Welcome to Australia Now you re living here, you

Welcome to Australia!!

Now you're living here, you are wanting to buy a property create this beautiful country seem more like residence - am I right? Well guess what tutorial you can! You don't have to wait until you make an application for your Permanent Residency before buying a residence, and you won't have to pay a cent even more in interest than an Aussie Citizen!

I'm glad you required. The amount you can borrow while on a functioning (457) Visa does depend on your position, such as your employment history, property position and marital status.

Underneath is a brief outline as to the amount you may be able to borrow:

There are also loan providers that prefer those on a 457 Visa who are trained and are doing work as medical professionals. These professions incorporate, however are not exclusive to: Dental surgeons, Veterinarians, Surgeons, Oncologists, Optometrists, Radiographers and Psychiatrists. In the past these professionals put on a 422 Visa, however they are now covered under a 457 Visa such as other temporary residents that move to Australia for work.

Yes, you will need to obtain Federal Investment Review Aboard (FIRB) approval to purchase Award Winning Dentist in Victoria a home in Australia; this normally takes no more than 30 days. In order to apply for FIRB approval at the same time a person apply for a Pre Approval for your Mortgage loan.

Non-resident borrowers should use a mortgage broker that specialises in this area. This is because most lenders will not consider applications right from foreign citizens.

Mortgage Brokers that focus on lending funds to temporary inhabitants and those on a

, and have already carried out the leg work for you - so that they will know exactly which lender might fit your specific situation, which means you will get approved on the first try, is actually minimal hassle to you!

Your put in or down payment is the difference between the personal loan amount and the purchase price plus fees and charges. In most states of Australia you should allow around five per cent of the purchase price to go towards authorities taxes (such as stamp duty), solicitors fees and Lenders Mortgage loan Insurance (LMI), if applicable.

Throughout QLD stamp duty is a little below other states, whereas in Victoria this is a little higher. If you are buying with a Australian Citizen or Permanent Resident and you are eligible for the First Home Owners Grants (FHOG) then you may also receive a stamps duty concession. In this case please discuss the required deposit size with your large financial company.

For everyone else a good rule of thumb would be to have 25% of the purchase price throughout savings if you qualify for an 80% loan, 15% if you qualify for a 90% loan and 10% should you qualify for a 95% mortgage.