Are you considering buying a house while on a subclass 180/190 visa?
Yes, you can buy a property on a skilled worker visa subclasses 180/190. However, buying a property with these visas can take time and effort. Capkon home loan has helped numerous subclass 180/190 visa holders to secure their dream homes. There are a few challenging factors for temporary residents to face while getting their loans approved. Here is some general information about the subclass 180/190 visa home loan that should be useful.
How much can I borrow?
According to the profession, a few different visa subclasses apply to the skilled jobs mentioned in SOL and CSOL. If you don’t know what SOL and CSOL are, the Australian Department of Immigration publishes its new Skilled Occupations List (SOL) and Consolidated Sponsored Occupation List (CSOL) every year.
The following visa holders may be eligible for a mortgage and borrow up to 95% of the property value under the permanent resident mortgage policy:
- Employer Nomination Scheme (subclass 186)
- Skilled Independent visa (subclass 189)
- Skilled Nominated Visa (subclass 190)
Can I get the same interest rates as Australian citizens?
And the answer is yes you can. As a working resident of Australia, you won’t be charged a higher interest rate simply because you are a foreigner. You can obtain the same mortgage features as an Australian citizen without paying any additional expenses.
What if I am a temporary resident?
Generally, your ability to borrow money is influenced by your type of visa, your line of work, and the stability of your overall financial condition, just like if you were a permanent resident.
If you’re in a relationship, are wed to, or live with an Australian citizen or permanent resident you may be able to borrow up to 95% of the value of your home. Capkon home loan has helped subclasses 180/190 visa holders secure the home of their dreams. You can contact Capkon for a proper analysis of your situation and find the perfect home loan suited for you.
Do you meet the requirements for a skilled occupation loan?
To know if your profession is eligible for a 180/190 visa, you can contact us at Capkon. Choosing the right lender is critical when arranging a subclass 180/190 visa, and it can get confusing figuring out if your skilled occupation qualifies for a home loan. We are here to help.
Contact us if you want more details about the stages of purchasing a house in Australia, the deposit needs, the eligibility requirements to gain mortgage approval, and more. To get a free appointment with one of our mortgage brokers specializing in 180/190 visa home loans, call us at 1300 227 566 or complete our online inquiry form.