Home loan for permanent resident!

Any general questions you might have in regards to loans and finance.
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Garry
Posts: 53
Joined: Wed Aug 12, 2009 12:22 pm

Home loan for permanent resident!

Postby Garry » Wed Mar 31, 2010 9:22 am

Hi,

I just got my PR, I'm wondering if it's possible to get a home loan?
do I need to be a citizen?

Thx.

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otea
Posts: 65
Joined: Wed Mar 31, 2010 10:35 am

Re: Home loan for permanent resident!

Postby otea » Wed Mar 31, 2010 10:37 am

I have a similar question - i'm a citizen, but my partner is only a permanent resident - would this affect our mortgage application?

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Otto Dargan
Mortgage Specialist
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Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
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Re: Home loan for permanent resident!

Postby Otto Dargan » Wed Mar 31, 2010 11:28 am

Firstly congratulations on getting PR! I've heard the Australian Government is making it a nightmare to get these days.

There is no legal, government or bank requirement for someone buying a property in Australia to be a Citizen. If you are a permanent resident then you should not have any trouble getting approval for a home loan. Generally it is only people who do not have permanent residency (i.e. foreign citizens living in Australia on a temporary visa or work visa) that have restrictions on what they can buy and how much they can borrow.

As a permanent resident you will receive the same discounted interest rates & fees available for Australian Citizens when they apply for a mortgage.
Otto Dargan
Mortgage Broker
P | 1300 889 743
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