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Subclass 309 or 820 partner visa home loan

This page is for applicants on a 309 or 820 partner visa who are looking to buy a home in Australia and obtain a home loan. MAP Home Loans specialises in this type of loan specifically because most lenders and brokers do not understand the migration system and the 2 stage visa process to an Australian Partner Permanent Residency visa.

This page contains some information for partner visa holders on Subclass 309 or 820 visas seeking to obtain a home loan in Australia.

What is the maximum LVR I can get?

As a general rule, the maximum loan to value ratio is 80%.

Can I get more than 80% LVR?

Yes. Whilst you may have been advised that you need a 20% deposit when on a partner visa, MAP can assist partner visa holder’s purchase with only a 5-10% deposit. The criteria are:

1 year left remaining on your partner visa (if you have less than 1 year please contact us now on +61 07 2143 8230),
Good employment history and clean credit
Positive asset position – that is, your assets combined outweigh your liabilities,
Purchasing as joint tenants with an Australian citizen or Permanent Resident.

Although some lenders will refuse to go above 80%, due to our experience and qualifications, we are able to assist with a home loan with a smaller deposit than generally required.

Will the interest rate on my loan be higher than everyone else’s?

No, the loan you are offered will be the same as any loan offered to Australian citizens and permanent residents.

What special features can I get with my home loan?

As a temporary resident on a subclass 309 or 820 partner visa you have access to standard home loans with the same features that are offered to the general public including offset accounts, professional packages, introductory rates and fixed rates.

Do I need Foreign Investment Review Board approval for my application?

No. As long as you are purchasing property with your partner who is an Australian citizen you will not need FIRB approval for your loan.

Contact us to find out more about the process of finding and applying for a home loan when one partner is on a subclass 309 or 820 partner visa. We specialise in helping people in your situation and are more than happy to discuss your needs and situation.

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Great 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!).

Peter

Craig – 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

Chloe and Ben P.A and Chef from Auckland New Zealand on a 461 Visa, Bought a New Home in Brisbane QLD

Thanks 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

Theresia

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