

Ocean Property invites you to learn more about joint home loans, as many are interested but do not know what it is, how it works, or who can co-borrow. Let’s dive into the details.
What is a joint home loan?
A joint home loan is a contract where one or more individuals (up to three) apply together for a home loan. This is commonly done when the main borrower does not qualify alone or does not have sufficient income for the desired loan amount. Adding a second or third borrower can help meet the bank's requirements. The main and co-borrowers must meet the following criteria:
- Age between 27 and 65 years.
- Must have a salary, fixed deposit, or if self-employed, must have been in business for at least 2 years. The main borrower's income must be at least 30,000 baht/month, and the combined income with the co-borrower(s) must exceed 50,000 baht/month to qualify for the loan.
Benefits of a joint home loan:
- It reduces the financial burden as the responsibility for loan repayments is shared.
- Increases the likelihood of a higher loan amount based on combined incomes, allowing for the purchase of higher-priced homes or condos.
- Speedier loan approval due to strong income verification.
Who can be a co-borrower for a home loan?
Ocean Property has the answers. You can apply for a joint home loan with the following individuals:
- Family members with the same surname,
such as parents, children, siblings, including married or unmarried couples (proof such as a wedding card or pre-wedding photos may be required).
- LGBTQ+ couples
can also apply, provided they can furnish proof of their relationship, such as a marriage certificate or shared house registration.
Things to know before deciding on a joint home loan:
- Both the main borrower and co-borrowers are jointly responsible for the full loan amount approved, not just half.
- Co-borrowers can jointly hold property rights, and changes in ownership can be requested through the bank.
- It is possible to remove a co-borrower from the loan, subject to bank approval.
- Consent from all co-owners is required to sell the property.
- Tax deductions are available for joint home loans, allowing up to 100,000 baht in deductions.
Interested in a joint home loan for a residence in Phuket? Ocean Property recommends the Ocean Town Muang-Ratsada Phuket, offering free initial loan consultation and recommending suitable banks at no cost. Contact us at 02-038-5020 or chat via Line Official @oceanproperty.
Ocean Town Muang-Ratsada features quality townhomes and commercial buildings in the heart of Phuket, designed to meet all dimensions of living needs, located at Sri Suthat Road, Ratsada, Mueang Phuket District, Phuket 83000. The project spans 20 rai and 30 square wah, including 171 townhome units and 16 commercial units.
Type A: Shallow
- 2-storey townhomes
- Starting area from 20 square wah
- Usable area of 115 square meters
- Front width of 5.7 meters
- 3 bedrooms, 2 bathrooms
- Parking for 1 car
Type B: Tide
- 2-storey townhomes
- Starting area from 20.70 square wah
- Usable area of 155 square meters
- Front width of 5.7 meters
- 3 bedrooms, 3 bathrooms, 1 multipurpose room
- Parking for 2 cars
Type C: Crest
- 3-storey commercial buildings
- Starting area from 23.80 square wah
- Usable area of 195 square meters
- Front width of 5 meters
Key nearby locations:
- Satri Phuket School: 3 km
- Mueang Phuket District Office: 3.7 km
- Vachira Phuket Hospital: 4.7 km
- Mission Hospital: 5 km
- Rajabhat Phuket University: 6.5 km
- Central Festival Phuket: 7 km
- King Power: 7 km
- Phuket International Airport: 33 km
For more information about the Ocean Town Muang-Ratsada Phuket:
- Call: 02-038-5020
- Website: https://www.oceanproperty.co.th/oceantown
- Line: @oceanproperty


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