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.
Home loan for permanent resident!
Re: Home loan for permanent resident!
I have a similar question - i'm a citizen, but my partner is only a permanent resident - would this affect our mortgage application?
- Otto Dargan
- Mortgage Specialist
- Posts: 7730
- Joined: Sat Sep 06, 2008 5:55 pm
- Location: Sydney, Australia
- Contact:
Re: Home loan for permanent resident!
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.
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.