Home Loans for Non-Residents in the Gold Coast: What You Need to Know

Home loans for non-residents can be difficult to access due to strict lending policies, higher deposit requirements, and limited loan options. Many non-residents dream of homeownership on the Gold Coast to build stability, grow wealth, or invest in Australia’s thriving property market, but the process can feel overwhelming. 

Working with a mortgage broker like LM Edge makes this journey easier by connecting you with lenders who offer tailored loan products and guiding you through eligibility requirements. Brokers can also handle the paperwork, negotiate competitive rates, and ensure a smooth mortgage application process. 

In this guide, we’ll break down everything you need to know about home loans for non-residents, including eligibility, loan options, and expert tips for loan approval.

What are Home Loans for Non-Residents?

Home loans for non-residents are tailored for individuals who are not Australian citizens or permanent residents but wish to buy property in Australia. These loans often have stricter requirements and higher interest rates than standard home loans.

Unlike traditional loans, non-resident mortgages come with conditions designed to address the needs of non-residents. Lenders may also impose stricter borrowing limits and other unique terms to mitigate risks.

Key Features of Non-Resident Home Loans

Non-resident home loans come with unique features that cater to foreign buyers and temporary visa holders. Here are some of the most common characteristics:

• Flexible Loan Options: Tailored to suit different property types like vacant land or investment properties.
  
• Higher Deposit Requirements: Non-residents often need a larger deposit, typically between 20% to 30%.
  
• Foreign Income Verification: Lenders may assess foreign currencies and exchange rates to determine borrowing capacity.
  
• Limited Lenders: Only a handful of Australian banks and non-bank lenders offer loans to non-residents.

Gold Coast Property Market in 2025: Insight Into Non-Residents' Homeownership

The Gold Coast property market continues to grow, making it an attractive destination for non-residents looking to invest or own a home. As of late 2024, median house prices in the region reached $1.03 million, with units averaging $720,000, reflecting a 9.3% annual increase (CoreLogic). 

Experts predict steady growth in 2025, driven by high demand, infrastructure projects, and strong rental yields. Non-residents are drawn to suburbs like Surfers Paradise, Broadbeach, Southport, and Burleigh Heads, offering beachfront living and strong investment potential. The city’s expanding economy, world-class amenities, and proximity to Brisbane make it ideal for property investment.

 

With Australia’s cash rate stabilising and government policies supporting foreign investment, 2025 is expected to present promising opportunities for non-residents entering the Gold Coast market.

Home Loan Options for Non-Residents with Broker Support

Non-residents looking to buy property on the Gold Coast have specific loan options based on their visa status, financial position, and investment goals. A mortgage broker can connect you with lenders offering competitive loan rates, lower deposit requirements, and tailored loan terms.

Here are the common home loans available to non-residents:

Foreign Investor Loans

Foreign investors can purchase property in Australia but must secure Foreign Investment Review Board (FIRB) approval before buying. Most lenders require a 30-40% deposit, and higher interest rates may apply due to additional lending risks.

Temporary Resident Home Loans

Visa holders, such as those on subclass 482 (TSS), 491 (Skilled Work), or 500 (Student) visas, may qualify for home loans through select lenders. Depending on the lender and visa type, deposit requirements range from 20% to 30%, but some may allow lower deposits with lenders mortgage insurance (LMI).

Expat Home Loans

Australian citizens living overseas can apply for home loans on the Gold Coast with similar terms as local buyers. Lenders assess foreign income, exchange rates, and tax obligations, and mortgage brokers help expats find lenders that accept foreign currency income while offering flexible repayment options.

Joint Home Loans with an Australian Citizen or PR

Non-residents purchasing property with an Australian citizen or permanent resident can access more favourable loan terms. Lenders may allow lower deposits (as little as 10-20%) and better interest rates based on the Australian partner’s financial stability and credit history.

First Home Buyer Loans for Non-Residents

Most government grants and first home buyer programs, including the First Home Owner Grant QLD, are only available to Australian citizens and permanent residents. However, some lenders offer low-deposit home loans for non-residents who meet specific eligibility criteria. 

Mortgage brokers help explore alternative finance solutions, such as shared equity schemes or private lending options.

Construction Loans for Non-Residents

Non-residents looking to build a home on the Gold Coast can apply for construction loans, but lenders often require a 30-40% deposit due to higher risks. FIRB approval is necessary for non-residents purchasing vacant land for development.

Guarantor Home Loans for Non-Residents

Some lenders allow non-residents to secure a home loan with an Australian citizen or PR as a guarantor. This can reduce deposit requirements, eliminate lenders mortgage insurance (LMI), and improve loan approval chances, provided the guarantor meets income and credit requirements.

Government Requirements and Fees for Non-Residents

• Foreign Investment Review Board (FIRB) Approval: Non-residents must obtain FIRB approval before purchasing property, with fees starting at $13,200 for properties under $1 million.
• First Home Owner Grant (FHOG QLD): A $30,000 grant is available only to Australian citizens and permanent residents buying or building a new home. 

Mortgage brokers simplify the home loan process for non-residents by identifying lenders who specialise in foreign and temporary resident financing. With expert guidance, you can find the best loan options and make informed property investment decisions on the Gold Coast.

How to Apply for a Non-Resident's Home Loan

Applying for home loans for non-residents requires careful preparation and the right lender. Follow these steps to streamline the process:

1. Assess Your Eligibility

Check lender requirements, including visa status, deposit amount, and income documentation. If you're a foreign investor, apply for FIRB approval before purchasing property.

2. Get Pre-Approval

Pre-approval helps determine your borrowing power and allows you to confidently search for properties within your budget. A mortgage broker can assist in comparing lenders and securing competitive rates.

3. Find an Eligible Property

Ensure the property meets lender requirements and FIRB regulations if you're a non-resident investor. Consider residential homes, off-the-plan properties, or vacant land depending on your goals.

4. Submit Your Loan Application

Provide required documents, including proof of income, employment verification, international credit report, and FIRB approval if applicable. Lenders assess your financial stability before offering formal approval.

5. Sign the Loan Contract and Finalise Settlement

Once approved, review your loan contract, interest rate, and repayment terms before signing. Your lender will finalise the settlement process, allowing you to move forward with your property purchase.

Working with a mortgage broker simplifies the loan application process and ensures you meet all lender requirements for a successful approval.

Eligibility Criteria for Non-Residents' Home Loans

Non-residents looking to buy property on the Gold Coast must meet specific lending requirements set by Australian banks and lenders. While eligibility varies by lender, the following key criteria generally apply:

• Visa Status:  Lenders assess visa types to determine loan eligibility. Temporary visa holders (e.g., subclass 482, 491, or 500) may qualify, while foreign investors need Foreign Investment Review Board (FIRB) approval before purchasing property.
• Minimum Deposit Requirements:  Non-residents typically need a 20-40% deposit of the property’s purchase price. The exact percentage depends on the lender, visa type, and whether lenders mortgage insurance (LMI) is applicable.
• Proof of Income and Employment:  Applicants must provide income documentation such as payslips, tax returns, and employment contracts. Foreign income is accepted by some lenders but must be converted to AUD and meet lender exchange rate policies.
• FIRB Approval for Foreign Buyers:  Foreign investors must apply for FIRB approval before purchasing property in Australia. Fees start at $13,200 for properties under $1 million, with higher costs for more expensive purchases.
• Credit History and Financial Stability:  A strong credit score and credit report improve loan approval chances. Non-residents may need to provide an international credit report if they have limited credit history in Australia.
• Loan Purpose and Property Type:  Lenders evaluate whether the property is a residential home, investment property, or vacant land. Some banks impose property price caps or restrictions on non-residents purchasing existing dwellings.
• Australian Guarantor (If Applicable):  Non-residents may increase loan approval chances by having an Australian citizen or PR as a guarantor. This can help lower deposit requirements and eliminate LMI costs.

Working with a mortgage broker ensures you meet lender-specific eligibility requirements and gather the right documents for a smooth loan application process.

Case Study: Alex’s Journey to Homeownership as a Non-Resident on the Gold Coast

Alex, a UK citizen on a subclass 482 visa, wanted to buy a residential property in Broadbeach but faced high deposit requirements and limited lender options. He struggled to find a bank that accepted his foreign income and met the FIRB approval process.

After consulting a mortgage broker, Alex secured a 20% deposit home loan with a lender that accepted UK-earned income. The broker also guided him through FIRB approval, ensuring compliance with Australian property laws.

Within months, Alex signed the loan contract and purchased his Gold Coast home with competitive loan terms and flexible repayment options. His broker helped him structure a split loan, balancing fixed and variable rates to suit his financial goals.

Tips to Secure Approval for Non-Residents' Home Loans

Non-residents can improve their chances of home loan approval by preparing their finances and meeting lender requirements. Here are six essential tips to help you get approved:

1. Save for a Larger Deposit:  Most lenders require a 20-40% deposit for non-residents. A higher deposit reduces loan risk and may help secure better interest rates.
2. Strengthen Your Credit Profile:  A strong credit score and financial history improve approval chances. Providing an international credit report can help if you have limited history in Australia.
3. Choose Lenders That Accept Foreign Income:  Not all lenders accept overseas earnings or all currencies. Work with a mortgage broker to find banks that recognise your foreign income and taxable earnings.
4. Get FIRB Approval in Advance:  If you're a foreign investor, obtaining Foreign Investment Review Board (FIRB) approval early prevents delays. Fees start at $13,200 for properties under $1 million.
5. Consider an Australian Guarantor:  A guarantor who is an Australian citizen or permanent resident can reduce deposit requirements and eliminate lenders mortgage insurance (LMI) costs.
6. Work with a Mortgage Broker:  A mortgage broker helps compare loan options, connect with suitable lenders, and handle the loan application process. This ensures a smoother experience and higher approval chances.

With proper preparation and expert guidance, non-residents can successfully secure a home loan on the Gold Coast.

FAQs

Can I get a mortgage in Australia as a non-resident?

Yes, non-residents can apply for mortgages in Australia. However, lending criteria and terms vary depending on your visa status and financial circumstances.

What is the easiest home loan to get approved for?

Fixed-rate home loans are often easier to secure as they offer predictable terms and are less risky for lenders.

Can non-citizens get a loan in Australia?

Yes, non-citizens, including temporary visa holders and foreign investors, can access home loans but may face higher deposits and additional fees.

What is a green home loan?

A green home loan is designed for energy-efficient properties, offering lower interest rates and favourable loan terms for eligible home buyers.

How much deposit do non-residents need?

Non-residents typically need a deposit of 20% to 30% of the property purchase price, depending on the lender.

Are there government incentives for non-residents?

Government incentives, like first-home buyer grants, may apply to non-residents, but eligibility depends on visa status and type of property.

Can non-residents invest in Australian property?

Yes, foreign investors and temporary residents can purchase Australian property but may face additional stamp duty fees.

Final Thoughts

Owning property on the Gold Coast as a non-resident in 2025 is an exciting opportunity, especially with the right loan options and expert support. Understanding eligibility requirements, deposit expectations, and lender policies can make the process smooth and stress-free. 

LM Edge, an award-winning mortgage broker, compares over 60+ lenders to find competitive rates and tailored solutions for non-residents.

Ready to take the next step? Book a free consultation with LM Edge today at  LM Edge or call 0401 022 182 for expert guidance on your home loan journey!