Can a non-resident get a home loan in Australia?

Yes. Some lenders specialise in offering products specifically designed for non-resident borrowers.

What are the requirements for getting a non-resident home loan?

Non-resident home loans follow special lending parameters. Other than income considerations, some of the factors in non-resi loans are the type of visa you are holding and the property you want to purchase.

Can non-residents get an investment property loan?

Yes. Non-residents may get a foreign investor loan in Australia.

Are interest rates different for non-resident loans?

Rates differ for every type of loan. Your broker may help you get a better negotiating power if you qualify with multiple lenders.

Can non-resident borrowers qualify for government schemes?

The first requirement to qualify for a government scheme is to be an Australian citizen. However, in 2023, the Home Guarantee Scheme was extended to include permanent residents.

Non Resident Home Loans In Australia

Personal Loans for Non Residents in Australia

Non resident home loans are an Abacus Finance specialty. We’ve partnered with 105 banks and lenders to achieve the very best outcomes available to you. Fortunately, some of these lenders niche in personal loans for non-residents in Australia and understand that living in a foreign country has its own set of challenges. It can get expensive, and the cost of relocating is also not cheap.

However, not all can apply for non-resident loans in Australia. Lenders have eligibility criteria that you have to meet to be able to qualify for a home loan without permanent residency.

Most banks and lenders might see you as a risk because there is a possibility that you may not be able to pay off your loan when your visa expires. Your visa can also get cancelled even before the intended expiry. This is why you will be required to meet additional eligibility requirements, and you may also have to pay a higher interest rate.

SPEAK TO AN EXPERT

Home Loans Without Permanent Residency

Getting a home loan without permanent residency can feel very limited or almost impossible if you're not working with Abacus. Compared to Australian residents, you will have limited lenders to choose from for your home or personal loans. Moreover, since you are in a foreign country, you may not be as familiar with all the banks and lenders that specialise in helping foreign investors. Abacus Finance is connected with a network of 105 reputable banks and lenders. Our mortgage brokers will help you work through the red tape, and secure a property here in Australia. Whether you are residing in Australia or living offshore, we can help you in your property buying journey.

Top interest rates

Access non resident home loans with the best interest rates available in Australia. Getting a Home loan without permanent residency does cost more, but we'll reduce all costs, where possible.

Professional Service

Abacus Finance does not charge you any direct fees for our mortgage brokerage service. Our aim is to provide home loan products that can't be beaten by any other broker or lender.

105 Lenders & Loan Services

Our professional Mortgage Brokers can access many loan products, including private lending, 3rd tier lenders and banks, and building societies for people who don't always fit the norm.

Multi-Lingual Services

If you're searching for non resident home loans, there's a high chance that English isn't your first language. Our office has employed brokers that are multi-lingual, so you can speak to our staff members in your first language.

Requirements for Non Resident Home Loans

Since you are now in Australia, there are several requirements for non resident home loans that you need to consider. First, your credit history in your previous country will not be considered, making it difficult to even finance a simple iPhone. You have to prove that you have the capacity and reliability to repay the amount that you will borrow for even the smallest amounts. However, all lenders are different, so reach out before getting an application rejected, because this all counts towards your credit rating and we can easily match you with the right lenders for a personal loan for non residents in Australia.

Requirements for non-resident home loans, & personal financing include:

Proof of employment. In some cases, you have to be employed in certain professions.

Proof that you have an Australian bank account.

Proof of cash savings that are traceable

A cash deposit that's traceable. It's often higher than the norm for non resident home loans

A Hassle-Free Application Process

The mortgage application process can get complicated at times even for Australian residents. It will even be more difficult for non-residents and temporary residents to be granted a home loan without permanent residency.

Since you will be subject to more requirements and limitations, you will need knowledgable property finance brokers to guide you through the process. For instance, overseas property buyers sometimes find that they need to make a bigger cash deposit than Australian residents when purchasing residential real estate or commercial property. Our specialist mortgage brokers will help you find a non resident loan that will work for you and will match your financial capacity.

Abacus is committed to helping you with all the needed documents and submitting your application for non-resident home loans in your behalf. Once we have your details, all you need to do is sit back, relax, and wait for your loan approval.