# Home mortgage



## syed74 (Oct 4, 2009)

I have Aus residence visa . Is it possible to have home mortgage straight away after landing in Australia, while never spent more tahan a month in Aus


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## mr.brightside (Oct 22, 2009)

syed74 said:


> I have Aus residence visa . Is it possible to have home mortgage straight away after landing in Australia, while never spent more tahan a month in Aus


I think yes, because all you need is a valid and supported documents for you to have a home mortgage for so long as the requirements does not require a number of months for you to stay in Australia.


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## Dexter (May 5, 2010)

Yes, there is no problem with that. The lender will require you to provide some info though e.g. your payslips, possibly referees etc.


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## annieng (Jul 7, 2010)

Yes you can. As long as you prove to the bank that you're able to pay the mortgage (e.g. having a stable job), it should be fine.


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## Craig Vaughan (Jul 21, 2010)

syed74 said:


> I have Aus residence visa . Is it possible to have home mortgage straight away after landing in Australia, while never spent more tahan a month in Aus


Hi, it is definitely possible to arrange a mortgage here if new to the country. The main issue is deposit - if you are on a 457 visa and want a home loan then the max LVR (LTV) the banks will give you is 80% so you will need a 20% deposit plus costs. If however you are on a 457 Visa and have an application for permanent residency in then 90% may be available.

If you have Australian Permanent Residence then you can go to 90-95% LVR so a smaller deposit is required. You would also potentially be eligible for the First Home Owners Grant.

If you on a temporary resident visa such as a spouse visa and seeking a home loan with your Australian Citizen/Permanent resident spouse (including defacto) then you can also get 90-95% LVR and may be eligible for the FHOG as well.


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## annieshark (Sep 24, 2010)

Yes - but you have to have a good job and assets and a great credit rating!


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