An Australian expat looking for a home loan

Any general questions you might have in regards to loans and finance.
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Otto Dargan
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Re: An Australian expat looking for a home loan

Post by Otto Dargan »

Hi Rushma,

Welcome to the forums.

Australian citizens living overseas can borrow up to 90% of the property value.

Since you earn in United State Dollars (USD), there is a good chance that we will be able to get you approved for a home loan.

Please note that you’ll still need a 10% deposit in genuine savings plus extra funds to cover property purchasing costs including stamp duty, legal fees, mortgage set up costs and Lenders Mortgage Insurance (LMI).

Please call us on +61 2 9194 1700 or complete our free assessment form and we can tell you if we can get you approved.

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: An Australian expat looking for a home loan

Post by Otto Dargan »

Hey Rushma,

You will need to provide your most recent first payslip and a letter from your employer.

Most lenders will also require three months bank statements that show your salary being deposited into your account.

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: An Australian expat looking for a home loan

Post by Otto Dargan »

Hey Rushma,

Unless you can’t provide evidence of your foreign income, you don’t need to worry about paying a higher interest rate.

And you can borrow up to 110% of the property value with no deposit and no Lenders Mortgage Insurance (LMI) if your parents own a property in Australia and they’re in a position to act as a guarantor for your home loan.

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

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