491 Visa Home Loans: Buying a House on a Regional Visa

Yes — a 491 visa holder can buy property in Australia, with conditions. Until 30 June 2029 you are limited to new dwellings, off-the-plan purchases or vacant land to build on, you will need FIRB approval, and lenders will weigh your regional visa conditions when assessing the loan.

Can a 491 visa holder buy a house in Australia?

The short answer is yes, but not any house. The federal government has banned temporary residents from purchasing established dwellings from 1 April 2025 to 30 June 2029. As a 491 holder that leaves you with new dwellings, off-the-plan apartments and townhouses, or vacant land you commit to building on — each of which still needs Foreign Investment Review Board (FIRB) approval before you sign.

There is a 491-specific wrinkle: your visa requires you to live, work or study in a designated regional area. Lenders know this, and they look at where you are buying against your visa conditions. A purchase in the regional area where you already live and work supports your application; a purchase somewhere that sits outside your visa conditions invites questions from both the lender and, potentially, your migration adviser.

The main exception is buying jointly with an Australian citizen, permanent resident or eligible New Zealand citizen spouse or de facto partner as joint tenants — that puts established homes back on the table with no FIRB application. We cover exactly how that works in our guide to mixed-visa couples buying property.

What lenders will offer

Most lenders that accept 491 applicants cap lending at around 80% of the property value, meaning a deposit of roughly 20% plus purchase costs. A small number will consider higher ratios for a strong file — stable employment, clean credit and genuine savings history.

On income, lenders want the usual PAYG evidence — recent payslips, an employment contract, sometimes an employer letter. The 491 runs for five years, which is a longer runway than many temporary visas, and time remaining on the visa is something credit assessors genuinely look at.

Typical maximum LVR: Around 80% of the property value with most lenders that accept 491 applicants; a handful will consider more for strong files.

As at July 2026. Lender policies change without notice and every application is assessed case-by-case.

The costs

As a temporary resident buying in your own name you pay the FIRB application fee — indicatively around $15,100 for a purchase up to $1 million (confirm the current fee at firb.gov.au before you budget) — and, in Queensland, Additional Foreign Acquirer Duty (AFAD) of 8% on the foreign buyer’s share of the purchase, on top of standard transfer duty.

Run your own numbers with the foreign buyer duty calculator, and see our guide to FIRB approval for home buyers for the application process itself.

The PR horizon

The 491 leads to permanent residence through the subclass 191 visa after three years of living and working in a designated regional area and meeting the minimum income requirements. That gives you a reasonably predictable PR date to plan around.

Permanent residence changes everything at once: the FIRB requirement disappears, AFAD disappears, established homes come back into reach, and 5% deposit schemes open up to eligible buyers.