If you hold a 485 visa, you have probably asked yourself whether a bank will even look at your application. The short answer is yes. You can get a 485 visa home loan in Australia. But the rules differ from those for permanent residents, and in 2026 they also limit what you can buy.
Many temporary graduate visa holders get mixed answers from banks. This guide explains what lenders check, what property a temporary resident can buy, how FIRB approval works, and how much deposit you need. Everest Home Loans helps graduates in the Nepali-speaking community and other migrant communities through this process.
Key Takeaways
Yes, you can get a home loan on a 485 visa. Fewer lenders accept temporary graduate visa holders than some other visa types, so a broker can help you find the right lender.
Until 30 June 2029, temporary residents cannot buy established homes. New homes, off-the-plan and vacant land remain open.
FIRB approval is required before you buy. For new or near-new dwellings and vacant land, the fee is about $15,600 for a property up to $1 million in the 2026-27 financial year.
Plan for a 20% deposit plus costs where you can. A smaller deposit usually means paying lenders mortgage insurance.
Time left on your visa is a major factor. Apply while you still have a long runway.
Table of Contents
- Can You Get a Home Loan on a 485 Visa?
- What Can You Buy on a 485 Visa in 2026?
- What Is FIRB Approval and Do You Need It?
- How Much Deposit Do You Need on a 485 Visa?
- How Can You Improve Your Chances of Approval?
- Moving Forward
- Frequently Asked Questions
Can You Get a Home Loan on a 485 Visa?
Yes. A 485 visa holder can get a home loan in Australia. Lender policies on this visa subclass vary, though. The 485 is a temporary graduate visa with a fixed end date, and it does not guarantee permanent residency. That is why a smaller group of lenders handles many 485 loan applications.
Lenders weigh five things together. Your visa type is only one of them.
Visa length: how long you have left before your visa expires. Lenders look at this closely.
Work rights and income: full-time work in your field, ideally past probation.
Deposit: how much you have saved and where it came from.
Credit history: your Australian record of bills, phone plans and cards.
Pathway to permanent residency: a clear plan, such as a skilled 189, 190 or 491 application.
Eligibility criteria differ from lender to lender. Ask your broker which lenders accept a 485 visa, especially if you are self-employed or work casually. A student visa, a work visa and a 485 each carry different conditions, so a lender will look at your full visa history. Lenders also assess whether you can meet principal and interest repayments on your income, so a clean credit file and steady repayment history matter.
Take a graduate who moved from a student visa to a 485 and stayed with the same employer. That borrower can present a stronger case than someone who has just started a new job. Lending criteria change often, so the right lender matters more for 485 visa holders than for most other borrowers. Everest Home Loans works with a panel of 40+ lenders and checks current visa policy before an application goes in.
How Does a 485 Compare With Other Temporary Visas?
Each lender treats each visa subclass differently. A 482 work visa holder may have access to different lender options, because an employer sponsors the visa. Partner visa and bridging visa holders face their own rules. A 485 has no sponsor and a fixed end date, so lenders can view it differently. Lenders also check your visa conditions with the Department of Home Affairs, usually through a VEVO check, to confirm your work rights.
What Can You Buy on a 485 Visa in 2026?
This is the part many guides skip. Under foreign investment rules, a temporary resident counts as a foreign person. From 1 April 2025 to 30 June 2029, foreign persons cannot buy established homes in Australia, except in narrow cases. The Government extended the ban in the 2026-27 Budget. It was first due to end on 31 March 2027.
That means a 485 visa holder buying alone can look at:
New homes that no one has lived in before
Off-the-plan apartments and townhouses
Vacant land, with a home built on it
House and land packages, which are common in growth suburbs
Buying with a spouse who is an Australian citizen or permanent resident can change the picture. Different FIRB rules can apply to a joint application, depending on how you hold the title. Get advice before you sign anything. If you are thinking about building, your broker can explain how construction loans pay out in progress payments.
What Is FIRB Approval and Do You Need It?
FIRB approval is the Australian Government’s foreign investment approval, given by the Foreign Investment Review Board. A 485 visa holder needs it before buying residential property. Either get approval before you sign, or make the contract subject to it.
Fee: about $15,600 for a property up to $1 million, for new or near-new dwellings and vacant land from 1 July 2026 to 30 June 2027. Check the current fee at firb.gov.au.
Timing: allow time for the decision. Check current processing times at firb.gov.au.
Conditions: read the conditions in your approval letter, including how long you have to complete the purchase.
Several states charge a foreign purchaser surcharge on top of normal stamp duty. In New South Wales the surcharge is 9% for transactions from 1 January 2025, and in Victoria the foreign purchaser additional duty is 8%. This can add tens of thousands of dollars to your costs, so include it in your budget from day one. A broker can help line up your FIRB application with your loan approval to avoid delays from mismatched dates.
How Much Deposit Do You Need on a 485 Visa?
Plan for a 20% deposit where you can. A loan above 80% of the property value usually needs lenders mortgage insurance. Lender policies on this insurance for temporary residents vary, so check with your broker early.
Your deposit requirements also cover costs on top of the deposit:
The FIRB fee
Stamp duty, including any foreign purchaser surcharge
Legal and conveyancing fees
Loan and valuation fees
Lenders want to see where your money came from. Keep clear, regular savings records in an Australian account. Some lenders accept gifted funds from family, usually with a signed gift letter. Ask your broker first. Money sent from overseas needs a clear paper trail. The First Home Guarantee and first home owner grants are generally open only to an Australian citizen or permanent resident. These options may open up to you once you become a permanent resident.
How Can You Improve Your Chances of Approval?
Your chance of being approved comes down to timing, paperwork and a clean financial record. Start early in your visa, not in the final months.
Apply while you still have plenty of time left on your visa.
Stay in a stable full-time role and get past probation.
Keep personal loans, car finance and credit card limits low. They reduce how much you can borrow.
Pay every bill on time to build your Australian credit history.
Have your passport, visa grant notice, payslips and tax returns ready.
Get certified translations of any foreign-language documents.
Pricing differs between lenders. Compare the comparison rate and the loan features, not just the headline rate. A good mortgage broker can tell you which lenders want which documents. You can compare your options in our guide to bank vs broker home loans. Everest Home Loans supports clients in Nepali, Hindi and English, which removes a lot of guesswork for first-time buyers. You can also estimate your borrowing power before you start.
Moving Forward
A 485 visa does not rule out buying a home in Australia. You need the right lender, the right property type and the right timing. Visa length, a solid deposit and FIRB approval decide whether your application moves forward. If you want to know where you stand, book a consultation with Everest Home Loans to check your eligibility and borrowing power before you commit to anything. Our team works with clients in Sydney, Melbourne, Brisbane and Perth. You can also read more about Rajesh Kandel and his work with migrant families.
Frequently Asked Questions
Can I Buy a House on a 485 Visa Without Permanent Residency?
Yes, but only certain types of property. Until 30 June 2029, temporary residents cannot buy established homes. You can buy a new home, off-the-plan property or vacant land to build on, with FIRB approval and a lender that accepts your visa.
Do I Need a Guarantor to Get a 485 Visa Home Loan?
A guarantor is not always required. Guarantor options for temporary visa holders vary by lender. Read how a guarantor loan works and ask your broker before you plan around one.
What Happens to My Home Loan if My 485 Visa Expires Before I Get PR?
Your loan contract does not end when your visa does. You keep making repayments under the contract. Lenders assess the visa you hold at the time of application. If your visa is ending, speak to a registered migration agent about your options. Once you have permanent residency, you can review your loan and compare options.
How Long Does It Take to Get a Home Loan Approved as a 485 Visa Holder?
Pre-approval timing depends on the lender, so ask your broker for current turnaround times. FIRB processing times are published at firb.gov.au. For off-the-plan or a new build, final approval and settlement follow the construction timeline, which can take months.
General information only. This is not credit, legal or migration advice. Lender policies and government rules change, so get advice for your own situation.
Everest Home Loans operates under the Australian Credit Licence of Connective Credit Services (ACL 389328).
