HOME LOANS FOR TEMPORARY VISA HOLDERS AUSTRALIA

Yes. Many lenders will approve home loans for temporary visa holders who have stable income in Australia, a suitable deposit and enough time left on their visa. Lending rules are stricter than for citizens and permanent residents, so choosing a lender whose policy suits your visa is the key to approval.

The Foreign Investment Review Board (FIRB) reviews foreign investment in Australia, including residential property purchases by temporary residents. Most temporary visa holders buying on their own need FIRB approval before they buy, and an application fee applies. You don't need approval if you're buying with your Australian citizen or permanent resident spouse as joint tenants.

Australian citizens, permanent residents and New Zealand citizens don't need FIRB approval. Temporary residents buying with their Australian citizen, permanent resident or New Zealand citizen spouse as joint tenants are also exempt. Buying as tenants in common with a spouse doesn't qualify for this exemption.

Generally no. From 1 April 2025 until 30 June 2029, foreign persons including temporary residents are banned from buying established dwellings unless a limited exception applies. The main exception for most visa holders is buying with an Australian citizen or permanent resident spouse as joint tenants.

With FIRB approval you can buy a new home, an off the plan property or vacant land to build on. If you're buying with an eligible Australian spouse as joint tenants, you can also buy an established home.

Yes. The 482 Skills in Demand visa (formerly the TSS visa) is one of the visas lenders are most comfortable with, particularly when you have steady employment with your sponsor and at least 12 months left on your visa. Your deposit and borrowing limit will depend on your income and whether you're buying with an Australian partner.

Yes. Partner visa holders (820 and 309) often have strong options, especially when buying with their Australian citizen or permanent resident partner. In that situation, some lenders apply standard lending policy and will lend up to 95% of the property value.

It's possible, though harder. Lenders look at the visa you held before and the one you've applied for, and approval is assessed case by case. Buying with an Australian citizen or permanent resident partner makes approval much more likely. Expect lenders to ask for extra documentation.

Buying with an Australian citizen or permanent resident partner, you may need as little as 5% plus costs. Buying on your own, many lenders require at least 20%, and you'll also need to cover FIRB fees, foreign buyer stamp duty and legal costs.

Your borrowing power depends on your income, employment history, living expenses, existing debts, deposit and the lender's policy for your visa. Many temporary visa holders buying alone can borrow up to 80% of the property value, and higher amounts are possible in some situations. A free assessment will give you a clear figure.

Temporary residents buying in Queensland generally pay Additional Foreign Acquirer Duty of 8% on top of standard transfer duty. There's also a 3% land tax surcharge if the property is liable for land tax, the FIRB application fee, and a possible annual vacancy fee if the home sits empty for more than half the year.

In most cases no. Queensland's First Home Owner Grant requires at least one buyer to be an Australian citizen or permanent resident, and the federal Home Guarantee Scheme has the same requirement. If you're buying with an eligible partner, you may be able to access these programs together.

Some lenders will accept foreign income, although they usually count only part of it and may charge a higher rate. Income earned in Australia is assessed much more favourably. We can tell you which lenders will consider your overseas income and how it affects your borrowing power.

Yes, with FIRB approval you can buy a new dwelling or vacant land and rent it out. Established homes aren't available to temporary residents during the current ban. Investment loans for visa holders often need a larger deposit, so it's worth getting advice early.

Your loan continues as normal as long as you keep making repayments. If you become a permanent resident, you may be able to refinance to a better rate or product, because you'll qualify for standard lending policy. Talk to us when your PR is granted and we'll review your options with our refinancing service.