What home loan documents will you need?

Have you just arrived in Australia on a working visa? Or maybe you’re living overseas and considering purchasing property in Australia?

Since the Australian government recently changed and rolled back its foreign investment laws, there’s never been a better time to get into the property market down under!

Use the following as a guide to ensure that you have the right documents prepared when applying for an Australian home loan.

If you are living in Australia

Your broker will require:

  • Evidence of your visa.
  • For New Zealand citizens, a copy of your passport.
  • For an Australian citizen applying with a temporary resident, a copy of your marriage certificate (if married).
  • For 457 visa applicants, we may ask for a custom employment letter to show the lender that your employer is willing to extend your visa and/or sponsor you for permanent residency.

If you are living overseas

The bank will need to see:

  • For Australian expats, a copy of your Australian passport.
  • For foreign investors, a copy of your passport.
  • The bank will also require foreign income evidence. Although this varies from lender to lender, you will typically be asked to supply your two most recent payslips and potentially three months of bank statements to show your salary credits.
  • If you’re self-employed, in most cases you’ll need to prove your foreign income with copies of your last two years tax returns. Alternative income verification options are available.

Evidence of your visa

The requirements for providing evidence of your visa vary between lenders. Some of them only require an email from the Department of Immigration and Citizenship confirming your visa approval.

Others may only require a photocopy of the stamped page of your passport.

A few lenders may ask for further evidence, specifically, a custom employment letter verifying that your employer is willing to extended your visa or assist you to apply for permanent residency.

Speak to one of our expert brokers by calling 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our online form for a free assessment. Our brokers will be able to tell you what visa evidence you will need to provide for your application.

Significant investors

If you’ve arrived in Australia on a Significant Investor visa, a stream that recently came into effect within the visa subclasses 188 and 888, you may be wondering what documents you’ll need to provide when applying for a residential or commercial property loan.

Because of the significant investment you’re making to complying Australian investments, the government is able to waive certain visa requirements that would normally apply to migrants.

However, lenders will still require certain income evidence when you come to apply for a home loan in Australia, including:

  • If you have an overseas business, you will need to provide evidence of your foreign income.
  • If you’re a full time investor then the income received from new Australian assets can be used to prove that you can afford the loan.

For more information on the requirements of the Significant Investor visa and when you are eligible to invest in residential and commercial real estate in Australia, read our blog.

We’re experts in lending to high net worth foreign investors.

Please call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) to discuss your situation and investment plans with one of our senior mortgage brokers. Alternatively, please fill out our free assessment form.

Evidence of FIRB approval

Although it will help to strengthen your loan application, you do not need Foreign Investment Review Board (FIRB) approval in order for your home loan to be approved.

However, you do need to provide evidence prior to your loan being advanced. Once the FIRB approves your application, they will notify your solicitor that you are now eligible to receive the funds for the property purchase.

Download non-resident borrower checklist

Non-residents’ Checklist

Do you need help providing your documents?

If you are a non-resident and want to buy a property in Australia, please call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or fill out our free assessment form. One of our expert mortgage brokers can tell you what documents you will need to prepare based on your specific situation.

Sometimes, traditional documentation requirements can be waived because we have strong relationships with the credit departments of the major banks and lenders. We know the decision makers so we can get tough loans approved quickly and without hassle.

Go to our non-resident loans page to learn more about requirements for specific types of non-resident finance.

  • Garland

    I’m a foreigner living overseas and working PAYG so aside from payslips and bank statements, what other documents can be accepted by Australian banks?

  • Hello Garland,

    Aside from your payslips and bank statements, banks can also accept a letter from your employer, a copy of your employment contract or tax returns for the last financial year.

  • kyle

    My financial documents are in Russian. Will they need to be translated to English?

  • Hey kyle,

    Most lenders will require that documents be written in English so you may need an interpreter’s certificate. The translation must be through a recognised organisation that has the authority to do so. However, some of our lenders have special teams that can assess foreign language documents. Our mortgage broker are also able to organise an authorise translator to translate your documents.

  • Mackenzie

    What are the foreign currency loan requirements here in Australia?

  • Hi Mackenzie,

    Any foreign currency loan must adhere to all standard Australian lending criteria including proof of income, serviceability and Loan to Value Ratio (LVR). Additionally, there are number of measures that overseas buyers also need to conform to: the currency of the loan must match the currency of your income, real estate used as security for an Australian home loan must also be situated in Australia, and foreign investors require Foreign Investment Review Board (FIRB) approval.

  • Stawart

    Was thinking of going 85% on an investment loan. Are there any interest rate discounts available on these?

  • Hey Stewart,
    Yes, compared to a 90% investment loan, more lenders are likely to offer interest rate discounts. Despite having a 15% deposit, you may be required to meet some additional requirements to qualify. These additional lender requirements generally include having complete documentation of all your income and assets (full doc financials), a stable housing history meaning you must not have moved house on a regular basis and evidence of genuine savings.

  • Malk W

    What are the different costs involved when buying property in Australia?

  • Hi Mark,
    There are 2 main categories of the costs involved in buying a property in Australia. The first is government fees such as stamp duty, and the second is additional costs such as conveyancing costs. Please try out the purchase costs calculator to find out about the costs you’ll likely need to pay. The page also contains additional info that you may find quite helpful. Here’s the link: