And in case you are wondering how the lender would view your application, here are some common practices:
- Declined – If the lenders think that lending you money as a foreign citizen residing overseas is a high-risk scenario, they may decline the application.
- Approved with certain limitations – They may minimise the amount you can borrow or may require additional documentations.
- Approved – There are some lenders who specifically cater to non-resident borrowers. They have 24/7 agents whom you can talk to if you’re living abroad. This kind of lenders usually let you enjoy the same home loan features just like normal borrowers.
If you would like to talk to a mortgage broker from 3Carrots to discuss non-resident loans, please call 0434 390 688.