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What Is a Non-Resident Home Loan?
A non-resident home loan is a mortgage designed for foreign investors, temporary visa holders, and expats looking to buy property in Australia. Since non-residents have different lending criteria, these loans may have higher deposit requirements and additional approval steps.
How Non-Resident Home Loans Work
Non-resident loans have different eligibility requirements depending on visa type, residency status, and country of origin. Most lenders require a minimum 20-30% deposit for non-resident buyers.
Additionally, approval from the Foreign Investment Review Board (FIRB) is usually required for non-citizens purchasing Australian property. Understanding these requirements ensures a smooth loan application process.
Who Can Apply for a Non-Resident Loan?
Non-resident home loans are available to:
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Foreign investors looking to buy Australian property
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Temporary visa holders on work or student visas
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Australian expats living overseas
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NZ citizens purchasing property in Australia
Each applicant type has different lending criteria. For example, New Zealand citizens and Australian expats often qualify for more favourable loan terms than foreign investors.
Specialist Mortgage Brokers for Non-Resident Buyers
At Freedom Mortgage Solutions, we work with over 30 lenders to secure non-resident home loans with the best interest rates and terms. We help international buyers navigate visa requirements, FIRB approvals, and lender conditions to ensure a hassle-free process.
Expert Guidance on Australian Property Finance
Understanding foreign income verification, tax implications, and loan conditions can be overwhelming. Our mortgage specialists handle all the paperwork, lender negotiations, and approvals, ensuring your home loan application is processed efficiently.
How to Get Approved for a Non-Resident Loan
Securing a mortgage as a non-resident involves meeting lender requirements, including:
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A higher deposit (20-30%) compared to Australian citizens
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Proof of foreign income, with translations if required
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Approval from FIRB (for most foreign investors)
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A strong credit history and stable income
Working with an experienced mortgage broker simplifies the approval process and ensures you meet all compliance requirements.
What Properties Can Non-Residents Buy?
Foreign investors are typically limited to newly built properties, off-the-plan apartments, or vacant land for development. However, Australian expats and some visa holders may be eligible to purchase existing properties. FIRB approval is usually required unless exemptions apply.
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FAQ
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.
Freedom Mortgage Solutions welcomes your enquiry. To book an appointment or simply ask us a question, fill in your details and we'll be in touch soon!