485 visa home loans: buying on a graduate visa

Start with our visa home loan guide or visa buying checker if you are comparing different subclasses.

A Temporary Graduate visa lets you live and work in Australia temporarily. It does not give you the permanent-resident exemption from foreign-investment rules. From 1 April 2025 to 30 June 2029, foreign buyers are generally prohibited from buying established homes. Limited exceptions apply.

Your solicitor should confirm the property classification and approval position. Arrange required approval before committing, or have them prepare a suitable contract condition. Our FIRB approval guide explains the process.

Be particularly careful with off-the-plan purchases. Settlement may be a year or more away. Your visa, job, property valuation and lender policy can change between paying the contract deposit and needing the home loan.

A purchase as joint tenants with your Australian citizen, permanent resident or eligible New Zealand citizen spouse can be exempt from FIRB approval. The qualifying spouse exemption can also allow an established-home purchase. A de facto relationship may qualify; have your solicitor check your relationship and proposed title.

The exemption does not automatically remove Queensland foreign buyer duty on your share. Nor does it mean the lender accepts a joint loan with a 485 borrower.

You can also ask about your citizen or permanent resident spouse owning the property alone. Some lenders allow one spouse on title and both on the loan, but we need specific confirmation for your 485 and household. Both borrowers would owe the debt, while only the owner holds the registered interest. Get legal advice on that difference.

Our mixed-visa couples guide explains ownership choices. The partner visa guide covers different visa subclasses; its lending options should not be assumed to apply to a 485.

Lender policy checked on 7 October 2026 shows Westpac and St George list 485 visas as unacceptable, and ANZ does not include the 485 among its accepted visas. That does not settle every possible household or lender option, but it shows why I would check policy before lodging an application.

There is no confirmed deposit percentage that suits every 485 applicant. We need to establish whether a lender accepts your application before quoting its maximum loan-to-value ratio (LVR). LVR is the loan as a percentage of the property value the lender accepts.

Home Affairs lists different stay periods for the 485 streams. The Post-Higher Education Work stream usually allows two to three years, with exceptions. Use the expiry date on your own grant rather than a general description online. A planned visa extension or PR application should not be treated as approved.

For a budget example, an 80% loan on a $600,000 property would be $480,000, leaving a $120,000 deposit before costs. This is a calculation, not a confirmed 485 lending limit. A lower valuation would leave you needing more cash. Use our deposit calculator to test the amounts.

If a suitable loan requires lenders mortgage insurance, include that cost too. Our LMI calculator gives an estimate. Compare the actual rate and fees offered; do not assume every temporary resident pays the same rate. Our lender reviews explain loan features and costs, but we first need to confirm which lenders accept your application.

Check policy before making several applications. A lender’s credit enquiry can appear on your credit report. Applying repeatedly will not fix a visa that is outside that lender’s policy.

Queensland additional foreign acquirer duty (AFAD) is generally 8% of the foreign buyer’s share of the value used for duty. Ordinary transfer duty is separate. A FIRB application fee may also be payable.

These figures assume a sole foreign buyer, a required individual FIRB application and no exemption or duty relief. They exclude the deposit, ordinary transfer duty, legal fees and loan costs. The FIRB amounts use the 2026-27 new-home fee band from $75,000 to $1 million. Different purchases can attract different fees.

For transactions entered into from 1 August 2026, Queensland home concessions have a citizenship or residency requirement. A 485 holder generally cannot claim the home concession on their share. An eligible co-owner may qualify separately.

Use our foreign buyer duty guide and Queensland stamp duty calculator for a starting estimate. Your solicitor should confirm the full amount for your ownership arrangement. Other states have different rules.

Mei is a software developer in Brisbane on a 485 visa. She is considering a $600,000 off-the-plan apartment and has $95,000 saved. If she buys alone and needs her own FIRB application, the two charges above total $63,600. That leaves $31,400 before ordinary duty, legal costs and the deposit.

I would pause the property search here and check whether the purchase is affordable. Her savings look very different once the buying costs are deducted.

If Mei saved another $2,000 a month for 12 months, she would add $24,000 and have $119,000 before interest or withdrawals. A permanent visa granted before the relevant purchase date could remove those FIRB and AFAD charges. She would still need a loan assessment and a full duty calculation.

That comparison also needs rent, possible price changes and a delayed visa decision. A skilled nomination alone would not make her a permanent resident.

Waiting deserves a proper calculation if a permanent visa is a realistic prospect. It can change the properties you can buy, the lender options and your buying costs. I would compare an earlier purchase with more than one possible grant date, rather than assume the decision will arrive within a year.

Ask a registered migration agent or immigration lawyer about the route available to you. Subclasses 189 and 190 are permanent visas. The 491 regional visa is provisional, so receiving one does not immediately give you the same property treatment as PR.

Employer-sponsored options such as the 482 and 494 have their own conditions. Moving from a graduate visa to another temporary or provisional visa also needs a fresh lending and purchase check.

After a permanent visa grant, you may be eligible for the 5% Deposit Scheme. Other requirements still apply. A joint scheme application cannot include a 485 borrower, even if their partner is an Australian citizen.

Our first home buyer guide, Queensland First Home Owner Grant guide and LMI waiver guide explain other assistance to check. We can also compare low deposit loans and guarantor loans where appropriate. A family guarantee does not remove the need for an acceptable visa.

If you wait, keep saving regularly and paying debts on time. Review the plan when your visa or employment changes. A later PR grant does not automatically refund costs triggered by an earlier purchase.

Send us your visa dates, income, savings and intended ownership arrangement. We can check whether there is a suitable lender option and compare the cash needed now with a later purchase.

If proceeding makes sense, we prepare the income and deposit evidence while your solicitor confirms approval requirements and duty. Allow time for any FIRB and finance conditions; a standard processing period is not a guaranteed decision date. We then work through valuation, loan documents and settlement with you.

Send us your visa details, income, savings and the property you're looking at. You can also call 1300 088 065.