American income, australian bank finance?

[Investordezz]

Thinking of making a move to the USA but would still like to invest in australia.
Does anyone know of ways to be able to finance this?

And while we are on the subject, could i purchase usa properties with aussie funds if i wanted? And if that wasnt possible can i use usa banks for finance? Or do i have to be a citizen

 

[Mick C]

Thinking of making a move to the USA but would still like to invest in australia.
Does anyone know of ways to be able to finance this?

And while we are on the subject, could i purchase usa properties with aussie funds if i wanted? And if that wasnt possible can i use usa banks for finance? Or do i have to be a citizen

1. US income is ok
2. Security will be your issue...An aus bank can only fund a US security with Equity in another property in AUS.

 

[Corey Batt]

Expat loans for Australian property purchases is fine, just higher servicing and LVR requirements.

Australian funding for US property won't happen though.

 

[MTR]

Thinking of making a move to the USA but would still like to invest in australia.
Does anyone know of ways to be able to finance this?

And while we are on the subject, could i purchase usa properties with aussie funds if i wanted? And if that wasnt possible can i use usa banks for finance? Or do i have to be a citizen

As a foreign investor it will be difficult if not impossible to source finance from US banks for US property. There are private lenders in US and Australia lending against US property however the interest rates are very high and short term, on average 3 years.

As Mick mentioned you can access equity from Australian property to purchase US property.

 

[Investordezz]

So i can still move to usa and use usa income to get aus finance for aus property?

 

[Rolf Latham]

So i can still move to usa and use usa income to get aus finance for aus property?

yup

even Indonesian rupiah works

ta
rolf

 

[Investordezz]

What are the complications?
It couldn't be as simple as 1,2,3

 

[Rolf Latham]

What are the complications?
It couldn't be as simple as 1,2,3

1a
2b
3c

few things in the way, like currency conversions potentially lower than peak lvrs, but in general all good

ta
rolf

 

[Jamie M]

What are the complications?
It couldn't be as simple as 1,2,3

In terms of income - USD is fine for servicing.

Lenders will generally take the current exchange rate and shave a bit off for potential fluctuations.

At least the payslips/employment contract will be in English - that makes life a little easier.

In terms of employment - you'll be subjected to normal bank policy. They will look at the time in your current role (and if probation is applicable) - the time you've spent in the industry you work in and the work you carried out back home.

If there's no LMI involved there's less scrutiny. If there's LMI involved - it's usually not the end of world.

If you've got a PoA in Aus to sign off on docs that will expedite things.

Cheers

Jamie

 

[Chilli]

Would be great to buy Aus IPs with loans in the US (or Europe) given their cheaper interest rate.
But may be with a lower exchange rate , around low 80s, not the current low 90s.

 

[jonmardell]

Thinking of making a move to the USA but would still like to invest in australia.
Does anyone know of ways to be able to finance this?

And while we are on the subject, could i purchase usa properties with aussie funds if i wanted? And if that wasnt possible can i use usa banks for finance? Or do i have to be a citizen

No problem at all, you can get up to 90% using USA income buying Australian property. If you were purchasing in the USA you would need to source a bank over there to finance the deal as the australian banks will not take it as security but there is nothing stopping you from doing the increases against the australian properties here for the deposit towards the usa purchase.
thanks
Jon