Home loan on a 202 visa

Any general questions you might have in regards to loans and finance.
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Otto Dargan
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Re: Home loan on a 202 visa

Post by Otto Dargan »

Hi Nico Robin. Welcome to the forums.

It's actually a bit uncommon for lenders to deal with people having a Global Special Humanitarian visa (subclass 202). However, you may still be able to qualify for a non-resident home loan here in Australia. The same goes for your partner, whose Skilled - Independent Migrant visa (subclass 175) is also an acceptable visa type.

You'll generally be limited to borrowing 80% of the property value but in some cases, it is possible to borrow up to a maximum of 90% or even 95% depending on where you're living and the terms of your current visa.

It's critical that you apply with the right bank! This way you may be able to borrow more at an interest rate that's no different from the ones that Australian citizens get.

Please note that you may require approval from the Foreign Investment Review Board (FIRB) depending on your circumstances.

Cheers,
Otto
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

User avatar
Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
Contact:

Re: Home loan on a 202 visa

Post by Otto Dargan »

Thank you for considering our services, Nico Robin. We here are Home Loan Experts specialise in non-resident mortgages and our brokers have dealt with loan applications from 202 visa as well as 175 visa holders.

You're going to love this - our services are completely free in most cases! This is because we are actually paid by the banks for bringing in loan applications that would otherwise have been brought in by one of their staff.

As long as your loan is over AUD200k, your situation isn't overly complex and you're not planning on paying it off in two years, it's unlikely you'll be charged. This way, you can take advantage of the wealth of experience and knowledge of our credit specialists and apply with the lender that's right for you.

You can discuss your situation and loan needs with one of our mortgage brokers directly by calling 1300 889 743 or if it's more convenient, you can simply complete our free online assessment form.

Cheers,
Otto
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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