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Checked 7 October 2026

Home loans for foreign nationals living overseas

This is the hardest category for lenders. Foreign nationals living overseas need FIRB approval, can currently buy only new homes and vacant land, and face lower loan limits, bigger deposits and higher rates. This page explains in general terms how it plays out. The figures come from broker websites and are indicative.

Where you stand

  • FIRB approvalRequired before you buy. Only new homes and vacant land qualify while the ban on established homes runs to 30 June 2029.
  • Loan sizeBrokers report about 60% to 70% of the property’s value.
  • DepositTypically 30% to 40%.
  • RateBroker pages describe non-residents paying about 0.5% to 1% more than resident borrowers, and some non-bank lenders add fees.
  • IncomeOne broker reports non-resident foreign-national income being discounted by 20% to 40%, on top of any currency discount.
  • LendersBrokers place foreign nationals with a panel that includes specialist and non-bank lenders as well as banks.

What you can borrow for

PropertyForeign person
New home, including off the planYes, with FIRB approval
Vacant landYes, with approval and a four-year build condition
Established homeBanned to 30 June 2029 Limited exceptions

Rules and fees: FIRB Approval, based on ATO and Treasury sources.

How lenders assess you

  • Currency matters. Brokers say income must generally come from a strong-currency country. See foreign income.
  • Property type and postcode. One broker says the property typically needs to be in a Category 1 or 2 postcode. Check the postcode before you fall in love with a project.
  • Evidence of savings. Because lenders want to trace the deposit, bank statements and a history of savings carry more weight than they do for a resident.
  • Currency conversion. A lender guide notes that lenders often use their own exchange rates, which are often lower than market rates.

How FIRB and finance fit together

Brokers describe the usual order like this:

  1. Work out what you can borrow

    Through a pre-approval or a conversation with a broker, before you commit to a property.

  2. Sign a contract conditional on finance and FIRB approval

    Unless the developer’s exemption certificate covers you, in which case you do not make your own application.

  3. Lodge the FIRB application straight away

    The ATO says a decision can take up to 30 days after it receives full payment of the fee.

  4. Run formal loan approval in parallel

    The lender values the property and checks your documents.

Auctions are unconditional and have no finance condition, so approval, or an exemption certificate, and finance have to be in place before you bid.

Do the major banks lend to foreign nationals?

Broker pages say several of the large banks have restrictive policies for non-residents, that some require permanent residency or citizenship with exceptions, and that brokers place foreign nationals with a panel that includes specialist and non-bank lenders. We could not confirm any bank’s current policy from its own website, so ask a broker for the current position.

Moving money from overseas

Where you live affects how easily you can move a deposit. Mainland China, India and Malaysia each have rules on moving money out, and lenders will want evidence of where a deposit came from. See China, India and Malaysia.

What it costs on top

Foreign buyers pay a FIRB application fee and a state surcharge on top of ordinary stamp duty. A worked example is on the costs page.

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Frequently asked questions

Can a non-resident get a home loan in Australia?

Yes, but the choice of lenders is narrower. Brokers report 60% to 70% loan-to-value limits, a larger deposit and a higher rate for foreign nationals living overseas.

How much deposit do foreign buyers need?

Brokers report 30% to 40% for non-resident foreign nationals. Lenders also want to see where the money came from.

Do I need FIRB approval before I apply for a loan?

Brokers report that lenders do not always ask for it at application. You do need approval before the purchase becomes binding, and many buyers use a contract conditional on both finance and approval.

Can I buy an established home with a loan?

Not currently. Foreign persons are banned from buying established homes until 30 June 2029, with limited exceptions.

Sources

Lender figures are broker-reported and indicative. 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.