Confused About Your Visa? Can You Buy a Home in Australia?
A detailed mortgage-broker guide for 485, 491, 191, 190, 186 and student visa holders covering lender policy, foreign-investment rules, deposits, property restrictions and buying strategies across Melbourne, Sydney, Adelaide and Australia.
Many Nepalese migrants ask the same question: “I am working and saving in Australia, but does my visa allow me to buy a home?” The answer depends on two separate issues: whether a lender will approve your mortgage and whether Australian foreign-investment rules permit the property purchase.
Visa status can affect lender choice, deposit requirements, government scheme eligibility, state duties and the type of property you may buy. This guide provides a practical overview, but it is not migration, legal or tax advice.
Quick Visa Comparison
| Visa | Status | General Mortgage Position | Main Property Issue |
|---|---|---|---|
| 485 | Temporary graduate | Selected lenders may consider stable income, deposit and sufficient visa validity. | Foreign-investment approval and temporary-resident restrictions may apply. |
| 491 | Provisional regional | Potentially acceptable to selected lenders, subject to employment, regional location and visa term. | Usually still treated as temporary until permanent residence is granted. |
| 191 | Permanent regional | Generally broader lender access as a permanent resident. | Usually not subject to temporary-resident foreign-investment restrictions. |
| 190 | Permanent skilled nominated | Generally assessed as a permanent resident, subject to normal lender policy. | Ordinary legal, duty and lender checks still apply. |
| 186 | Permanent employer-nominated | Generally broader lender access, with income and employment still assessed. | Ordinary legal, duty and lender checks still apply. |
| Student 500 | Temporary student | Usually limited because of temporary status, work restrictions and income uncertainty. | Foreign-investment approval and property restrictions may apply. |
Temporary, Provisional and Permanent Visas
Temporary visas: 485 and student visa
Temporary visa holders may still obtain finance, but lender policy is usually more restrictive. A larger deposit, stable employment, strong savings and adequate time remaining on the visa may be required.
Provisional visa: 491
The 491 is a provisional regional visa and can provide a pathway to the permanent 191 visa. Until permanent residence is granted, temporary resident and foreign-investment considerations may continue to apply.
Permanent visas: 190, 191 and 186
These visas permit permanent residence. Holders generally have wider lender access and are usually not subject to the same foreign-investment restrictions as temporary residents.
Subclass 485: Temporary Graduate Visa
Some lenders may consider 485 visa holders, particularly where the applicant has full-time skilled employment, strong savings and a clear longer-term residence pathway.
- Remaining visa term
- Employment type and probation status
- Base salary, overtime and allowances
- Deposit amount and genuine savings
- Expected pathway to sponsorship or permanent residence
- Whether the intended property is legally permitted
Subclass 491: Skilled Work Regional Provisional Visa
The 491 visa is for skilled people living and working in designated regional Australia. A lender may review the applicant’s employment, regional location, remaining visa term and expected pathway to the 191.
- Confirm the property location aligns with visa conditions
- Check whether the lender accepts the 491
- Review the expected permanent-residency timeline
- Confirm foreign-investment approval requirements
- Compare buying now with waiting for the 191 visa
Subclass 191: Permanent Residence Skilled Regional Visa
The 191 visa permits eligible regional visa holders to live and work in Australia permanently. Permanent residence generally broadens lender choice and removes temporary-resident foreign-investment restrictions.
Subclass 190: Skilled Nominated Permanent Visa
The 190 is a permanent visa. Holders are generally assessed similarly to other permanent residents, although income, liabilities, deposit, credit history and property valuation still determine approval.
Subclass 186: Employer Nomination Scheme
The 186 is a permanent employer-nominated visa. Lenders may still review employment stability, probation, salary, overtime and existing debts, but permanent status generally improves lender availability.
Student Visa 500: Can an International Student Buy?
It may be possible, but this is usually the most challenging category. Student visa holders are temporary residents, work rights can be limited and lenders may not accept the income as sufficiently stable.
- A substantial deposit may be required
- Strong Australian income or an eligible co-borrower may be necessary
- Overseas income is accepted only by selected lenders
- Foreign-investment approval may be required
- The property may need to be a permitted new dwelling or vacant land
- Foreign-purchaser state surcharges may apply
Foreign-Investment Rules for Temporary Residents
Foreign persons generally require approval before buying residential property. Temporary residents may generally apply to buy certain new dwellings or vacant land for development, subject to conditions.
New Dwelling, Vacant Land or Established Home?
New Dwelling
Temporary residents may generally apply to purchase a qualifying new dwelling, subject to approval.
Vacant Land
Approval may be available where a residential dwelling will be constructed within the required timeframe.
Established Dwelling
Generally restricted for foreign persons under the current policy unless an exception applies.
Permanent Resident
Permanent residents generally do not face temporary-resident restrictions, but normal legal and lender checks apply.
What Lenders Assess Regardless of Visa
- Salary, overtime, allowances, bonuses and casual income
- Employment history and probation
- Credit cards, loans and HELP debt
- Living expenses and dependants
- Deposit, genuine savings and source of funds
- Credit history and recent enquiries
- Property type, location and valuation
- Remaining visa term and permanent-residency pathway
How Much Deposit Might You Need?
There is no universal visa deposit. Permanent residents may have access to higher loan-to-value ratios and eligible first-home schemes. Temporary residents may need a larger deposit because fewer lenders accept the visa and lenders mortgage insurance may not be available.
Also budget for legal costs, inspections, foreign-investment fees and any applicable state foreign-purchaser surcharge.
Can Visa Holders Use the 5% Deposit Scheme?
Government guarantee schemes have separate citizenship or permanent residency rules, participating lender requirements and property price caps. Permanent visa holders may have a stronger eligibility position than temporary or provisional visa holders, but current rules must be verified before relying on the scheme.
Should You Buy Now or Wait for Permanent Residence?
Buying now may be reasonable where the property is legally permitted, the deposit is strong and repayments are affordable. Waiting may provide wider lender access, greater property choice and improved scheme eligibility where permanent residence is expected soon.
Illustrative Nepalese Visa-Holder Scenario
This example is educational and does not guarantee approval.
A couple holds 485 visas and expects an employer-sponsored pathway.
They have stable work and a 10% deposit but want an established home.
Temporary-resident restrictions may prevent the intended property purchase.
Compare a permitted new dwelling now against waiting for permanent residence.
Help for Nepalese Communities Across Australia
SKR Global Finance supports eligible clients in Melbourne, Sydney, Adelaide, Brisbane, Perth, Canberra, Hobart, Darwin and regional Australia through phone, video and secure digital processes.
Guidance is available in English, Hindi and Nepali, helping clients discuss visa transitions, family deposits, overseas savings and employment more clearly.
How a Mortgage Broker Can Help
Sandeep Sigdel brings more than 7 years of combined mortgage lending, bank credit and mortgage-broking experience. He can review lender policy and your financial position, but does not provide migration or legal advice.
- Identify lenders that may consider your visa
- Review income, deposit and borrowing capacity
- Explain documents and likely policy issues
- Compare buying now with waiting for permanent residence
- Coordinate with your solicitor or migration adviser
- Support the application through approval and settlement
Detailed Visa Home-Loan FAQs
Can a 485 visa holder buy a home?
Can a 491 visa holder buy an established home?
Is a 191 visa permanent residence?
Can 190 and 186 visa holders use first-home schemes?
Can a student buy with a deposit from parents?
Do temporary visa holders pay additional stamp duty?
Can I buy jointly with an Australian citizen spouse?
Does applying for PR make me a permanent resident?
Should finance or foreign approval come first?
Can SKR Global Finance guarantee approval?
Understand Your Visa Position Before Property Hunting
Speak with Sandeep Sigdel about your visa, deposit, employment and intended property before making an offer.
This article provides general information and is not financial, legal, tax or migration advice. Visa classifications, foreign-investment rules, lender policies, state duties, fees and government schemes can change. Confirm your current visa in VEVO and obtain independent advice from a registered migration agent, solicitor, conveyancer or tax adviser where appropriate. Loan approval remains subject to lender assessment, verification and valuation. No traffic, ranking, approval or property-purchase outcome is guaranteed. Sandeep Sigdel is a Credit Representative (CRN 576436) and SKR GLOBAL FINANCE PTY LTD is a Credit Representative (CRN 576435) of Finsure Finance & Insurance Pty Ltd, Australian Credit Licence 384704.