Many of our clients came to Australia from overseas, and buying a home is often one of the first big goals after getting permanent residency. The good news: permanent residents can access most of the same home loans and government schemes as citizens.
You're not a foreign buyer
For foreign investment purposes, permanent residents are generally not foreign persons. That means:
- No FIRB approval needed
- No foreign buyer stamp duty surcharge
- The 2025–2027 established dwelling ban doesn't apply to you
Government schemes for permanent residents
- 5% Deposit Scheme: open to Australian citizens and permanent residents
- NSW stamp duty exemption (FHBAS): at least one buyer must be a citizen or PR
- First Home Owner Grant: at least one applicant must be a citizen or PR
- First Home Super Saver: available if you've made eligible contributions
- Help to Buy: requires Australian citizenship
How lenders see recent migrants
Employment history
Lenders like to see stable employment in Australia. Many accept new arrivals in skilled roles, especially if you're in the same profession as overseas.
Credit history
You may have a thin credit file because you haven't used Australian credit long. That's not necessarily a problem. Paying bills, a phone contract or a small credit card on time helps build history.
Overseas income and assets
Some lenders accept overseas income or savings, usually with currency shading. Others only count Australian income. Deposit funds from overseas need clear documentation.
Genuine savings
Funds transferred from overseas can count, but lenders want to see the source and the transfer trail.
Documents to prepare
- Passport and PR visa grant
- Australian payslips and employment contract
- Bank statements, including overseas accounts if relevant
- Evidence of overseas funds transfers
- Australian tax returns, if you've been here a while
Tips
- Build Australian credit history early with on-time payments.
- Keep deposit funds in Australia for a few months before applying if possible.
- Document everything about overseas money.
- Use a broker familiar with migrant borrowers.
Frequently asked questions
Can I get a home loan in my first year of PR?
Yes, many lenders will lend if you have stable Australian income.
Do lenders accept income from overseas rental properties?
Some do, with heavy shading and documentation.
Can my parents overseas gift me a deposit?
Often yes, with a gift letter and evidence of the transfer.
New to Australia and ready to buy? Call Finfident on 0424 545 654. We understand the challenges of buying in a new country.
This article is general information only and doesn't take into account your objectives, financial situation or needs. Figures, rates and scheme rules are current as at October 2026 and can change. Finfident Finance Brokers (ABN 94 679 280 801) is Credit Representative 569374 of Outsource Financial Pty Ltd (ACN 131 090 705), Australian Credit Licence 384324.