This page is for people who have recently moved to Australia or who will be migrating to Australia in the near future and would like to know more about how to apply for an Australian home loan.

Financing your new home

New migrants to Australia are often unsure of how to go about financing the purchase of their home in Australia.

The amount you can borrow depends on your residency and visa status with the Australian Department of Immigration and Border Protection:

Australia is different!

Even migrants from the USA and UK are quite shocked to find how different applying for a home loan in Australia is.

Although culturally we are quite similar, our banks are more conservative and disorganised than those in other first world countries.

Expect your loan application to take longer and for more documents to be required than for a loan application overseas.

What loans are available?

There are several lenders with specific new immigrant mortgage products, known as “non-residents loans,” which allow you to borrow up to 80% of the property value and in some cases even up to 95%.

Our mortgage brokers specialise in helping new immigrants to apply for a home loan to buy a property in Australia.

Please call us on 1300 889 743 or enquire online to find out how we can help.

What is the qualifying criteria?

The assessment criteria for an Australian mortgage are incredibly complex and vary significantly between lenders. However as a general rule, lenders look at several aspects of your loan application:

  • Serviceability: Your ability to repay the proposed debt based on your current income, living expenses and the repayments of any other current debts.
  • Foreign currency: Only a handful of currencies are accepted by the bank and those that are will see your income “shaded” when the bank assesses your income position.
  • Security: The value and saleability of the property that you are giving to the bank as security for your loan. In most cases this is the property that you are buying.
  • Credit history: Your credit history in Australia (see below for information about your overseas credit history).
  • Employment: The stability of your employment, the industry that you work in and your history of work in that industry, both in Australia and overseas.
  • Visa status: The type of visa that you are on, the conditions of your visa, and the implications this has on your ability to remain in Australia and repay your loan.
  • Asset position: Your assets and liabilities are assessed and compared to your level of income and age.

The Australian property market and financial system work quite differently to most countries so it is essential that you seek the assistance of a good mortgage broker and a conveyancer.

What if I have bad credit overseas?

We are often asked by US citizens if their credit history in the USA can be accessed by Australian lenders.

Although there are a few exceptions, in most cases Australian lenders cannot access your overseas credit history. Some lenders may ask for evidence of your overseas liabilities and bank accounts so that they can see the way that you manage your money.

Can I still get approval?

In most cases there is no need for you to build a credit history in Australia prior to applying for a home loan.

That being said if you apply for too many loans in a short period of time then this will damage your credit score with many lenders.

This includes applications for home loans, credit cards, personal loans and other forms of credit.

Naturally, any negative or bad credit history that you have obtained in Australia will be visible to, and assessed by the Australian banks.

We recommend that you pay all of your bills and debts on time, every time, to ensure that you do not have this problem.

Can I get good interest rates?

Whilst some lenders have stricter lending criteria and offer expensive interest rates, we know of major banks that offer great rates and competitive loan packages.

If you are a recent immigrant to Australia or are thinking of migrating and would like to get a loan with cheap interest rates please call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or enquire online and we can help you get approval.

Who migrates to Australia?

Net Overseas Migration (NOM) in Australia is made up of natural birth,s plus new migrants, less people leaving Australia.

In recent years this figure has varied between 180,000 people per annum to 315,000 people per annum, largely due to fluctuations in the number of arrivals.

Around 29% of the arrivals are people intending to move to Australia permanently, 65% are temporary residents such as international students, 457 visa migrant workers and people on a working holiday, while 6% are Australians returning from living abroad and New Zealand citizens emigrating to Australia.

Apply for an immigrant mortgage

Before applying for your loan you should read our buyer’s guide page and the relevant page for your residency status (e.g. temporary resident, permanent resident, foreign citizen living overseas or Australian citizen returning to Australia).

Once you have determined that you may be qualified for a loan then enquire online or contact us via phone on 1300 889 743 or +61 2 9194 1700 from outside Australia between 9am and 5pm Sydney time (GMT +10) and one of our consultants will discuss the various options with you.

Please note that we work with customers located anywhere in the world, as long as the property being used as security is located in Australia.

  • Jacob

    Hi, I’m from US and have a couple of investment properties in Sydney. Now, I want to move to Australia and stay at one of the property at Rockdale. Can I get the owner occupied rate in place of investment rates?

  • Hi Jacob,

    You may change the investment rate to owner occupied rate once you move to the property.

    I would recommend you to speak to our brokers who will be able to help you change the rate within the same lender or refinance to a lower owner occupied rate.

  • Salman


    We are moving from dubai on PR we do not have any job yet in Australia but want to mortage a home
    How it will work
    We have savings to make down Payment

  • Hi Salman,
    You’ll need to show that you can afford the loan in order to be able to buy a property as this is a requirement under Australian law. Once you have a job in Australia then we can help you to get approved. Some lenders will not accept you while you’re on probation however we have several who can help.

  • McGillacutty

    How is the policy regarding home loans for those on a 457 visa?

  • Hi McGillacutty,

    You can check out the 457 visa home loan page to learn about the different bank policies and credit criteria concerning 457 visa holder who would like to get an Australian home loan. It’s got all the info you need and if you want to learn more, please feel free to contact us or comment on the page itself. Here’s the link to the page:

  • Matheson

    I’m planning on moving to Australia soon. I’m an IT consultant and I’ve already got some projects in mind once I reach there. I also want to buy a house there but when is not sure. Can you help me learn a few basic things about how the home loans here function?

  • Hey Matheson,
    Obtaining a mortgage in a foreign country can be hard, and research itself can be difficult too. Often there is too much information available, and it can be spread out thinly in many different places. We understand your predicament and so have created a page for anyone who may not be familiar with home loans down under. Please check out the Australian mortgages page to learn about how things are done here:

  • RuthST

    I only recently arrived here in Australia and I was thinking of applying for a home loan once I complete probation on my new job. The thing is, I don’t have a credit history so will that prevent me from acquiring a home loan?

  • Hello RuthST,

    Actually, you can still get a home loan without a credit history as there are some banks and lenders that can still be willing to lend. However, it’s often easier if you take time to build a credit history rather than apply without one. Please check out the no credit history home loans page to learn this in detail:

  • Jordan Helgeton

    I currently posses a partner visa (subclass 820). My wife and i want to buy a house. she is a natural born Australian. Will we be required to pay the Foreign Citizen Stamp Duty of 4%?
    i should be granted the permanent partner visa on the 14th of November 2017.