Discover the best home loan options for non-residents🏡

Table of Contents

1. Introduction
2. Home Loan Options for Foreign Nationals
3. Overview of FIRB Requirements
4. Preparing Your FIRB Application
   • 4.1 Step 1: Eligibility Check
   • 4.2 Step 2: Required Documents
   • 4.3 Step 3: FIRB Fees & Timeline
   • 4.4 Step 4: Submission Process
   • 4.5 Step 5: Post‑Submission Obligations
5. Temporary Ban on Established Properties (2025–27)
6. Email Template & Checklist
7. Next Steps & Recommendations

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1. Introduction {#introduction}

This guide is designed for foreign nationals and temporary visa holders interested in purchasing residential property in Australia. It covers mortgage options, FIRB requirements, fees, timelines, and post‑approval compliance.

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2. Home Loan Options for Foreign Nationals {#home-loan-options}

Foreign buyers typically rely on:

• Major Australian banks (like ANZ, CBA, Westpac, NAB): Usually require 20–30% deposit and charge 0.5–1% higher interest rates.
• Specialist lenders (Macquarie, ING, St.George): More flexible with temporary visas, sometimes lower premiums than big banks.
• Non‑bank/private lenders: Offer faster processing but higher rates.
• Mortgage brokers: Help access multiple lenders—especially brokers like Home Loan Experts, MAP Brokers, and Atlas Mortgages.

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3. Overview of FIRB Requirements {#firb-overview}

Almost all foreign or temporary resident home purchases in Australia require FIRB approval before signing contracts. Key points:

• Applications made via the ATO FIRB foreign investment portal ato.gov.au+2ato.gov.au+2bambooroutes.com+2allens.com.au+5dentons.com+5foreigninvestment.gov.au+5ato.gov.au+5foreigninvestment.gov.au+5bambooroutes.com+5fclawyers.com.au+5midmountainslegal.com.au+5bambooroutes.com+5fclawyers.com.aubambooroutes.comforeigninvestment.gov.au+6ato.gov.au+6landers.com.au+6.
• Mandatory FIRB fees scale with property value (e.g., ~A$14k for ≤1M, to ~A$112.8k for 4–5M) .
• FIRB generally decides within 30 days, extendable up to 90 days landers.com.au.
• Complete compliance and planning are critical—errors cause delays.

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4. Preparing Your FIRB Application {#preparing-firb}

4.1 Step 1: Eligibility Check {#step1}

You need FIRB approval if you’re:

• A foreign non-resident or temporary visa holder
• Purchasing new dwellings, vacant land, or off-the-plan properties
  Citizens, permanent residents, and some spouse-owned joint purchases are exempt ato.gov.au+14ato.gov.au+14landers.com.au+14dentons.com+15bambooroutes.com+15midmountainslegal.com.au+15.

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4.2 Step 2: Required Documents {#step2}

• Proof of identity: passport, visa
• Sale information: property contract or details (new/vacant/off-the-plan)
• Financial records: bank statements, proof of deposit or financing letter
• Statutory declaration for vacant land or off-the-plan may be needed bambooroutes.com
• Conditional finance approval (if available)

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4.3 Step 3: FIRB Fees & Timeline {#step3}

• Fee structure:
  • ≤ A$1M → A$14,100
  • A$1–2M → A$28,200
  • A$2–3M → A$56,400
  • A$3–4M → A$84,600
  • A$4–5M → A$112,800 foreigninvestment.gov.au+4dentons.com+4landers.com.au+4foreigninvestment.gov.au+1foreigninvestment.gov.au+1
• Processing: 30-day statutory window, with possible extension to 90 days

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4.4 Step 4: Submission Process {#step4}

1. Register on the ATO FIRB portal.
2. Select correct category (e.g., new dwelling, vacant land).
3. Upload documents, include cover letter per checklist foreigninvestment.gov.au+12foreigninvestment.gov.au+12ato.gov.au+12ato.gov.au+3ato.gov.au+3bambooroutes.com+3.
4. Pay fee online, submit application.
5. Add a FIRB contingency clause in your property contract (e.g., “subject to FIRB approval within 30 days”).

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4.5 Step 5: Post‑Submission Obligations {#step5}

• Save portal confirmation receipt.
• Monitor FIRB portal for updates.
• After approval, comply with conditions: timeline for building, redevelopment, or reporting.
• Register purchase and meet any ATO reporting requirements foreigninvestment.gov.au+1allens.com.au+1landers.com.au.

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5. Temporary Ban on Established Properties (2025–27) {#ban}

From April 1, 2025 to March 31, 2027, foreign and temporary visa holders face a ban on purchasing established homes hsfkramer.com+7foreigninvestment.gov.au+7bambooroutes.com+7.

• Allowed: new dwellings, off-the-plan, and vacant land (must build within 4 years)
• Exceptions: redevelopment projects that add ≥ 20 dwellings, commercial‑scale deals, PALM-scheme housing ato.gov.au+4foreigninvestment.gov.au+4bambooroutes.com+4

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6. Email Template & Checklist {#template-checklist}

Use the checklist and email template provided earlier to ensure a smooth FIRB submission (see #Email Template & Checklist above).

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7. Next Steps & Recommendations {#next-steps}

1. Select a mortgage broker experienced with non-resident lending.
2. Tailor your email template, send it to your broker or legal advisor.
3. Prepare documents early and register on FIRB portal.
4. Include FIRB clause in any pending contracts.
5. After approval, strictly follow all FIRB conditions, monitor progress, and complete any required building or reporting.