Even though you’re an Australian expat living in the US, you’ll be treated just like a normal Australian resident and this means that as long as you’re able to meet standard lending requirements, you may be able to borrow up to:
- 80% of the property value - If you’re unable to provide acceptable documents that can prove your foreign income then you may not be able to borrow more than 80% of the property value.
- 90% of the property value - If you can prove that you’re in a strong financial position then a select few lenders may be able to lend you up to 90% of the property value or more in some cases.
- 95% of the property value - If you can prove that you’re in a strong financial position, you have a high income and stable employment then some lenders may lend you up to 95% of the property value. You’re eligible to borrow at this amount even if you have dual citizenship or you’re married to a foreign citizen.
- Your last two most recent payslips.
- Your last two year’s tax returns.
Some lenders may not offer you the same interest discounts but you may be able to negotiate a discount that’s way below the Bank Standard Variable (BSV) rate. However, if you can’t prove your foreign income then you won’t be able to get a lower interest rate.
Cheers,
Otto