In short: The usual road for a Nepali graduate runs from the subclass 500 student visa to the subclass 485 post-study work visa, then to permanent residency through state nomination (190), a regional 491 leading to the 191, or employer sponsorship on the 482 leading to the 186. The 485 years are when you build the savings, credit history and work record a home loan will depend on.
Key takeaways
- The 485 is a temporary visa; for property law you remain a foreign person until PR is granted.
- Since 8 January 2026 Nepal sits at Assessment Level 3 for student visas, so financial evidence is checked up front and more thoroughly.
- Skills assessment, English test, visa charges and health checks add up to several thousand dollars per adult; budget for them before the deposit.
- Lenders that accept 485 applicants usually want a decent period of visa validity remaining, a permanent job and a 20% deposit.
- Buying on a 485 usually means a new dwelling only, FIRB approval and 8% foreign purchaser duty in Victoria, which is why most graduates wait for PR.
Nepali students arrive in Melbourne and Sydney every year to study nursing, accounting, IT, early childhood education and cookery, and most want permanent residency and then a home. This post lays out the visa sequence, the costs to budget for, and how lenders treat each stage. We are a mortgage broker, so for the visa strategy itself use a MARA-registered agent and the current rules on Home Affairs.
The sequence, stage by stage
| Stage | Visa | What you are doing | Money priority |
|---|---|---|---|
| Study | Subclass 500 | Completing a CRICOS course; part-time work within visa limits | Stay debt-free, open a savings habit, get a tax file number |
| Graduate work | Subclass 485 | Working full-time in or near your field; gaining Australian experience | Build genuine savings, a clean credit file and a stable job |
| Nomination or sponsorship | 190, 491 or 482 | Skills assessment, English test, expression of interest, or an employer nomination | Keep saving; avoid new debt; hold documents ready |
| Permanent residency | 190, 191, 186 or 189 | Grant of PR | Buy with the First Home Guarantee if eligible |
How long the 485 lasts depends on your qualification and when you applied, and it has changed more than once. Check the current period on Home Affairs.
The study years
Since Nepal moved to Assessment Level 3 on 8 January 2026, student visa applicants must show full financial capacity and English evidence with the application and expect manual checking. Our post on the Assessment Level 3 change covers the evidence in detail.
The 485 years
This is the make-or-break period financially. Your Australian income starts here, which means your genuine savings, employment history and credit file all start here too. Lenders will look back at these years when you eventually apply for a home loan, so treat them as the first two years of your mortgage application.
Choosing the PR route
Nursing and early childhood graduates often find state nomination fastest. Accounting and IT graduates face higher points competition and frequently accept a 482 sponsorship, taking the two-year 186 route described in our 482 to 186 post. Cookery graduates commonly go regional on a 491.
Costs to plan for
Home Affairs and the assessing bodies publish current fees, which change each July, so here is the list to price yourself.
- Skills assessment through the relevant body (ANMAC for nurses, CPA or CA ANZ for accountants, ACS for IT, VETASSESS for many others).
- An English test (IELTS, PTE Academic or OET), plus a retake if you fall one band short.
- The visa application charge for each visa in the chain, for you and any partner or child.
- Health examinations and police certificates from Nepal and Australia.
- A migration agent's professional fee if you use one.
- Nomination fees for the 190 or 491 in some states.
For most single applicants this totals several thousand dollars per visa stage. Put that money aside in a separate account before you count anything as a home deposit; the Moneysmart budget planner is a free way to track it.
Worked example: a nursing graduate in Melbourne's north
Sabina finishes her Bachelor of Nursing in Bundoora, gains AHPRA registration and takes a graduate position at a hospital in Epping on about $78,000 a year. On the 485 she rents a room in Mill Park for $260 a week and saves $1,000 a fortnight into a high-interest account.
| Item | Amount |
|---|---|
| Savings after two years on the 485 | $52,000 |
| Set aside for visa, assessment and English costs | $8,000 |
| Remaining towards a home | $44,000 |
| Deposit needed at 5% on a $600,000 home (First Home Guarantee after PR) | $30,000 |
| Buffer for conveyancing, moving and a rate rise | $14,000 |
After her 190 grant she qualifies as a first home buyer: no LMI, no Victorian duty on a $600,000 purchase, and a loan of $570,000, which for illustration at 6.00% p.a. over 30 years costs about $3,417 a month. Had she bought a new townhouse on the 485 instead, she would have needed a 20% deposit ($120,000), FIRB approval and $48,000 in foreign purchaser duty. Try your own figures in the deposit savings calculator.
How lenders treat 485 visa holders
At the time of writing, lending to 485 holders is a niche rather than a mainstream product. Policies vary widely, and this is broadly what we see:
- Most lenders want a meaningful period of visa validity remaining, and prefer evidence that a PR application is lodged or imminent.
- A permanent full-time role beyond probation is expected; casual and contract income is heavily discounted.
- A deposit of 20% is standard. A small number of lenders go higher with an Australian citizen or PR co-borrower or guarantor.
- FIRB approval is required and the purchase must be a new dwelling or vacant land while the established-home ban runs (extended to 30 June 2029).
- The source of the deposit must be lawful and documented. Nepal Rastra Bank prohibits capital transfers out of Nepal to buy property abroad, so deposits built from Australian income or documented gifts from family in Australia are the safe framing. Read home loans for visa holders for the lender view.
Because the choice of lender matters more than the rate at this stage, a broker who knows which credit teams accept 485 applications saves you a declined application and a hit to your credit score.
Frequently asked questions
Can I get a home loan on a 485 visa in Australia?
Sometimes. A few lenders lend to 485 holders who have stable full-time work, a 20% deposit and enough visa time remaining, and the purchase must be a new dwelling or land with FIRB approval. Many graduates find it cheaper to wait for PR and use the First Home Guarantee with a 5% deposit and no LMI.
Should I save for a deposit or pay for a migration agent first?
Pay for the visa steps first. A refused or delayed application costs you far more than an agent's fee, and no deposit helps if you cannot stay. Keep the visa fund in a separate account so that lenders can still see clean, steady savings in your main account when you apply for a loan.
Does my student loan or Nepali family debt affect an Australian home loan?
Australian lenders assess debts that appear on your Australian credit file and any liabilities you declare. Loans in Nepal are not on your file, but you must declare them honestly and a lender may count repayments you send home. Check the borrowing power calculator with those commitments included.
When does my Australian credit history start?
From your first credit product or utility account in your own name. Two years of a mobile plan paid on time and a small credit card cleared monthly gives lenders comfort. Avoid buy-now-pay-later accounts; some lenders treat them as a warning sign.
Talk to GNT Finance
If you are on a 485 and want to know exactly what you should be doing this year so that the loan is easy after PR, we will map it with you, in English, Nepali or Hindi. There is no cost to you for our home-loan service in most cases. Book a free consultation or call 0426 403 703. Graduates in Sydney can reach us through our Sydney mortgage broker service by phone and video.
This is general information, not migration, legal, tax or credit advice. Migration rules change often — confirm with a registered migration agent (MARA) or the Department of Home Affairs.
Written by Gorakh Timilsina
Founder, CEO & Senior Mortgage Consultant at GNT Finance. Gorakh started as a broker assistant, spent years as a senior credit officer assessing loan applications, and now helps Melbourne families get the right loan approved. English, Nepali and Hindi spoken.