Australian permanent resident loans
Who is this page for?
This page is for Australian permanent residents (PR) who would like to apply for a home loan to buy real estate in Australia.
How much can you borrow?
If you apply with the right lender, then as a permanent resident can get approved for a home loan just like Australian Citizens, with few if any restrictions. Some banks will lend you up to 95% of the property value plus mortgage insurance.
If you are a PR holder living outside of Australia then you can usually borrow up to 80% of the property value, however you may be able to borrow more on a case by case basis.
Do you know which banks can give you the best interest rate? Call us on 1300 889 743 or enquire online and one of our mortgage broker can help you to find a competitive home loan and to apply for first home benefits such as the first home owners grant.
Does it matter which immigration visa I have?
All of the below Visa’s are assessed by the Australian lenders as permanent residents, and so are eligible for home loans:
- Skilled – Sponsored (Migrant) Visa (Subclass 176)
- Independent Skilled Migration Visa
- State or Territory Nominated Independent Visa (STNI) (Subclass 137)
- Skilled Migrant – Australian Family Sponsored Visa
- Skilled Migrant – Regional (Designated Area) Family Sponsored Visa
- Distinguished Talent Migration Visa
- Independent Skilled Graduate Student Visa
- Skilled Graduate Student – Australian Family Sponsored Visa
- Skilled Graduate Student – Regional (Designated Area) Family Sponsored Migration Visa
- Independent Skilled New Zealand Citizen Migration Visa
- Skilled New Zealand Citizen – Australian Family Sponsored Visa
- Skilled New Zealand Citizen – Designated Area Family Sponsored Visa (Subclass 863)
- Skill Matching Scheme
- Australian Employer Nominated Migration Visa
- Regional (Designated Area) Employer Sponsored Visa (Subclass 857 / 119)
- Labour Agreement Migration Visa
- Former Resident (Subclass 151)
- Skilled Independent Regional (Provisional) Visa (Subclass 495) – The SIR Visa
- Graduate Skilled Temporary Visa (Subclass 497)
- Business Owner (Residence) Visa (Subclass 890)
- State or Territory Sponsored Business Owner (Residence) Visa (Subclass 892)
- Investor (Residence) Visa (Subclass 891)
- State or Territory Sponsored Investor (Residence) Visa (Subclass 893)
- Business Talent Migration Visa (Subclass 132)
- Established Business in Australia (Subclass 845)
- Regional Established Business in Australia (Subclass 846)
- Spouse or De-Facto Spouse Migrant (Subclass 309/100 – 820/801)
- Prospective Marriage Partner – Fiancé
- Interdependent Partner Migration
- Working Age Parent – Class AX (Subclass 103)
- Aged Parent Migration – Class BP (Subclass 804)
- Aged Dependent Relative (Subclass 114 & 838)
- Remaining Relative (Subclass 115 & 835)
- Carer Migration (Subclass 116 & 836)
- Resident Return Visa
- Contributory Parent – Class CA (Subclass 143)
- Contributory Parent – Class DG (Subclass 864)
Is Australian Government approval required?
No, Foreign Investment Review Board approval is not required.
Are first home benefits available
The Australian government’s First Home Owners Grant (FHOG) and other benefits are available for permanent residents as if they were citizens of Australia. Please refer to your state governments first home buyer website for information about which benefits you may be eligible for.
Permanent Residents with a foreign income
Income that you earn from shares, property or businesses overseas can be used to help you repay a loan in Australia. Not every lender accepts foreign income when assessing your ability to repay the debt, so please discuss this with us if it is applicable for your situation. Some lenders can even advance your loan in a foreign currency so that you face less risks from exchange rate fluctuations.
Apply for a mortgage
We are mortgage brokers that specialise in helping people without citizenship to buy property in Australia.
If you would like to buy a property in Australia and would like to know more about how we can help then please contact us or enquire online.
