Loans for those with Temporary Visas

2010 March 22
by iggy

Buying a home in Australia is possible for nearly everyone as long as you have the necessary paperwork and the capacity to make regular repayments.  With home prices in the country continually on the rise, investing in Australia is a wise proposition.  

This means that for holders of temporary visas, although they may not spend much time in the country, they are still open to  the option to buy real estate.  This would be a win-win situation for both parties as one can invest, and the economy likewise benefits from the business transaction.

Those with temporary visas should keep in mind that although their stay in Australia is not permanent, they can still purchase a property, and also get a home loan.  With the number of loan products available, Australia is a good place to start looking for a home to invest in.  For those temporary residents who are also not sure if they will stay for a longer period of time, they can likewise purchase a home, then either lease it out when they  move overseas, or sell the home for a profit.  Generally, residents with temporary visas can get a loan of up to 80% of the value of the property.  This can be even higher if  they are married to an Australian citizen where they can borrow up to 95% of the  property value.

However, not all holders of temporary visas can immediately get a home loan.  There is a list of those who can get a loan even if their stay in Australia is only temporary.    There are also steps to be taken by these holders of temporary visas to ensure that they can get home loans. Some holders of visas also get more benefits, depending on the type of visa that they hold.

With the help of the experts on home loans they can provide the information necessary in order for the holders of these

temporary visas to get loans.

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