PowerSmart Home Mortgage
PowerSmart Home Mortgage Details
PowerSmart Home Mortgage Product Description (PDF)
Application eligibility
Anyone who meets all of the following conditions: Joint Income Guarantor:
  • Is between the ages of 20 and 65 at the time of borrowing
  • Continuously employed for 2 years or more and the 2-year average annual gross income must be 2 million or more (self-employed must have business history of 2 years or more and the 2-year average annual net income after business expense deducted must be 2 million or more)
  • Is either the applicant's spouse, parent, parent-in-law, child, son/daughter-in-law
  • Applicant's annual income before tax for the previous fiscal year is 3 million yen or more
  • 1) Joint income applicant must become the joint guarantor for the mortgage. Only one joint income applicant can be appointed, and if the application is approved he/she must attend the applicant for contract closing.
  • 2) The applicant and the joint income applicant must together be registered as the joint property owners.
  • 3) In case the joint income applicant is the applicant's fiance/fiancee, a certificate of marriage or relevant evidence of marriage must be submitted by the time of the contract closing.
Pair Loans:
  • If the property is jointly owned, 2 separate loans can be contracted in proportion to the property ownership.
  • Applicant and the joint applicant must become responsible for fees and costs incurred for 2 separate loans.
  • Housing loan deductions can be applied, if eligible, for each of the 2 loan balances separately reported.
  • The total loan amount must be 5 million yen or over.
  • Property must be jointly owned by the applicant and the joint applicant.
  • The relationship between the applicant and the joint applicant must be first degree of kinship.
  • Satisfies other qualifications and conditions (collateral value estimates, etc.) specified by Shinsei Bank.
Purpose of funds
PowerSmart Home Mortgage is only available for financing a residence of the applicant or the family member(s) of the applicant(*1)(*2), and is limited to the following purposes:
  • Purchase of a detached house or an apartment (including second hand properties)
  • Construction of a new house on land already owned (note that the loan disbursement must be executed in lump-sum upon completion of the construction of the house)
  • Refinance of a mortgage from another financial institution (partial refinance not accepted)
Not available if:
  • 1) there is a leasehold contract registered on any part of the land,
  • 2) the property is located within urbanization-restricted area(*3) (except the case development permission by the authority is confirmed),
  • 3) the property is located outside of the city planning area(*3),
  • 4) the property is a holiday house,or
  • 5) the property does not conform to The Building Standard Law of Japan and/or other laws and regulations.
Please note that PowerSmart Home Mortgage is not available for the following purposes:
  • Renovations
  • Land only purchases (except the case where the applicant has owned the house already built on such land)
  • (*1) Applicant's spouse, dependents registered as such on the applicant's health insurance card, parents of the applicant and/or of the spouse are considered as the family members of the applicant.
  • (*2) Properties currently for rent are not acceptable. For more details please contact Shinsei PowerCall.
  • (*3) Please consult your real estate brokers or concerned department at your municipal office to confirm if the property is located within the urbanization-restricted area, or outside of the city planning area.
Loan amount
From 5 million to 100 million yen (in units of 100,000 yen).

Loan term
From 5 years to 35 years (in units of 1 year).

  • 1st lien with standard or revolving collateral will be registered against the property financed by this mortgage provided by Shinsei Bank until the mortgage obligation is fully repaid.
  • Please note that the customers will be required to use scriveners assigned by the Bank and will be responsible for all collateral registration and scrivener fees.
  • The floor area for a detached house must be 50 square meters or over (25 square meters for an apartment).
  • The category of building must be 'residential' or 'residential with the are for business office or for a shop'. Exception: Accepted if the property whose category is 'residential with shop area' or 'residential with office area' AND if all of the following conditions are satisfied: 1) Residential area must be more than 50% of the property, and 2) the shop or office area must be used by the applicant.
Joint Ownership
  • If the property is jointly owned by multiple owners such as the applicant and his/her spouse, all concerned owners must together attend the contract closing and all names of the joint owners and the proportion of each ownership will then be officially registered on the property. Note that gift tax would be applied if the actual amount that each owner is responsible for to acquire the property is not in proportion to the property ownership.
  • All of the joint property owners must appear at the contract closing. In case of the detached house, both the land and the house must require collateral registration: if the land owner is not the house owner, both must show up to Shinsei Financial Center to sign for the contract closing as the joint owners. For example, if you are to build a new house on the land that your father owns, the mortgage must be provided upon 1st lien of collateral registration set against both the land and the house. Therefore your father becomes the collateral provider to confirm and agree to set collateral registration (note unless your father is your joint income applicant, he will not become your joint guarantor).
  • Collateral provider(s) do not necessarily have to be living together with the applicant.
The above conditions are subject to change without prior notification.
For further details, please contact the Home Mortgage call center (0120-456-515).
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