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Permanent Resident Mortgage

Who is this page for?

This page is for Australian Permanent Residents (PR) who would like to apply for a mortgage to buy real estate in Australia.

If you apply with the right lender, you can get approved for a home loan just like Australian citizens! This means that there will be few restrictions on borrowing.

How much can you borrow?

  • Permanent residents living in Australia: some of our lenders will consider lending up to 95% of the property value.
  • Permanent residents living overseas: one of our lenders will consider lending up to 90% of the property value. Some may lend higher depending on the strength of your application.
  • Permanent residents with a foreign income: foreign income is considered on a case by case basis depending on the nature and source of the income.
  • New Zealand citizens: please refer to our New Zealand citizens mortgage page.

Want to get the best interest rate? Call us on 1300 889 743 or enquire online and one of our mortgage broker can help you to find a competitive home loan.

You can also apply for first home benefits such as the First Home Owners Grant (FHOG)! Read on to find out how.

Permanent residents living overseas

Although most lenders will not allow PR holders living outside of Australia to borrow, we have some lenders that consider this under their standard lending policies. However, you must be able to prove your income and in some cases you may be required to hold a Power of Attorney (POA) in Australia.

Call us on 1300 889 743 or enquire online and one of our mortgage brokers can help you find a lender that can accept your situation.

Permanent residents with a foreign income

Income that you earn from shares, property or businesses overseas can be used to help you repay a loan in Australia.

Some lenders can even advance your loan in a foreign currency so that you face less risk from exchange rate fluctuations!

However, not every lender accepts foreign income when assessing your ability to repay the debt. Please discuss this with us to find out if this is applicable to your situation.

Is Australian government approval required?

No, Foreign Investment Review Board approval is not required.

Are first home benefits available

The Australian government’s First Home Owners Grant (FHOG) and other benefits are available for permanent residents!

Please refer to your state governments first home buyer website for information about which benefits you may be eligible for.

Does it matter which immigration visa I have?

All of the below visa types are acceptable for home loans! This is because they are assessed by Australian lenders in the same way that permanent residents are:

  • Skilled – Sponsored (Migrant) Visa (Subclass 176)
  • Independent Skilled Migration Visa
  • State or Territory Nominated Independent Visa (STNI) (Subclass 137)
  • Skilled Migrant – Australian Family Sponsored Visa
  • Skilled Migrant – Regional (Designated Area) Family Sponsored Visa
  • Distinguished Talent Migration Visa
  • Independent Skilled Graduate Student Visa
  • Skilled Graduate Student – Australian Family Sponsored Visa
  • Skilled Graduate Student – Regional (Designated Area) Family Sponsored Migration Visa
  • Independent Skilled New Zealand Citizen Migration Visa
  • Skilled New Zealand Citizen – Australian Family Sponsored Visa
  • Skilled New Zealand Citizen – Designated Area Family Sponsored Visa (Subclass 863)
  • Skill Matching Scheme
  • Australian Employer Nominated Migration Visa
  • Regional (Designated Area) Employer Sponsored Visa (Subclass 857 / 119)
  • Labour Agreement Migration Visa
  • Former Resident (Subclass 151)
  • Skilled Independent Regional (Provisional) Visa (Subclass 495) – The SIR Visa
  • Graduate Skilled Temporary Visa (Subclass 497)
  • Business Owner (Residence) Visa (Subclass 890)
  • State or Territory Sponsored Business Owner (Residence) Visa (Subclass 892)
  • Investor (Residence) Visa (Subclass 891)
  • State or Territory Sponsored Investor (Residence) Visa (Subclass 893)
  • Business Talent Migration Visa (Subclass 132)
  • Established Business in Australia (Subclass 845)
  • Regional Established Business in Australia (Subclass 846)
  • Spouse or De-Facto Spouse Migrant (Subclass 309/100 – 820/801)
  • Prospective Marriage Partner – Fiancé
  • Interdependent Partner Migration
  • Working Age Parent – Class AX (Subclass 103)
  • Aged Parent Migration – Class BP (Subclass 804)
  • Aged Dependent Relative (Subclass 114 & 838)
  • Remaining Relative (Subclass 115 & 835)
  • Carer Migration (Subclass 116 & 836)
  • Resident Return Visa
  • Contributory Parent – Class CA (Subclass 143)
  • Contributory Parent – Class DG (Subclass 864)

Apply for a mortgage

We are mortgage brokers who specialise in helping people without citizenship buy property in Australia. To find out how we can help you get approved for a permanent resident mortgage, please contact us on 1300 889 743 or enquire online today.

  • MPhelps

    I hold a PR of Australia, and I currently reside and work in Dubai. Am I eligible for a home loan?

  • Hi M Phelps,

    Although there has been recent restrictions imposed on lending based on foreign income, as a permanent resident of Australia living and working in Dubai you will be considered an expat and are eligible to apply for a home loan.

  • Maxwell

    I was originally here in Australia on a 457 work visa but now I hold a PR. I’ve just completed probation working at CBA bank and I understand that they offer their staff a no LMI home loan for up to 90% LVR. I was thinking of applying directly but a friend suggested I look around for possibly better options first.

  • Hey Maxwell,

    We can do a 90% no LMI home loan for CBA staff and also do a standard pricing request. Our mortgage brokers have dealt with a lot cases like this and one of their main specialties is that they also look to the future and how your home loan will shape up and meet your goals. What this means is that although you may qualify for no LMI with CBA right now, you need to know that you will definitely want a better rate in two years or so, which the bank is less likely to deliver. There are better discounts in offer elsewhere so you can consider them too. Please call 1300 889 743 to discuss this all in detail.a

  • Ken Lim

    My name is Ken Lim. I am working as an auditor in Malaysia and will be getting my Australian PR soon, most probably in June 2016. I am planning to reside in canning vale, perth with my family. I wish to buy a house over there so that my children can study at one of primary school over there.

    I have a concern here on my loan application. Can I use my souce of income in Malaysia as part of supporting documentation to apply loan in any australian bank? Do I eligible for first home owner grant and what would be the requirement then?

    Many thanks.

  • Hi Ken,

    When you are a PR holder then from Malaysia you can buy a property however you’ll need a minimum 20% – 30% deposit. If you move to Australia then you’ll need only a 5% – 10% deposit.

    Foreign income can only be accepted in some situations. It’s quite complicated. Income from a job or rent is usually ok. Income from a business is accepted less often. We have some lenders that can use this (if you are PR) however they need a large deposit approx 30%.

    You would be eligible for a first home grant if you live in the property. You can read the full requirements here

  • Ken Lim

    Hi, my family and I will definitely move to perth upon getting the PR. It just that we wish to buy a house for before i come over. In order to get this in place, i would then need to get the loan application approved based on my income as auditor in Malaysia.

    If this doesn’t work, we have to rent a house and get a permanent job first before can buy a house. Am thinking a workable solution to address this. Thanks.

  • Hi Ken,

    Buying before your PR is granted won’t work as Malaysian Ringgit isn’t an acceptable foreign investor currency for our banks. Once you have PR we can get you approved even if you haven’t yet moved to Australia.

    I totally understand why you’d want to buy rather than rent, looking for a new house twice and moving house twice would be a big waste of time.

  • Ken Lim

    Hi, thanks. I have a clearer picture now. That’s mean I can still apply the mortgage loan with australian bank based on my income in Malaysia so long I am PR. In addition, is there a requirement for PR to stay within 12 months if I do NOT opt for the first home grant? What would be deposit requirement then? Thanks.

  • Hi Ken,

    If you decide to buy an investment property in Australia (i.e. not move into the property within 12 months) then the deposit size may vary. We’d need a full application from you to confirm this. Typically you could borrow 70% to 80% of the property value due to the currency you earn not being one that Australian banks prefer.

  • angie ng

    Hi, I’m Australian PR under visa subclass 189 together with my family. We are planning to move to Perth next year. I’m self employed in Singapore currently. May I know the housing loan requirement/documents to purchase a property in Australia?

    Kindly advise. Hope to hear from you soon. Thank you.

  • Hi Angie,

    For Singapore we’d need your last two years financials, two years tax returns, your last two years notices of assessment (from IRAS), bank statements showing that your business is trading as well as other standard documents such as identification. Both us and the lenders have extensive ID and income verification processes so expect to provide more documents than the minimum and for the lenders to ask for more as well.

    Alternatively as a PR holder you may qualify for a low doc loan on a case by case basis We’ve done a few, tax returns are not needed but bank statements and an accountants letter are likely required. If you’d like our help then please complete our enquiry form

  • Bharat Sethi

    Hi, We are an Indian national family 2 adults and 2 Kids, Both of us are working in the UK for last 4 years on Tier 2 Visa. We have been granted Australian PR under subclass 189. We are planing to move for good next year in Feb. Can you please suggest what all documentation should we carry with us while moving to Australia that can help us to apply for loan?

    Also, we have very good credit score in the UK, does it help in getting loan at all?


  • Hi Bharat
    Evidence of your rental payments in the UK, 2 payslips ftom the UK, a copy of your visa and three months statements for your savings would be helpful.

    You can buy before you arrive or when you arrive as long as you have a job in Australia.

  • Godfrey

    Hi, I’m Australian PR. I’m self employed in China currently. I heard that all banks are restricting home loan for oversea investors and all oversea incomes does not count for repaying the loan. Is it true? If not, which bank do you recommend?


  • Hi Godfrey

    We can assist however there will be extensive income verification requirements and you may pay a higher rate than usual due to being self-employed in China. We only have a small number of lenders that can assist in this situation.

  • Aadil Arshad


    I am a citizen in Australia and trying to buy a property along with my friend who is Permanent residence and overseas he will be contributing to repayments and I want to buy it as a first home as well.Will that be possible to do.

  • Hi Aadil,
    We’d need to know a little more info, however indicatively we can assist.
    We can assist:
    – Aus citizen + Aus PR living outside of Australia
    – Aus citizen + Aus PR living in Australia
    – Aus citizen + foreign citizen with no visa living outside of Australia
    So it is likely we can help.
    In terms of the property being your first home this is fine for the banks. As for the any first home grants normally as long as one owner lives in the property for at least six months commencing within the first twelve months then this is ok to receive grants. You’d need to check with your state government to be sure.
    If you’d like our help then please fill in this form

  • Elizabeth Huang

    Hi, I have Australian PR and I am currently working in Sydney, my bf (non AU citizen nor PR) works in the U.S. with working visa, I am wondering if we buy a house, will Australian banks take his income so we can get a loan together? If not, can we put both of our names on the house but just use my income to get the loan, in that case will we need more deposit? Thanks!!

  • Hi Liz,
    We love a challenge! The easiest option is to buy a property in your name and to have the loan in your name as well.
    – You’ll avoid paying foreign citizen stamp duty (4% extra in NSW, x foreign citizen owns 50% i.e. $20,000 on a $1,000,000 property).
    – You’ll avoid paying $5,000 FIRB approval fee
    – You’ll have more lenders to choose from as a PR holder.

    We can do loans for a PR holder + foreign citizen however the banks would be suspicious that your relationship is not genuine OR that you plan to move to the USA and leave your job. In particular it would be fine if he was living here on a partner visa or some other temporary visa. We could then use his income easily and you could borrow.

    So I’d recommend you buy in your name OR wait for him to move here and buy in your name but with both of you on the loan.

    Please call us on 1300 889 743 if you’d like our assistance. Ask for a broker who specialises in PR holders and you can come visit our Sydney head office (Rhodes) if you would like an in depth discussion.

  • Bjhan

    Hi, I am Australian PR on Victoria State Sponsorship ( 190 Visa ). I lived in Melbourne on PR status for 16 months due to some personal problems I have been shifted to my home country Pakistan. I’ll return to Victoria exactly after two years. I have two kids and wife ( total 4 persons). I am regular tax payer in Australia. I have started job in my home country, now I want to buy a home in Victoria ( Melbourne area) before moving there. what will be the my situation in getting loan from Australian Banks and first home buyer. I want to show my Pakistani income to buy home. What documents will be required and what will be the procedure.

  • Hi Bjhan
    Yes we can assist with this as long as you are borrowing 70% or 80% of the property value and your income in Pakistan is sufficient to pay the home loan in Australia.
    If you’re borrowing more than 80% of the property value then you’d need to be paid in a major currency such as USD, Euros or AUD for us to get you approved.
    Once you’re in Australia you can easily qualify.
    In most cases first home benefits require you to move into the property within the first 12 months. You should check with the VIC government to be 100% sure regarding all of the benefits
    If you’d like our help then please click here

  • Baljeet

    I am an Australia PR holder and currently working in Sydney. I am planning on to buy a house in Sydney suburbs. Provided I hauve moved to Australia 4 months back, what are possibilities of me getting a home loan and how much percentage I can expect to be financed by the banks.

  • Hi Baljeet,
    Yes you should qualify, you don’t need FIRB approval and you wouldn’t pay additional stamp duty as you’re a permanent resident.
    You can borrow 95% of the property value. The main concerns from a lenders point of view would be if you are on probation at your job and if you have 5% of the purchase price saved in a bank account in your name that has been yours for at least 3 months
    The good news is that both of these are not an issue for some lenders so it’s likely you’d qualify now.
    Please contact us and our team will confirm if you’re eligible and if not they’ll let you know what you need to do to be eligible in a couple of months time

  • Sean

    As a permanent resident who has been here for 15 yrs in Tasmania I’d like to buy a home. I was previously married and bought a house jointly with my Australian wife at the time but she wasn’t eligible for the first home buyers grant as she had previously bought a home with a previous marriage

    We are now separated, I’m on my own and want to know if there is any way to qualify for the first home owners grant as I wouldn’t have qualified at that stage being that I was only a temporary resident at that time or are there other ways to get some assistance?

  • Hi Sean
    If the property you bought before was a home then it’s unlikely that you’d be eligible. I’d recommend you call the TAS State Revenue Office on (03) 6166 4444 to double check.
    As a PR holder we can assist you to get a loan through several banks if you’d like our assistance.

  • Sean

    I have checked with them and apparently because it was a joint home/property I would not qualify.

    Was hoping there might be other schemes available to permanent residents as I currently have %5 saved up I’m at the low end of how much I can borrow are there ways to get a break on stamp duty etc????

  • Some of our lenders allow a personal loan to be used to pay for stamp duty. It’s only suitable if you have a high income and few debts.

  • Sandeep Singh

    Hi , I and my wife migrated to Australia on a permanent visa(subclass 190) 10 months back .we stayed in Canberra for 9 months and now moved to Sydney a month back. we both looking for jobs and I am also doing part time studies. I have rental income from India in my name and therefore have rented an apartment for 13 months in Paramatta.
    If I borrow some money from my parents for deposit of 20% -25% , and demonstrate that i have money to pay for my loan emi on my Indian rental income, can i get a loan and if yes at roughly what range ? It would be my first home in Australia.
    guidance would be appreciated.

  • Hi Sandeep,
    We can use foreign rental income in some situations, however it’s likely that you would need to start in your new jobs before we can get you approved. That’s because the way that banks assess your borrowing power is actually quite conservative.
    We can help even if you are on probation at your new role. Please contact us and we’ll stay in touch ready to get approved when you have found a job.

  • Haseeb Shaikh

    Hello Team,

    I am an Indian Citizen and does not have an Australian PR, Can I buy a property in Australia with someone who has an Australian PR? If I can, then will this allow me to get an Australian PR?

  • Hi Haseeb
    Owning a property in Australia is unlikely to help with getting PR. You’d need to call the department of immigration if you’d like to know about that.
    If you’re a temporary resident then yes you can buy a property on your own. If you’re a foreign citizen then you can buy an investment property in Australia as long as it meets FIRB approval criteria

  • KJ

    I have arrived here in Australia with the help of an INGO and I am on a 204 visa. I was told that this is a permanent resident visa and I am just wondering for now if the above truly do apply to me or not. I will not be buying anytime soon I think so I am just planning.

  • Hey KJ,
    Yes, the above policies do apply on a 204 visa. You can continue checking out our webpages to research more. If you have any more queries or you’d like to discuss things directly with a 204 visa home loan expert, please feel free to contact us on 1300 889 743.

  • BVZ

    If I have a 190 visa for NSW and I immigrate to NSW but still work for a foreign employer as a project consultant, would my remuneration be considered for a mortgage?

    Would it make any difference if I were remunerated in Australian dollars vs the foreign currency?

  • Hi
    It depends on if you’re self employed or a PAYG contractor. Being paid in AUD is better and allows us to choose more lenders. The ideal is that you’re living in Australia and earning AUD. The company can be foreign and we have helped a few people who have well paid consulting jobs in Asia who live in Australia and these were approved despite being paid in USD as they had a good deposit size. As a general rule if you’re borrowing 80% or less of the property value then the income may not need to be AUD.
    Overall we need to know the full details as this kind of situation is complex and case by case.

  • Maajed

    I am an Indian Citizen and have an Australian PR (SKILLED INDEPENDENT SUB CLASS 189), Can I buy a property in Australia with my income proof in India. I am a partner in a business and also withdraw a fixed remuneration from a company.

  • Hi Maajed,
    Foreign business income is usually not accepted unfortunately. If you have employment in Australia this is usually the best way to get approved.

  • Maajed

    Any alternative way to get a loan if i am willing to pay 40% amount as my share…

  • Hi Maajed,
    Potentially you may qualify for a low doc loan however they don’t normally accept income from a foreign business. We may need to go with a more expensive lender to get approved.
    We’d also need to be comfortable with meeting our obligations under the NCCP act and confirming that you can afford the repayments.