Australian Mortgages in the United States

Australian Mortgages in the United States

United States

Australia’s Expat community in the United States is growing stronger by the day. Our expert brokers can find you the best Australian home loan deal when you are living and working in the United States.

Australian Home Loans for United States Expats and Citizens

Here are the facts you need to know about Expats in the United States and how you can achieve Australian home loan approval.

Loan Types: Variable, Fixed, and Interest-Only

Are you an Aussie Expat living in the United States? Or, a US citizen who dreams of buying an Aussie property?

Odin Mortgage can help you secure the perfect home loan deal, regardless of your location or circumstances. We will search for the best residential or investment loan options and match you to a great deal!

If you want to refinance an existing property, we can help you with that task too!

We have Australian home loans for Aussie citizens, non-residents, and foreign nationals. Australian citizens living in the United States will have a vast range of loan types available, including flexible, variable, and split rate loans.

You could choose to keep your costs low with an interest-only mortgage, having the option to switch to a fixed deal later on.

 

Loan Size and Term

What home loan terms are you looking for? We have a database of so many lenders that all options will be available to you! Australian citizens living in the United States hold a significant advantage in that you can access the same deals as resident Aussies!

There will be a minimum amount that you will be able to borrow, in the region of $100,000. The maximum you can borrow depends on your borrowing power and personal situation.

You could borrow up to 95% of the property price if you are an Aussie Expat with high borrowing power. United States citizens will be able to borrow large home loans, also, usually around 75% of the purchase price.

Contact Odin Mortgage today to discover the perfect loan deals for you!

 

Home Loan Package: Offsets and Redraw

As an Aussie Expat in the United States, did you think it would be difficult to buy a home back in the land Downunder? Odin Mortgage will break down any barriers you may face and secure an amazing home loan deal for you in Australia.

You will be able to use redraw facilities and offset accounts, as well as online and telephone banking.

United States investors will additionally be able to enjoy great home loan features!

 

How Do Lenders View the United States Dollar?

The United States Dollar is a common currency that Australian lenders are very familiar with. 

You may be able to use 100% of your United States currency in your borrowing power assessment due to the stability of the currency.

 

Pros and Cons

What are the pros and cons of approving an Australian home loan in the United States?

Pros Cons
Australian citizens in the United States could borrow up to 95% of the property value.
Some lenders may not accept dual citizenship as Australian citizenship.
Wherever you live, you will have the same loan deals and rates available to resident Aussies as an Australian citizen.
Some lenders may decrease your United States currency earnings when calculating borrowing power.
USA tax rates may be used by the lender, offering an advantage to Aussie tax rates.
An Australian Power of Attorney may be requested by some lenders.
United States investors could get 75% loan approval.
United States national married to an Aussie citizen can improve borrowing power.

Allow us to find you the perfect home loan.​

Apply online to get expert recommendations with real interest rates and repayments.

Mortgage Features

You can expect the following mortgage features in the United States:

Feature Details
Deposit Size
Your circumstances will dictate the deposit required, although lenders usually favour a 20% deposit.
Borrowing Power
Up to 100% of the amount may be considered when a lender calculates your borrowing power due to the strength of the US dollar. This will vary from lender to lender, however.
Repayment Options
United States citizens may be able to access some great repayment options as foreign buyers with Odin Mortgage. Aussie citizens living in the United States may enjoy making additional repayments without penalty fees.
Interest Rates
Aussie Expats with Aussie citizenship can enjoy a wide range of rates! This will vary depending on your personal situation. United States citizens may be faced with higher interest rates. Contact Odin Mortgage to find you the best deals available.

Mortgage Features

Key Facts

More than 1 million Australian citizens are currently living and working overseas.

Over 100,000 Aussie Expats live in the United States, predominantly on the East Coast.

Aussie citizens can access fantastic home loans, the same deals available to Aussie residents.

Lenders in Australia love United States investors!

Feature Details
Deposit Size
ANZ prefers a home loan deposit of 20% or more when applying for a home loan.
Offset Account
A transaction account linked to home or investment loans. This account can be used to offset the amount you owe on the loan, and ANZ will only charge the interest in the difference.
Repayment Options
Depending on your loan type, repayments can be made weekly, fortnightly or monthly via ANZ’ Internet Banking services.
Package Benefits
With ANZ packages, borrowers can access lower interest rates, free offset account, credit card and benefit from waived fees.
Interest Rates
With the Breakfree package, borrowers can access a discount up to 2.10%
Expat Information
ANZ can assist loan applications in a variety of foreign currencies.

How Do I Apply?

Are you hoping to apply for an Australian Expat home loan in the US, or apply as a US citizen to buy an Assie property? You must meet the following eligibility criteria:

Eligibility

  • A high credit score and a great credit history.
  • Proof of identity (e.g. Australian citizenship evidence if you are an Aussie Expat)
  • A good-sized deposit, even more so if you are a US national.
  • You must be aged over 18 years old.

Choose Odin Mortgage when applying for an Aussie home loan and receive expert home loan services.

Documents required

  • Evidence your income (two methods from payslips, tax returns, employment letter)
  • Proof of identity (passport, driving license, birth certificate)
  • Expenses evidence (liability statements, living cost evidence)
  • The purchase details of the property

Other Considerations

FIRB

Australian citizens don’t need approval from the FIRB. Australian citizenships exist regardless of the country you live and work in.

The Foreign Investment Review Board must approve any foreign investment in Australia. They aim to ensure that the property market is fair for Aussie citizens. 

As a United States citizen buying property in Australia, you will need to apply to the FIRB. Your application will cost several thousand dollars, depending on the value of the property you wish to buy.

Stamp Duty Surcharge

Depending on the state or territory you want to buy in, as well as the property value, you will have a considerable stamp duty fee to pay. 

An Aussie citizen will have 12 months to pay the stamp duty fee. However, you may qualify for an exemption or discount as a first home buyer.

If you are a US citizen and you are buying an Australian property as a foreign buyer, you will need to pay a stamp duty surcharge. The amount you will need to pay varies according to the state or territory the property is located in. On average, a surcharge of 7% or 8% is payable, on top of the standard stamp duty fee.

If you purchase a home in Tasmania, Australian Central Territory, or Northern Territory, the stamp duty surcharge is not applicable.

Similar Countries

Canada

Frequently Asked Questions

Australian citizens can apply for an Australian home loan wherever they are in the world!

You can apply for the same great deals and rates that resident Aussie can secure. You may have more evidence to submit, however.

United States citizenship does not prevent you from buying a property in Australia. Odin Mortgage can discover the best deals for your personal situation!

A great deposit, a high credit score, and FIRB approval will be required, however.

Australian citizenship can demand loan approval of up to 95% of the value of the property. Wherever you live and work, your Aussie citizenship is strong!

Odin Mortgage brokers offer expert advice and guidance in Australian Expat home loans. Get in touch today!