There is a lot of confusion around getting a home loan as a permanent resident. Luckily, at Bee Finance Savvy, we’re familiar with the process! So we’re able to make it a little easier for our clients. Let’s answer some of the most common questions people have about this situation.
Can a permanent resident in Australia get a home loan?
The answer is yes. You may have heard about crack downs on foreign investment buying. But this is a different area of legislation. Thus, these restrictions don’t apply to permanent residents in Australia.
Is approval from the Foreign Investment Review Board needed?
No. Foreign investors need to get approval from the FIRB, but not permanent residents. Not having to go through this step, therefore makes the process quite a bit simpler.
Can a permanent resident get the First Home Owners Grant?
Yes, absolutely! If the property you’re buying is eligible, and you meet the criteria, you can apply for the FHOG as a
permanent resident. At Bee Finance Savvy, we help our clients, including permanent residents, apply for the First Home Owners Grant.
What about stamp duty concessions in NSW?
Once again, yes! Permanent residents can apply for stamp duty concessions in NSW, if their situation, and the property they are buying meet the criteria. This can be really helpful for helping people reduce the deposit they need. In turn, this can help them buy their property a little sooner.
Still not sure if you qualify for mortgage as a permanent resident?
Don’t worry – at Bee Finance Savvy, we can answer all your questions about getting a home loan as a permanent
resident. We help our clients from start to finish, so we’ll be here to support you from your first question, to the happy day you own your home!
Our friendly broker Desiree is here to help with a free consultation. She can answer all your questions, and help you understand all your options.
If you’d like to hear from just some of our satisfied customers, take a look at our reviews on WOMO https://www.wordofmouth.com.au/reviews/bee-finance-savvy-miranda