Permanent residents living and working in Australia are treated like Australian citizens so normal bank lending policy and criteria applies.
However, when the permanent resident visa holder is living abroad they are treated by most banks and lenders as foreign nationals and therefore a maximum LVR of 80% applies requiring a 20% deposit or more. Many lenders will simply refuse to lend to foreign nationals living overseas regardless of their permanent resident status.
However, Australian permanent resident visa holders living overseas can secure home loan finance up to 90% with LMI capitalised providing;
1) 5% genuine savings are evident,
2) Clean credit history with no bankruptcies or defaults whatsoever,
3) Income sufficient to afford repayments while maintaining current commitments,
4) Positive asset position - that is, your combined asset value outweighs your liabilities,
5) Earning a currency acceptable to the lender.
While most lenders will not approve your home loan due to their lenders mortgage insurer requirements, MAP has access to 1-2 lenders that will assist permanent resident visa holders with a home loan to 90% at normal home loan interest rates.