Question : Is it possible to take a home loan on a house abroad?
I have an Australian wife, and she is looking forwards to moving to Australia one day, however, the home loan rate over there is usually above 7% which is much more than the relatively low 4,25% offered here. Is it possible to pay off a house in Australia with a home loan from my country? If so, what kinds of fees are there? Any personal experience is appreciated.
- asked by dane
All Answers:
Answer #1
What you ask is possible but you must use theright words.If you can buy the house in Australia,the banking establishmentswant you to make themortgage payments. They do not care how you doit.If you can borrow the money here against theproperty you have here and use the funds to paythe mortgage there, all iswell as long as thebanker here gets their mortgage payments.If one ofthe properties is rented, or used for housing fora relative (who pays enough to make the mortgagepayments)again all is well.In no case doesAustralia or America Bankers want to hear that youare sending funds to another country. (DON'TTELLDON'T ASK) Pay all bill Early and in full.Theusual way to handle this problem is to buy anincome producing property in the country where youare currently living. And an income producingproperty in the countrywhere you want to live. Asa result of two income producingproperties, youwill have assets that will pay for the propertyyouwant when your decide to move.The sooner you startthis project the better off you will be.
- answered by whatevit
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