Expatriatehomeloans.com.au specialised in Australian expat home loans and mortgage brokers

YOWIE BAY, Australia - June 24, 2015 - PRLog -- Are you looking for an Australian expat home loan (http://expatriatehomeloans.com.au/expatriate-home-loans.php)?  Take advantage of excellent Australian property growth for home loans in Australia.  Your first step is to explore Australian home loans to ensure your finance is approved.

The Australian market currently has record low interest rates combined with a record low Australian dollar, which makes it ideal for Australian expat home loans.  While continuing your career abroad ensure you don’t miss out on the property ladder. Australia home loans are in demand with many home loan companies in Australia.  You should speak to an Australian expat home loans specialist who understands all the pitfalls purchasing property from overseas and can streamline this process for you.

Home loan companies in Australia use two main calculations to determine if a loan is approved.  The Loan to Value Ratio measures the loan amount by the value of the property.  For example if a property was sold for $500,000 and the bank was to loan $400,000, then the Loan to Value Ratio would be $400,000/$500,000 which equals 80%.  If the value is greater than 80% then the borrower will need to pay Lenders Mortgage Insurance.  This insurance covers the bank for a loan default not the borrower so should be avoided.

The affordability calculation uses your income and expenses to determine how much you can borrow.  As a rule of thumb for Australia home loans you can borrow approximately four times your income.  Affordability also takes into consideration rental returns from tenants if you are still living overseas.

It is important that an Australian expat home loan expert understands your local country income receipts and tax regime so that you can attain the best home loans in Australia for your specific needs.  Having full documents including additional overseas identification checks also helps make available a greater variety of Australia home loans.

For a free assessment contact mortgage@expatriatehomeloans.com.au today.  Expatriate Home Loans has been servicing Australian expat home loans for over ten years so have in-depth experience on Australia home loans.