482 or 494 Visa Home Loan: Can You Buy Property in Australia?

Key Takeaways

•        Yes, 482 and 494 visa holders can buy property and get a home loan in Australia.

•        You will usually need FIRB approval and are limited to new homes, not established ones.

•        Expect a larger deposit, often 20%, though a clear PR pathway can improve your terms.

•        Buying with a citizen or permanent resident partner removes most of the restrictions.

If you are working in Australia on a 482 (Skills in Demand) or 494 (Skilled Employer Sponsored Regional) visa, buying a home is a natural next step, and the good news is that it is possible. You can get a home loan and own property here. But as a temporary visa holder, you face a different set of rules from citizens and permanent residents, around approvals, the type of property you can buy, and how much you can borrow.

This guide explains exactly what is involved for 482 and 494 holders: the FIRB step, the deposit you will need, how your visa stream and pathway to permanent residency affect your options, and the one situation that changes everything. It is general information, not financial, migration, or legal advice; for the visa and approval side, a registered migration agent and your conveyancer are the right people to confirm the details.

Buying on a temporary visa raises many questions, and we are happy to answer them. You can read common questions about visa home loans or talk it through with us, with no cost and no pressure.

Yes, You Can Buy, With Conditions

Start with the headline: a 482 or 494 visa does not stop you from owning a home in Australia.

Both visas let you live and work in Australia, and lenders will consider you for a home loan, especially when you are earning Australian dollars in stable employment. What changes, compared with a citizen or permanent resident, is that you are treated as a foreign person under Australia's foreign investment rules. That brings three main differences: you generally need government approval to buy, you are limited in the types of property you can buy, and lenders usually require a larger deposit. None of these are dealbreakers; they just need planning.

FIRB Approval and What You Can Buy

The first step that sets temporary visa holders apart is the foreign investment approval process.

As a 482 or 494 holder, you are usually required to get approval from the Foreign Investment Review Board (FIRB) before you buy, through an application that carries a fee based on the property's value. Just as importantly, since April 2025, temporary visa holders have been limited to new dwellings, off-the-plan apartments, or vacant land to build on; established, or second-hand, homes are off the table. That restriction was extended in the 2026 Budget and now runs until 30 June 2029. So in practice, your search will focus on new builds rather than established houses, unless you fall under the partner exception below.

How Much You Can Borrow

The second big difference is the size of the deposit and the loan.

Lenders see temporary visa holders as carrying a little more risk, so they typically cap how much they will lend. Many lenders will go to a loan-to-value ratio (LVR) of 80%, meaning a 20% deposit, and some will stretch to 90% with lenders' mortgage insurance (LMI) for strong applicants. On top of the deposit, you need funds for the FIRB fee and, in most states, a foreign-buyer stamp duty surcharge of around 7% to 8% of the price, though there is none in the ACT or Northern Territory. Reassuringly, your interest rate is often the same as a resident would get with the right lender; the difference is usually in the deposit and the costs, not the rate. If your income is paid in Australian dollars, lenders generally assess it as they would for a local borrower.

Your Visa Stream and PR Pathway Matter

Not all temporary visa holders are viewed the same way; your stream and your path to permanent residency make a real difference.

Lenders look closely at how settled and long-term your situation is. A 482 holder on a stream with a clear pathway to permanent residency, or with a permanent residency nomination already lodged, is seen as much closer to a local borrower, and some lenders will then lend up to 90% or even 95%, on terms approaching a citizen's. The 494, being a regional provisional visa with its own pathway to permanent residency, is viewed in a similar light. The more time remaining on your visa, the stronger your case; most lenders prefer to see at least 12 months left. If permanent residency is close, it can be worth talking through the timing with your migration agent, because it can materially improve your borrowing terms.

The Game-Changer: Buying With a Citizen or PR Partner

If you have a spouse or de facto partner who is an Australian citizen or permanent resident, almost all of the restrictions above can fall away.

When you buy jointly, as joint tenants, with a partner who is a citizen or permanent resident, you are generally treated like a local couple. FIRB approval is usually not needed; the new-dwellings-only restriction does not apply, so established homes are back on the table, and the foreign-buyer stamp duty surcharge is typically waived, which alone can save tens of thousands of dollars. Lenders also tend to lend more, often up to 90% or 95% of the value. For many couples where one partner is on a 482 or 494, and the other is local, buying together is comfortably the simplest and cheapest route. The exact ownership structure matters here, so confirm it with a conveyancer before you sign.

Getting Your Application Ready

A temporary visa application asks for a little more, so being organised pays off. Lenders and the approval process will generally want:

•        Your visa details. Your visa grant letter, with enough time remaining, ideally at least 12 months.

•        Proof of income. Recent payslips, an employment contract, and tax returns if you are self-employed.

•        Evidence of your deposit. Genuine savings, plus funds set aside for the FIRB fee and any surcharge.

•        A sense of your plans. Stable local employment and ties to Australia reassure lenders that you intend to stay.

Because lenders' policies vary widely for visa holders, and some lenders will not consider temporary residents at all, matching your visa and situation to the right lender is key to a smooth approval.

A Real-World Example: A 482 Holder Buys a New Home

Here is how it can come together, with round figures. Treat it as a guide only.

Mateo is in Australia on a 482 visa, earning a steady salary in his sponsored role, with a permanent residency nomination lodged through his employer. He assumed his visa would rule out buying, but it did not. Because his established-dwelling options were limited, he focused his search on a new off-the-plan apartment.

With his FIRB approval in place and a 10% deposit, his broker placed him with a lender that, given his lodged permanent residency nomination and Australian income, lent at 90% of the value with lenders' mortgage insurance, on a rate in line with what a local would receive. Mateo budgeted for the FIRB fee and the state surcharge up front, and bought his first home while his permanent residency was still being processed.

Where to Read More

If you need foreign investment approval, the Australian Taxation Office sets out how to apply for foreign investment approval to buy residential property.

Frequently Asked Questions (FAQs)

Can I get a home loan on a 482 or 494 visa?

Yes. Both the 482 and 494 are temporary work visas that let you live and work in Australia, and many lenders will consider you for a home loan, particularly when you earn Australian dollars in stable employment. The conditions are stricter than for a citizen or permanent resident, mainly around approvals, property type, and deposit. With the right lender and good preparation, plenty of 482 and 494 holders buy successfully. A broker who works with visa holders can point you to lenders that accept your visa.

Do I need FIRB approval?

In most cases, yes. As a 482 or 494 holder, you are treated as a foreign person, so you generally need approval from the Foreign Investment Review Board before you buy, with an application fee based on the property's value. The main exception is buying jointly, as joint tenants, with a spouse or de facto partner who is an Australian citizen or permanent resident, which usually removes the requirement. A conveyancer can confirm whether you need approval for your specific purchase before you commit.

Can I buy an established house?

Usually not on your own. Since April 2025, temporary visa holders have been limited to new dwellings, off-the-plan properties, or vacant land, with established homes off the table, and that restriction now runs until 30 June 2029. The exception is if you buy with an Australian citizen or permanent resident partner, in which case established homes become available again. So if you are buying alone on a 482 or 494, expect to focus on new builds. A broker and conveyancer can help you understand what fits your situation.

How big a deposit do I need?

Generally, larger than what a citizen would need. Many lenders cap lending at 80% of the value for temporary visa holders, which means a 20% deposit, though some will go to 90% with the lender's mortgage insurance for strong applicants with a clear path to permanent residency. On top of the deposit, budget for the FIRB fee and, in most states, a foreign-buyer stamp duty surcharge. Saving a larger deposit also opens up more lenders. A broker can tell you what deposit a particular lender will want for your visa.

Will I pay a higher interest rate?

Often not. With the right lender, temporary visa holders earning Australian dollars can access the same competitive rates and discounts as citizens and permanent residents; there is no automatic temporary-resident premium. The real differences tend to be the larger deposit, the FIRB fee, and the foreign-buyer surcharge, rather than the interest rate itself. The exception can be foreign income, which some lenders discount. A broker can find a lender that prices your loan like a local's.

What if my partner is an Australian citizen or PR?

It improves your position considerably. Buying jointly, as joint tenants, with a citizen or permanent resident partner generally removes the need for FIRB approval, lifts the new-dwellings-only restriction so established homes are back in play, and usually waives the foreign-buyer stamp duty surcharge. Lenders also tend to lend more, sometimes up to 95% of the value. For couples in this position, it is by far the simplest route. A conveyancer can confirm the right ownership structure to secure those benefits.

The Bottom Line

If you are on a 482 or 494 visa, you can buy property and get a home loan in Australia. The path looks different from a citizen's: you will usually need FIRB approval, you are limited to new homes rather than established ones, and you should expect a larger deposit plus the FIRB fee and a foreign-buyer surcharge. Your interest rate, though, is often the same as a local's with the right lender, and a clear pathway to permanent residency strengthens your hand considerably.

The single biggest factor in your favour is a citizen or permanent resident partner, which removes most of the restrictions at once. Wherever you sit, the rules around visas, approvals, and state surcharges are worth getting right, so if you would like help understanding what is possible on your visa and finding a lender that accepts it, we are here to help, with no cost and no pressure.