If you’ve just arrived in Australia or have been living here for a number of years on a working visa you may be wondering if you are eligible for a home loan.
In the info graphic above, we’ve laid out the facts and dispelled the myths about Australian mortgages and how non-residents may be eligible for the same offers and discounts as Australian citizens.
Here’s what else you probably didn’t know:
- It doesn’t cost you a cent to speak to a mortgage broker
- You don’t need to be an Australian citizen to apply for a mortgage
- Temporary residents can borrow up to 95% of the property value depending on their visa
- 12,025 foreign purchases of real estate are approved each year, according to the Foreign Investment Review Board Annual Report 2012-13.
- Almost half of all new home loans in Australia are originated by a mortgage broker, according to March quarter figures from the Mortgage and Finance Association of Australia.
If you’re thinking about getting into the property market down under, please call us on 1300 889 743 or make a free, no obligation online enquiry.
Our expert mortgage brokers are credit experts who can answer all of your questions and find a home loan that best meets your financial needs and saves you thousands of dollars in the process.
Learn more about non-resident mortgages.