The currency groups
| Currency group | Share of income brokers say is counted |
|---|---|
| Australian dollars | No currency discount. Lenders still look at how stable the income is. |
| Top tier: US dollar, pound, euro, Singapore dollar, Hong Kong dollar | One broker says lenders count 100%. Another says major currencies are usually shaded to 60% to 80%. The percentage is set lender by lender. |
| Second tier: dirham, Qatari riyal, Kuwaiti dinar, Saudi riyal | 60% to 80% in one broker’s example, and lenders adjust for a no-tax jurisdiction. |
| Everything else | Assessed lender by lender, and some lenders will not accept them. Emerging currencies are heavily shaded or excluded by most lenders, one broker says. |
Sources: Odin Mortgage, Hunter Galloway and Home Loan Experts broker pages. They disagree on the percentages, which is why you should ask each lender.
What the discount does to your numbers
One broker gives this example: an income of $400,000 in a top-tier currency counts as $400,000 for serviceability, while the same income in a second-tier currency counts as $240,000 to $320,000. That is the reason a currency tier matters more than it first looks, and why brokers ask which currency your pay arrives in.
Other things that move the answer
- Residency status. One broker reports non-resident foreign-national income discounted by 20% to 40% on top of the currency discount, while expats are treated more kindly.
- The exchange rate used. A lender guide says lenders often use their own exchange rates, which are often lower than market rates.
- Tax rates used. Some lenders assess you using Australian tax rates rather than those of the country you live in, which changes the after-tax income they work from.
- Employment type. Brokers ask contractors for business registration and customer contracts, and the self-employed for audited financials.
- A mix of currencies. If part of your income is in a top-tier currency, say so. Lenders can count each stream separately.
What lenders ask you to prove
Foreign income is proved with the same set as other income, but stricter: contract, payslips, bank statements and tax returns from the country where you live, with anything not in English translated by a certified translator. The document guide has the full list.
See how your currency is treated
Your roadmap shows how brokers report your currency being treated, along with your document checklist. Get your loan roadmap.
Frequently asked questions
Which currencies do Australian lenders accept?
Broker lists put the US dollar, pound, euro, Singapore dollar and Hong Kong dollar in the top tier. Others, such as the dirham, are second-tier, and less common currencies are assessed lender by lender.
Will a lender count all of my foreign income?
Sometimes. Brokers report that some lenders count 100% of top-tier income and others shade it to 60% to 80%. Ask each lender for its percentage.
Does it matter which currency my bank account is in?
Lenders care about the currency your income is paid in. If you are paid in more than one, tell the broker.
Sources
- Odin Mortgage: Australian expat home loans (broker page)
- Odin Mortgage: Non-resident home loans (broker page)
- Hunter Galloway: Australian expat home loans (broker page)
- Home Loan Experts: Foreign income home loans (broker page)
- Home Loan Experts: Non-resident mortgages (broker page)
- Unloan: Can I get a home loan in Australia while living overseas? (lender guide)
Broker-reported and indicative. Lenders change policy without notice. Checked 7 October 2026.
Expat Finance is an independent guide. It is not a lender, mortgage broker or credit provider, it does not hold an Australian credit licence, and it does not give credit, legal, tax or migration advice. It is not affiliated with any bank, the ATO or the Foreign Investment Review Board. General information only, not legal, tax, migration or financial advice.