Non-Resident Mortgages

Looking to buy property in Australia while living overseas or holding a temporary visa?

A non-resident home loan could be your key to entering the Australian market, even if you’re not a citizen or permanent resident.

Thousands of Australian expats and foreign investors secure non-resident home loans each year to purchase their next investment or future home. With the right guidance, you can too.

In this guide, we will explain how non-resident home loans work, who can qualify, and how to apply for them.

What Is A Non-Resident Home Loan?

A non-resident home loan is a mortgage for people who live outside Australia or are not Australian citizens or permanent residents. This includes foreign nationals, temporary residents in Australia on certain visas, and Australian expats.

It differs from a standard home loan because lenders view non-residents as a higher risk, so they apply stricter lending rules, request more documentation, and often reduce borrowing capacity.

Before applying, read our guide on how to buy property in Australia for non-residents, then familiarise yourself with the investment rules for foreign buyers. Depending on your visa type and purchase intent, you may also need approval from the Foreign Investment Review Board (FIRB).

How Do Non-Resident Home Loans Work?

Non-resident home loans are similar to standard home loans in terms of structure and features. Borrowers can access options like redraw facilities, offset accounts, and flexible repayment schedules. Loan terms can reach up to 30 years, and the minimum loan amount is typically $100,000.

The approval process involves added checks, however, including FIRB approval, stricter documentation requirements, and larger deposit thresholds. Lenders evaluate your residency status, visa type, and foreign income carefully, often converting overseas earnings to Australian dollars and applying a risk buffer to account for currency fluctuations.

Depending on the lender, you may also be able to apply for construction loans or receive professional discounts.

Foreign income mortgage calculator

Discover if the bank will accept your foreign income

What Are The Pros And Cons Of Non-Resident Home Loans?

Pros

• Some non-residents (like Aussie expats) may be eligible to borrow up to 95% (inclusive of Lenders Mortgage Insurance) of the property value.
• Some lenders offer specific loan solutions for non-residents, including foreign income verification, multi-currency support, and interest-only loans.
• Buying in Australia as a non-resident allows you to benefit from long-term property value increases in a stable market.

Cons

• Most non-residents need FIRB approval, which adds time, paperwork, and possibly extra costs to the process.
• Not all Australian lenders offer mortgages to non-residents, which can limit flexibility and choice.
• Proving foreign income and assets can be more complex, especially if it’s in a less commonly accepted currency or one that lacks local equivalents.

Who Can Qualify For A Non-Resident Home Loan?

Here’s a breakdown of who can qualify:

• Australians living abroad
• Permanent residents (PR) living overseas and New Zealand citizens
• Temporary visa holders, including 457, 482, 485, 820, 309, and other long-term visas.
• Foreign citizens living overseas

Each group may be subject to different LVR limits, interest rates, and documentation requirements.

General Requirements For All Non-Resident Applicants

• You must be 18 years or older.
• Valid passport, visa and ID card
• Proof of stable income (local or foreign)
  • Income must generally be from a strong currency country (e.g., USD, GBP, EUR). Some lenders accept overseas payslips, accountant letters, or tax returns.
• Clean credit history
• FIRB approval (for most foreign buyers and temporary visa holders)
• In most cases, lenders require a deposit of 30% to 40%, particularly for foreign nationals.
• Supporting documents like foreign income, asset statements, and savings history.
• Most lenders require the property to be in a Category 1 or 2 postcode.

How To Apply For A Non-Resident Home Loan

The first step is to speak with a specialist mortgage broker who understands non-resident lending. Since not all lenders accept non-resident applications, a broker can help match you with the right lender based on your individual circumstances.

The first step is to speak with a specialist mortgage broker who understands non-resident lending. Since not all lenders accept non-resident applications, a broker can help match you with the right lender based on your individual circumstances.

Next, your broker will assess your borrowing power and walk you through your loan options.

You’ll then provide a few key documents, such as your passport, visa (if applicable), proof of income, and evidence of your deposit. If FIRB approval is required, we’ll guide you through that process, too.

We’ll handle the application, work directly with the lender, and support you through to approval and beyond, so you can stay focused on finding the right property.