Yes, it's not very difficult for a 457 visa holder to get a home loan in Australia. However, unfortunately, not everybody can qualify. Lending policies here are generally complicated and they vary from lender to lender.
If you can meet the following requirements, you’re likely to get approved:
- Your have at least a year remaining on your visa.
- Most of your savings are already in Australia.
- You have a stable job in a sought after profession.
Note that even if you're a foreign citizen residing in Australia on a working visa, you don't have to worry about paying a higher interest rate than Australian citizens or permanent residents.
In fact, some of our lenders offer significant discounts and rates below the Bank Standard Variable (BSV) rate if you’re borrowing enough to qualify for a professional package. If you’re applying for a smaller amount then you can still qualify for a competitive basic mortgage.
You can benefit from using a mortgage broker rather than the bank directly because so do check out our website to learn more about this as well as to find out more on 457 visa home loans. We can also be reached on 1300 889 743 or you can fill in our free assessment form to see if you qualify for a loan or not.
Cheers,
Otto