Non-Resident Home Loans In Melbourne

Yes, non-residents can buy property in Australia, but they typically need FIRB approval unless they are an Australian expat or NZ citizen. Foreign investors are usually restricted to new builds or off-the-plan properties, while certain visa holders may have additional purchasing options.

Most lenders require a minimum 20-30% deposit for non-residents, as foreign buyers are considered higher-risk borrowers. Some lenders may offer lower deposit options for Australian expats or NZ citizens, depending on financial circumstances and income verification.

Foreign investors and temporary visa holders must obtain FIRB approval before purchasing property in Australia. FIRB approval is not required for Australian citizens, permanent residents, or NZ citizens buying property. Application fees and restrictions apply, depending on the property type and value.

Lenders assess foreign income using exchange rates, tax rules, and income stability criteria. Some banks only accept income from certain countries, while others may apply "shading" policies, reducing the amount of foreign income considered for borrowing purposes. Providing translated income documents and working with a mortgage broker improves approval chances.

Interest rates for non-resident home loans vary by lender and borrower type. Foreign investors typically face higher rates due to lending restrictions, while Australian expats and NZ citizens may qualify for standard home loan rates. Comparing lenders ensures you secure the best available rate.