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.