Can you buy a home on a 491 visa?
You can buy on a subclass 491, subject to the property rules and lender approval. New homes and land may be available. A qualifying purchase with your citizen or permanent resident spouse can also open up established homes.
I would compare the full cost of buying now with waiting for permanent residency before you start making offers.
Our visa home loan guide covers other subclasses. The visa buying checker can help you work out which purchase rules to check.
Buying alone
Allow for foreign buyer costs as well as the deposit.
Buying with your spouse
Check the names on the title and loan together. They affect different parts of the purchase.
Waiting for permanent residency
Compare possible savings with rent and price changes. A future visa decision date is uncertain.
What property can a 491 holder buy?
From 1 April 2025 to 30 June 2029, foreign buyers are generally restricted from buying established homes. Limited exceptions apply. The 491 is a five-year provisional visa, so it does not give you the permanent-resident exemption.
| Property | What to check |
|---|---|
| New home or off-the-plan | You will generally need foreign investment approval, often called FIRB approval. A developer exemption certificate may cover some purchases. Your solicitor should confirm whether it covers yours. |
| Vacant residential land | Approval generally requires building to be completed within four years and prevents selling before completion. Check the conditions on your approval. |
| Established home | A qualifying spouse purchase as joint tenants can be exempt. Otherwise, the general restriction applies unless another exception covers the purchase. |
Property options while you hold a 491
New home or off-the-plan
- What to check
- You will generally need foreign investment approval, often called FIRB approval. A developer exemption certificate may cover some purchases. Your solicitor should confirm whether it covers yours.
Vacant residential land
- What to check
- Approval generally requires building to be completed within four years and prevents selling before completion. Check the conditions on your approval.
Established home
- What to check
- A qualifying spouse purchase as joint tenants can be exempt. Otherwise, the general restriction applies unless another exception covers the purchase.
Arrange required approval before committing, or have your solicitor prepare a suitable contract condition. Off-the-plan buyers also need to allow for changes in their visa, income and loan options before settlement. Read our FIRB approval guide before signing.
Does the property have to be in a regional area?
While you are in Australia on a 491, any work or study you do, and the place you live, must be in a designated regional area. Check the postcode against the rules applying to your visa grant. The regional definition includes places such as the Gold Coast, Sunshine Coast and Toowoomba; Brisbane is outside it.
For a home you plan to live in, its location needs to fit those conditions. Owning an investment elsewhere is a separate question from moving there. Get migration advice on your plans and have your solicitor check the purchase rules.
I would also check the lender accepts the property and location before you pay for inspections or a contract review.
How much deposit will you need?
There is no single borrowing limit for 491 holders. The lender, remaining visa term, income and property all matter. Loan-to-value ratio (LVR) means the loan as a percentage of the property value the lender accepts.
| Lender | Recorded 491 position |
|---|---|
| Pepper Money | Up to 95% LVR depending on product tier, residency pathway and the full application. |
| CommBank | Up to 80% LVR. The purchase must also meet foreign-investment rules. |
| NAB | Up to 70% LVR. Its recorded temporary-resident rules also apply to mixed-visa applications, even if one income is unused. |
| Bankwest | Up to 70% LVR for an owner-occupied loan with the 491 holder as main applicant. |
Examples from our lender policy records, checked 7 October 2026
- Recorded 491 position
- Up to 95% LVR depending on product tier, residency pathway and the full application.
- Recorded 491 position
- Up to 80% LVR. The purchase must also meet foreign-investment rules.
- Recorded 491 position
- Up to 70% LVR. Its recorded temporary-resident rules also apply to mixed-visa applications, even if one income is unused.
- Recorded 491 position
- Up to 70% LVR for an owner-occupied loan with the 491 holder as main applicant.
These are dated policy examples. We need to confirm current policy before recommending a loan. A maximum LVR does not guarantee that loan amount or mean it is the cheapest option. Use our lender reviews to compare rates, features and fees, and allow for any lenders mortgage insurance.
On a $650,000 purchase, an 80% loan is $520,000 and leaves a $130,000 deposit. Purchase costs are extra. A lower bank valuation can increase the cash you need. Use our deposit calculator and mortgage calculator to test your budget.
| Document | What it helps us check |
|---|---|
| Visa grant and current VEVO visa-status check | Your subclass, conditions and time remaining. |
| Recent payslips and employment contract | Income, work location and employment. The lender may also need an employer letter. |
| Bank statements and deposit records | Savings, living costs and any gifted money. |
| Debt and partner details | Repayments, credit limits and whose income the lender can use. |
Documents to have ready
Visa grant and current VEVO visa-status check
- What it helps us check
- Your subclass, conditions and time remaining.
Recent payslips and employment contract
- What it helps us check
- Income, work location and employment. The lender may also need an employer letter.
Bank statements and deposit records
- What it helps us check
- Savings, living costs and any gifted money.
Debt and partner details
- What it helps us check
- Repayments, credit limits and whose income the lender can use.
Tell us about overseas earnings too. Lenders treat that income differently, so I would check how much they will count before setting your budget.
What extra costs apply in Queensland?
Additional foreign acquirer duty (AFAD) is generally 8% of the foreign buyer’s share of the value used for duty. It sits on top of ordinary transfer duty. A separate FIRB fee may also apply.
| Purchase price | AFAD at 8% | Ordinary FIRB fee | Combined charges |
|---|---|---|---|
| $500,000 | $40,000 | $15,600 | $55,600 |
| $650,000 | $52,000 | $15,600 | $67,600 |
| $750,000 | $60,000 | $15,600 | $75,600 |
These calculations assume you acquire the whole property, need your own FIRB application and receive no exemption or duty relief. They exclude ordinary transfer duty, the deposit, legal costs and loan costs. The FIRB figures use the 2026-27 new-home fee band of $75,000 to $1 million. Other bands and established-home applications have different fees.
For transactions entered into from 1 August 2026, Queensland home concessions also have a citizenship or residency requirement. A 491 alone generally does not qualify. An eligible co-owner may qualify on their own share.
Use our foreign buyer duty guide and Queensland stamp duty calculator for an initial budget, then ask your solicitor to confirm the amounts. Other states have different rules.
Tomas and Elena: who owns a $650,000 home?
Tomas holds a 491 and works in Toowoomba. His wife Elena is an Australian citizen. They are considering a $650,000 new home. This is how I would compare their ownership options.
| Owners | FIRB fee | Queensland AFAD |
|---|---|---|
| Tomas alone | $15,600 | $52,000 on the whole property |
| Both spouses as joint tenants | No application under the qualifying spouse exemption | $26,000 on Tomas’s half share, before any relief |
| Elena alone | No application as an Australian citizen | $0, assuming Tomas acquires no interest |
Three ownership options for the same home
Tomas alone
- FIRB fee
- $15,600
- Queensland AFAD
- $52,000 on the whole property
Both spouses as joint tenants
- FIRB fee
- No application under the qualifying spouse exemption
- Queensland AFAD
- $26,000 on Tomas’s half share, before any relief
Elena alone
- FIRB fee
- No application as an Australian citizen
- Queensland AFAD
- $0, assuming Tomas acquires no interest
Elena being the only owner does not automatically mean the loan can use only her income. Some lenders allow spouses to borrow together with one owner. We would need specific confirmation that the lender accepts Tomas’s 491 and their proposed arrangement.
If both borrow, both are responsible for the loan. Tomas would not be a registered owner in Elena’s sole-title option. They need legal advice on their rights before choosing it. Our mixed-visa couples guide explains the choices.
Should you wait for a subclass 191 grant?
You may be eligible to apply for the permanent subclass 191 after holding an eligible regional provisional visa for at least three years and meeting the other requirements. Those include complying with visa conditions and supplying ATO notices of assessment for three income years out of the five years of the eligible visa. There is no minimum income requirement for that visa.
Three years is an eligibility milestone. It is not a promised grant date. Ask a registered migration agent or immigration lawyer to assess your eligibility and timing before building a purchase plan around it.
A permanent visa held before purchase can remove the FIRB application requirement and Queensland AFAD. It also changes the established-home rules. A grant after signing does not automatically refund costs already triggered by the contract.
In the $750,000 new-home example above, FIRB and AFAD total $75,600. An exempt permanent-resident buyer would avoid those two charges. Ordinary duty and any concessions still need separate calculations.
I would compare that saving with the rent you expect to pay, possible price changes and how long you may actually wait. Test a longer wait too, so your plan can cope with a delayed decision.
Permanent residents can also explore low deposit loans and the 5% Deposit Scheme, subject to eligibility. A joint scheme loan cannot include a 491 borrower.
Our first home buyer guide, Queensland First Home Owner Grant guide and LMI waiver guide cover other help. Each has its own rules.
Before you apply
Send us your visa details, income, savings and intended property location. We can check lender options while your solicitor confirms ownership, approval and duty. Get migration advice if the move could affect your regional conditions.
Before signing, allow enough time for any FIRB and finance conditions. A standard decision period is not a guaranteed approval date. We then work through the valuation, loan documents and settlement with you and your solicitor. Read how our Brisbane mortgage brokers can help.
If your visa changes, use the matching guide: 494 regional employer-sponsored, 482 skilled worker or 485 graduate.
Frequently asked questions
Send us your visa details, income, savings and the property you're looking at. You can also call 1300 088 065.
Check your loan options before making an offer
Sources
How this guide was checked
Government guidance checked on 6 October 2026. The lender examples use policy records checked 7 October 2026. Confirm current lender policy before relying on a borrowing limit.
General information only. Get legal, tax and migration advice for your circumstances before committing to a purchase.
Sources
Tomas and Elena are fictional. The example compares ownership costs and assumes no AFAD relief. It excludes ordinary transfer duty and other purchase costs and does not represent a loan approval.