends to be more flexible. Before signing any mortgage agreement, explicitly ask the bank about their policy on borrower departure from Japan and get the answer in writing. If you plan to leave Japan at some point, discuss this scenario during the initial consultation, not after signing.
Can I pay off my Japanese mortgage early without penalty?
Most Japanese variable-rate mortgages allow early repayment (繰上返済) without penalty or with minimal fees. Fixed-rate mortgages may carry prepayment charges, particularly during the fixed-rate period. SBI Sumishin and Shinsei both offer no-fee partial and full prepayment on variable products. Check the specific prepayment terms before signing — this is particularly relevant for investors who may sell the property before the loan term ends.
Can I get a mortgage for an investment property?
Yes, but conditions are stricter. Investment property loans typically require larger down payments (30–40%), carry higher interest rates (+0.5–1.0% above owner-occupied rates), and undergo additional scrutiny regarding rental income potential. Orix Bank is one of the more established lenders for investment property financing. For the best investment returns, verify rental yield expectations against actual area transaction data to ensure the property's purchase price supports your target yield.
Is it worth getting a mortgage even if I can pay cash?
In Japan, yes — potentially. With variable rates starting at approximately 0.3%, the cost of borrowing is extraordinarily low. If your investment capital can generate returns above 0.3–0.5% elsewhere, it may be financially advantageous to take a mortgage and invest the difference. This leverage strategy is particularly compelling in Japan compared to countries where mortgage rates are 5–7%. However, this involves risk — rates may rise, and leveraged positions amplify both gains and losses. Assess your risk tolerance and consult a financial advisor. For current rate details, see our 2026 mortgage rates guide.
Related Articles
- Japan Mortgage Rates 2026: Current Rates & Options →
- Japan Mortgage for Foreigners: Complete Guide →
- Japan Property Buying Costs: Complete Fee Breakdown →
- FEFTA 2026: Reporting Requirements for Foreign Buyers →
JRE Transaction Data
Whether you finance with a mortgage or purchase with cash, knowing the actual market price is essential. JRE provides MLIT-sourced transaction data — actual recorded sale prices, not asking prices — for over 20 locations across Japan. Use this data to negotiate effectively, verify appraisals, and ensure your purchase price aligns with market reality.
Disclaimer
This article provides general information about mortgage products available to foreign nationals in Japan as of March 2026. It is not financial advice. Bank lending criteria, interest rates, and product availability change frequently. Always confirm current terms, rates, and eligibility directly with each lender before making financing decisions. Consult with a qualified mortgage broker or financial advisor for advice specific to your situation.
Bank information is based on publicly available product descriptions, industry publications, and market research. Individual lending decisions are made by each bank based on the applicant's specific circumstances.