This page is home loan information for permanent australian residents looking to buy a home in Australia with a temporary resident migrant. The most common scenario is in the spouse arrangement where one partner has achieved permanent residency or even citizenship while their spouse or partner has recently moved to Australia and does not have permanent residency. Perhaps your partner is on a subclass 309 or 820 visa or even a 457 working visa but most types of visas are acceptable providing one applicant is an Australian citizen or permanent resident. 

 

Most banks and home loan lenders will not lend mortgage finance where one applicant is not a permanent resident or will restrict temporary residents to a maximum LVR of 70-80% requiring a 20-30% deposit. However, where one applicant is an Australian citizen or permanent resident some lenders will lend up to 95% LVR providing the borrowers have;

 

 

*There are exceptions to the above requirements. For example, if a 10-15% deposit is available then there is no requirement for genuine savings, larger credit history problems would be considered and a probationary period may be overlooked providing strong prior industry experience. If you are renting you may also qualify for a no genuine savings spouse visa home loan.