Migrant & Visa Loans

But I am not a Resident of Australia?

blue-passportIf you are not a resident of Australia, however would like to purchase a property you will require approval from the Foreign Investment Review Board (FIRB) before buying residential property. See www.firb.gov.au for more information.

FIRB approval can be arranged by you or your solicitor; although you will only be able to borrow up to 70% of the value of the property and will have to show available funds to cover the 30% balance as a deposit plus funds to cover the Government Fees and charges. Tocalculate the Government purchase fees follow this link to our calculator page on our Neomoney website. As a Non-Resident borrower, you will not receive any government benefits to use with the property purchase as do Australian citizens for example, the First Home Buyers received concessions on stamp duty and/or First Home Owner Grant.

If you have applied for an Australian VISA or Permanent Residency you may wish to wait for these residency status to apply to minimise the deposit required as a Non-Resident loan and may be eligible to receive any Government benefits.

Best Lenders for 457 Visa Home Loans

No need to run around looking for the best lenders for Migrant Loans for Temporary and Permanent Residents and Visa Holders, since Neomoney has them all on our lender panel. Each lender has their own credit criteria and lending parameters for 457 Visa Holders and Migrant Loans for Temporary and Permanent Residents.

457 Visa Loans



If you or your spouse hold a 457 Visa or are not an Australian Citizen and require a home loan, Neomoney can help. Section 457 Visa is an eligible category for a property loan with many lenders. While on a 457 Visa you can certainly buy a home with a home loan arranged through our panel of lenders comprising on banks and Non-Bank lenders.

How To Get A Home loan?

To be eligible for any loan in Australia, you must be at least 18 years of age and be able to provide evidence of:

  • + A minimum 5% genuine savings or equity if you wish to borrow more than 85% of the property’s value
  • + Ongoing regular income
  • + Proof of sufficient funds to cover Government fees and relevant charges associated with buying a property in Australia
  • + Identification and, in some cases, other personal details to meet funder’s credit criteria

Are All Visas Eligible To Borrow?


Go to our Skilled & Sponsored Visa Holders webpage and/orMigrant Loans for Temporary and Permanent Residents which provides a list of eligible Visa Section or Category who can borrow through our lender panel.

Additionally, contact us to talk to a professional on lending forSkilled & Sponsored Visa Holders.


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Are you a Permanent Resident Visa or a Temporary Resident Visa Holder who would like to purchase property here in Australia, well look no further because now you can. Lenders are constantly improving their credit policy which for a new Migrant Visa holders it’s great news, since you can now obtain finance whilst on a Visa or you can obtain a Pre-Approved loan before arriving to Australia to purchase your property for when you do arrive in to Australian.

Previously, Migrant Visa Holders found it difficult to obtain finance to purchase a property with a minimal deposit of 5 percent to 10 percent. To meet the current needs of our Migrant customers who have recently moved to Australia or considering to migrant to Australia, Neomoney is able to assist new migrant customers to purchase property within Australia with a minimum range of deposits from 5 percent % to 10 percent % or more to put towards the property purchase.

  • + 5% deposit is required for Permanent Resident Visa Holders
  • + 10% deposit is required for temporary Resident Visa Holders

Both types of Visa holders will require to pay Lenders Mortgage Insurance premium which can be capitalised (added onto) to the borrowed loan amount once the loan exceeds 80% of the value of the property or if you have less than a 20% deposit to put towards the purchase you do not need to pay the Lenders Mortgage Insurance.

Eligible customers or applicants must be a migrant on the lenders list of Approved Visa Types. The lenders define a migrant as an applicant that has been approved under one of the Australian Government Temporary or Permanent Working Visa classifications for entry to Australia. For Visa holder’s with 20% deposit or more than 20% deposit, the lender may approve Migrant Loan applications as a standard Non-Resident loan at standard lending interest rates.

Conditions To A Migrant Loan

Customers or Applicants holding Visas who can satisfy the lenders domestic policy requirements are assessed on the lenders and mortgage insures standard income verification policy in Australia.

For those customers who have recently arrived in Australia, and cannot satisfy the lenders domestic lending criteria, the maximum loan amount you will be able to borrow will be capped at 70% of the purchase price of the property (you will need 30% deposit) and the loan will be assessed in accordance with lenders New Resident Migrant policy or Non-Resident Lending.

Each borrower will need to satisfy the lenders credit criteria with document verifications to comply with the National Credit Code and Code of Banking Practice. A requirement is that all borrowers must receive a beneficial interest from the transaction. If a party to the loan is not receiving a benefit from the loan they cannot become a co-borrower.

Documents required for Migrant loans:

  • + A copy of the Migrant’s Passport and Visa Type as per the approval Visa List
  • + 2 current pays slips form your employer for Visa Holder
  • + A Copy of employment contract, if available
  • + All tax returns (last 2 years) if available
  • + A copy of Bank Account Savings to show the available deposit of 5 percent or 10 percent and additional funds to complete the purchase for government costs and fees
  • + If purchasing an investment property or holders of a temporary Visa must have a minimum of 12 months remaining on their Australian residency Visa
  • + Must show good credit history and credit conduct on any current loans
  • +Self Employed customers must have an Australian Business Number and may need to show the last 2 years of business tax returns and personal tax returns.

Other documents and conditions do apply which Neomoney can help you through the lenders application process.

Which Migrant Customers Are Eligible?

Depending on the section visa you currently hold, Temporary Australian Resident Visa, the lender may approve a loan applications for visa holders who have a minimum of 10% deposit on the following visa:

Temporary Resident Visa Numbers

159, 160, 161, 162, 163, 164, 165, 300, 302,
309, 310, 405, 411, 415, 416, 422, 423, 428,
457, 461, 475, 476, 487, 820

Permanent Resident Visa Numbers

100, 103, 115, 116, 119, 120, 121, 124, 132,
143, 155, 157, 176, 186, 187, 189, 200, 201,
203, 204, 820



Expatriates can purchase property in Australia as an Australian citizen living overseas. Neomoney make’s it as easy as 1, 2, 3. Lenders NOW understand that higher incomes are derived off-shore which lure Australian Expat’s to work in foreign countries to accumulate wealth by purchasing properties back home in Australia.

No Place like Home!

beachsceen200pxIf you are the kind of Expat’s who likes to have total control over every aspect of your financial life, well we have the products to secure your residential purchase with as little as a 5% deposit (plus funds to cover the Government Costs) at a 95% Loan To Value Ratio (LVR) with the added ability to add theLenders Mortgage Insurance Premium (LMI) at local on-shore home loan interest rates.

As an expatriate once living in Malaysia for over 5 years, it’s only too obvious that you require a local on the ground who knows how the Australian financial criteria requirements operate, who understands Tax Treaties or Double Taxation Agreements which Australia has with over 40 counties when it comes to investing back home.

I Have 20% Deposit, Can I Get A Better Interest Rate?

Yes. Currently, lenders are looking at avenues to acquire more business and customers, therefore, if you meet a lender’s credit criteria of either, Risk for Rate or Loan for Rate, interest rate you can achieve a better interest rate than you may have been offered or currently paying on your loan facility.


sunriseRisk for Rate: ~ means, the lower the loan facility to the value or valuation of the property, the lower the customer borrower interest rate.

Loan for Rate: ~ means, the higher the loan amount (dollar value, i.e. above >$500K, >$750K or $1 Mil) the lower the customer interest rate.

These two parameters can also work in unison together to offer a very competitive interest rate for the borrower due to the overall low lender exposure.

Which Income Currency Allows Me To Borrow Up To 95% LVR?

If you are an Australian citizen living and working overseas, deriving your income in EUR, GBP, HKD, NZD, SGD or USD you are able to purchase a residential property as an Owner Occupied or Investment property.

If I Borrow Up To 95%, Can I Add The Mortgage Insurance Into The Loan?

Yes, is the majority answer for most lenders, however a few lenders max the borrowing amount at 95%. If interest rate or preferred lender is your driving factor then adding (capitalising) the Lenders Mortgage Insurance into the loan will depend on the choice of lender appointed.