Real estate investment for457 visa home loan is quite a tough job as temporary visa
holders have to fulfill certain conditions to come to par with permanent residents. Home loan facilitiesare available for new arrivals in the country but you have to look for specific lenders. But a new arrival shouldnt discourage from buying property as there are mortgage brokers that could provide real help.
There is a wide range of banks and private lenders in Australia but when it comes to financing real estate investment for temporary visa holders, there are limited options. A mortgage broker could help people on a temporary visa as the brokers have access to many money lenders and also they have full understanding of the home loan products.
Expecting a 457 visa home loan at reasonable interest rate is a difficult job but you could get money to buy your dream home in Australia. A mortgage broker could help and ideally you should approach a reliable broker that understands your requirements and is ready to work the extra hours to negotiate your home loan with different lenders.
If you are thinking that you could do this job on your own then you mayberight. Anyone with a full understanding of home loan rules and guidelines could negotiate a home loan. If you have the knowledge and the negotiation skills then you should go ahead. But it would prove to be a tough job for a new arrivals.
Approaching a credible mortgage broker is a great way to get a 457 visa home loan. The good thing about hiring a brokers services is that the home loan services are offered for free. The broker is not going to ask you for a deposit upfront fee or application charges or any taxes. It is a free service and new arrivals should take advantage of this free service.
You must be thinking about the income of the mortgage broker. The broker doesnt take fees from its clients but it gets commission from banks and private lenders. If the broker is successful in negotiating a home loan product, it is offered commission by the lender. This is how a mortgage broker earns profit.
457 visa home loan applicants should first find a mortgage broker and take advantage of its free service. Getting a home loan on the basis ofa temporary visa is difficult but a mortgage broker could find a lender for you.