Many new migrant think they wont be able to apply for a mortgage to buy their own home in Perth until they have lived here a while. THIS IS NOT TRUE, YOU CAN PROBABLY APPLY FOR A HOME LOAN NOW For example we arrived in Australia in October 2003 applied for a home loan and the
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first time home owners grant (FHOG)
and moved into our first Australian home 8 weeks later.
There are many different loan products available so it can sometimes be confusing. Speak with a mortgage broker first, they have access to a majority of the lenders and can compare all the different products for you on their software (which is updated with whats new daily).
The most suitable product for you will depend on your current employment and financial circumstances. A Mortgage Consultant would explain all this to you along with the benefits of each product.
If you have a good deposit but still have to find employment you may find, that what is called a Lo Doc Loan may be an option Be careful though as there can be unexpected costs and restrictions with such a loan and they are becomming more difficult to obtain in the current market. Get your mortgage broker to explain the get in cost and the get out cost.
With a Lo Doc you are required to put down a large deposit and as the name suggests with a Lo Doc Loan, you will not be required to provide proof of income, you will simply sign a statement to say that you can afford the loan (conditions vary with different lenders).
Confused? Let Me Help
As a migrant from the UK I have already been through the home loan process in Perth so I know what to look out for.
I am a Licenced Finance Broker (FBL #4069) and happy to share my experience with you and guide through the process.
If you would like me to contact you and guide you through the process of buying your first home just fill the form out below and I will be in touch.
As Your Personal Mortgage Consultant I will work with you to understand your needs and requirements. I have access to a panel of lenders and different products. I will help you to select the product that best suits you. I can save you heaps of time and take away the hassle of visiting every lender yourself.
Your Perth Mortgage
If you would like to take the fist step to buying your first home in Perth or would just like to be kept up to date with the Perth home loan market then fill out your details below and I will keep you informed :-)
Hey and don't wait until you get here, feel free to contact me anytime about your Perth mortgage. I am happy to chat and answer your questions, remember I was in your shoes once.
DISCLAIMER
From Perth Mortgage Back to ImmigratePerth.com Home Page
page last updated 1st December 2008
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