We are able to help those looking for a loan while on a 457 visa. Our 457 visa home loan
page will help you to get a better understanding of buying a property in Australia.
Buying a house on a a 457 visa in Australia is a lot easier than you think! Most banks will not accept those who are on 457 visa for a home loan, or if they do they will only lend a maximum of 80% of the property value. Some banks are more restrictive than others because they see temporary residents
such as 457 visa holders as non residents
as well. However with our help you will be able to borrow up to 90% of the property value!
This is because we have made special agreements with certain banks to lend more than they usually would. This is exclusive to our company and not available through the banks directly or through other mortgage brokers.
In your situation a minimum 10% deposit will be required to complete your purchase. For example if you are buying a $300,000 you will need a $30,000 deposit.
Note that in Australia banks have a fee called lenders mortgage insurance or LMI
. This fee is a one off fee paid by the borrower to insurance high risk loans. High risk loans are usually catagorised as loans over 80% loan to value ratio
or borrowers who have impaired credit history.