Fast Home Loan Approval For 457 Visa Holders
- For employee-sponsored workers
- We approve when others said “no”
- Borrow up to 95% of the purchase price
- Competitive interest rates
- No cost, no obligation service
Temporary residents on a skilled regional sponsored visa subclass 475 are on the pathway to Australian permanent residency. Its at this time that you may be considering purchasing a property in Australia given that your permanent residency is all but assured once you complete your 2 years. This is where MAP can help. We can assist subclass 475 visa holders with home loan finance up to 90% LVR meaning that only a 10% deposit plus costs like stamp duty and legals would be required. It is true that you can be approved mortgage finance whilst on a skilled regional sponsored visa subclass 475, the key is simply applying with the right bank.
Skilled regional sponsored visa subclass 475 visa holders can borrow up to 90% of the purchase price providing they can demonstrate;
a) Good employment history,
b) Clean credit history,
c) That they have saved up part of the deposit themselves, and
d) Income sufficient to afford the repayments.
Borrowing to 90% LVR for 475 Visa Holders is not a standard product and policy. Given that MAP specialises in home loans for temporary residents, we have made special arrangements with some banks to consider these applications at higher levels than would normally considered.
All borrowers who borrow over 80% LVR in Australia (that is, without a 20% deposit), will have to pay lenders mortgage insurance (‘LMI’) unless they have a guarantor. If you are on a subclass 475 visa then you will, like all borrowers in Australia, have to pay LMI. The LMI premium charged varies from bank to bank depending on the loan size and LVR. In most cases the LMI can be capitalised on top of the loan.
PeterGreat service, always attentive and let us know what would happen, how it would work, what was required etc. Craig goes the extra mile and is always available on the phone or email at anytime to explain things. Phenomenal Service. You won’t get better (Although first house purchase in Australia, this is my 4th house purchase and the best service yet by far!).
Chloe and Ben P.A and Chef from Auckland New Zealand on a 461 Visa, Bought a New Home in Brisbane QLDCraig – you always answered my emails and phone messages very quickly (even at 11pm or when you were overseas)! Although we never met in person we developed a great broker/borrower relationship through correspondence. You went over and above our expectation as a broker – especially when things were taking a long time or other people were making mistakes. You continued to keep us updated on the progress of our loan and I never had to follow you up on anything. You had great attention to detail you were never pushy and I felt like you were always honest with us. I would definitely recommend you to all my friends and family. Thank you so much for helping us buy our first home. We will contact you again when we are ready for the next one! Cheers Chloe Ben
TheresiaThanks for your assistance. You’ve made my first home buying experience very easy & pleasant. I will for sure recommend your service if any of my friends is looking for home loan deals. Regards, Theresia
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