Several thousand people nationwide on Sunday scrambled to secure rights to buy new homes under the government's "One Million House" campaign, a one-day-only loan offer, which saw demand outstrip its credit line by 50 billion baht.
The government plans to finance the project with a 41-billion-baht budget.
But the number of loan requests on Sunday totalled 91 billion baht by 4pm, an hour before officials stopped receiving fresh applications.
Loan applicants applauded the government for initiating the project, which is aimed at giving earners better access to low-interest loans.
However, many raised doubts over why authorities gave them only one day to take advantage of the offer.
The Government Housing Bank will now screen out people whose qualifications did not match the criteria and will announce the list of grantees, and inform them by text message, over the next 90 days.
"They will be given up to a one-million-baht loan each to buy a residence," said Chatchai Sirilai, president of GHB.
Under the scheme, people who earn 25,000 baht a month or less could apply for loans with a flat interest rate of 3% over the initial five years.
Those who earn more would get similar low-interest rate but only over the first three years.
GHB's branches in Nakhon Ratchasima were busy on Sunday, with large queues outside before the sun had risen.
At some venues, the overcrowding sparked quarrels, causing bank staff to reorganise the queuing system.
"The one-day period for people apply for the loans is too short," Somphong Choengchoho, a car spares factory worker, lamented as he waited at a GHB branch in Nakhon Ratchasima municipality.
Mr Somphong, a father of one, said that he wants to buy a house for his family.
"This project could make my dream come true," he said.
He said the repayment conditions are good. According to officials, people who are given loans are required to pay 3,800 baht a month.
In Surat Thani, villagers gathered at 5am in front of GHB branch in Muang district, three and a half hours before its opening.
At 8am, bank staff handed out queue tickets whose numbers reached 500 in just 30 minutes.
Another branch in Ubon Ratchathani was also overcrowded with hundreds of applicants arriving at the crack of dawn, said Duanghathai Phakdi, manager of GHB branch.