Searching on the Internet for the cheapest mortgage is actually a daunting task.
There are so many choices, so let me tell you what I came up with after 2 hours of serious searching.
Tokyo has the cheapest mortgages on the planet by far, however it was hard to find a lender who does the paperwork in English, which is a must for me.
If you can find one then that's the way to go if you want the cheapest monthly payments and no credit checks.
I found that every country in the world has a different lending rate and guess what?You can borrow from any lender in the world you want.
A bank is a bank and today with the Internet at your fingertips, you can just as easily search for a mortgage in Tokyo, as search for a mortgage next door -- The Internet turns EVERY BANK into the bank next door.
Banks can only borrow money at the rate set by the government where they're physically located - in L.
A.
5.
5% - Dubai 9.
2% - New Zealand 7.
5% - Tokyo .
05% yep, you read that right, that's not a typo -- In Tokyo every bank can borrow money for only .
05% that means...
In Tokyo, all mortgage rates are below 2%.
And now because of the Internet, any person who contacts these lenders in Tokyo can switch over to these everyday low rates.
Instead of paying 2000 a month people are paying 600 a month for the same 30-year mortgage.
The Internet is amazing! That's it.
Happy mortgage hunting!