Home Loan Success for Self-Employed Expat with USA Income and 1-year Financials
Occupation
Self-employed – Business Owner
Location
VIC (CAT 1)
Loan Amount
$1.35m
LVR
80%
Property Type
Established House
Scenario
Mr K is an Australian citizen who splits his time between the US and Australia. He has been in the fitness industry for many years and decided to open his own chain of gyms two years ago. He was looking to purchase an established home in Melbourne to move into with his family but was having trouble getting a loan from traditional banks because he is self-employed and receives an overseas income.
How did Brighten help?
Brighten accepts 1-year financials for self-employed borrowers with foreign income under its expat product, Brighten Elevate. Based on the US-equivalent 1-year financial documents provided by Mr K, Brighten accepted 90% of his overseas income. As a result, Brighten approved his application within 48 hours.
Fees, charges, lending criteria applies.