Japan housing finance updates: Flat 35 expansions and Rakuten Bank new mortgage

The Japan Housing Finance Agency is introducing updates to its ‘Flat 35’ mortgage program starting this autumn. To support homebuyers amidst rising prices, a new ‘Flat Sumairu Point’ service will launch in October 2026, offering up to 150,000 Rakuten Points based on loan amounts and additional 20,000 points for the birth of a child. Furthermore, starting September 2026, the program will expand to include costs for simple home renovations within the used housing loan, making it easier for buyers to combine purchase and minor repair costs.

In a separate development, Rakuten Bank has launched ‘Flat 50,’ a mortgage product offering fixed interest rates for repayment periods between 36 and 50 years. The product aims to reduce monthly payments for long-term borrowers and is available for both new loans and refinancing. Interest rates are set at 3.50% with group credit life insurance and 3.30% without, with potential rate reductions of up to 1.00% based on a point system related to household size and housing performance.