I just graduated. Do I have a chance of getting a house loan?
Last updated: 3 Aug 2025
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Everyone wants to own a home or condo, allowing them to live independently and create a comfortable living environment that fits their own needs. This is why recent graduates who are starting to earn a significant income seek home and condo loans. However, a major concern is whether they will be approved for a home or condo loan after graduating and earning a relatively low salary. The answer is that they are likely to be approved, but the following factors must be considered:
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1. Must have at least one year of employment.
The reason banks consider a borrower's length of employment is to assess their income stability. Salary from employment is the primary source of income for repaying the installments if a home loan application is approved. If a recent graduate has been employed for less than one year, this means that the borrower may be in a 3-6 month probationary period before being hired for a full-time position. This could result in a potential failure to pass the probationary period and the borrower having to change jobs, leaving their income insufficiently stable to meet the installment payments.
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2. Must have an income that is appropriate for the installment payments they are responsible for.
Generally, when considering home loan approval, the following factors are considered: Banks have a stipulation that the installment payment should not exceed 40% of income. For example, if a borrower earns 20,000 baht per month, the installment payment for a condo or apartment should not exceed 40% of 20,000 baht, or 8,000 baht. Therefore, recent graduates who have been working for at least one year have a chance of being approved for a home or condo loan. However, they must choose a home or condo that is priced within their financial ability and meets the bank's criteria.
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3. Have savings and no debt
The more debt a borrower has, the less likely they are to get a home loan. Especially for recent graduates who haven't been working for a long time, applying for a home loan with other debts makes it difficult for the bank to approve the loan. The best advice to increase the chances of getting a home loan approved for recent graduates who haven't been working for a long time is to maintain debt-free status and maintain bank statements demonstrating financial discipline. Having personal savings and savings is even better, as it demonstrates to the bank that you are financially disciplined and responsible with your spending. and have the ability to repay the bank's debt.
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In reality, recent graduates who have been employed for at least one year have a better chance of getting approved for a home loan than you might think. This is if they can demonstrate to the bank that they have a stable income, a stable job, are debt-free, and choose a house or condo price that matches their salary base. Since borrowers are younger, typically between 20 and 25 years old, they have a longer repayment period, and their monthly payments are lower than those who are older and have a shorter repayment period, resulting in higher monthly payments. Therefore, they are more likely to be rejected if their finances are not strong enough to convince the bank that they can repay the debt.
Therefore, if you really want to apply for a home or condo loan, you don't have to worry about being rejected even after graduating and working for a short period. If you are financially prepared and demonstrate to the bank your ability to repay, it will be easier to get a home loan than you might think.
___________________________________________
Thank you for the great information from REIC.
___________________________________________
1. Must have at least one year of employment.
The reason banks consider a borrower's length of employment is to assess their income stability. Salary from employment is the primary source of income for repaying the installments if a home loan application is approved. If a recent graduate has been employed for less than one year, this means that the borrower may be in a 3-6 month probationary period before being hired for a full-time position. This could result in a potential failure to pass the probationary period and the borrower having to change jobs, leaving their income insufficiently stable to meet the installment payments.
___________________________________________
2. Must have an income that is appropriate for the installment payments they are responsible for.
Generally, when considering home loan approval, the following factors are considered: Banks have a stipulation that the installment payment should not exceed 40% of income. For example, if a borrower earns 20,000 baht per month, the installment payment for a condo or apartment should not exceed 40% of 20,000 baht, or 8,000 baht. Therefore, recent graduates who have been working for at least one year have a chance of being approved for a home or condo loan. However, they must choose a home or condo that is priced within their financial ability and meets the bank's criteria.
___________________________________________
3. Have savings and no debt
The more debt a borrower has, the less likely they are to get a home loan. Especially for recent graduates who haven't been working for a long time, applying for a home loan with other debts makes it difficult for the bank to approve the loan. The best advice to increase the chances of getting a home loan approved for recent graduates who haven't been working for a long time is to maintain debt-free status and maintain bank statements demonstrating financial discipline. Having personal savings and savings is even better, as it demonstrates to the bank that you are financially disciplined and responsible with your spending. and have the ability to repay the bank's debt.
___________________________________________
In reality, recent graduates who have been employed for at least one year have a better chance of getting approved for a home loan than you might think. This is if they can demonstrate to the bank that they have a stable income, a stable job, are debt-free, and choose a house or condo price that matches their salary base. Since borrowers are younger, typically between 20 and 25 years old, they have a longer repayment period, and their monthly payments are lower than those who are older and have a shorter repayment period, resulting in higher monthly payments. Therefore, they are more likely to be rejected if their finances are not strong enough to convince the bank that they can repay the debt.
Therefore, if you really want to apply for a home or condo loan, you don't have to worry about being rejected even after graduating and working for a short period. If you are financially prepared and demonstrate to the bank your ability to repay, it will be easier to get a home loan than you might think.
___________________________________________
Thank you for the great information from REIC.
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