In short: Yes, you can buy property and get a home loan on a 482, 491 or 494 visa, but you need FIRB approval, a deposit of usually 20%, and in Victoria you pay an extra 8% foreign purchaser duty on top of normal stamp duty. Until 30 June 2029, temporary residents are generally limited to new dwellings, off-the-plan and vacant land, not established homes.
Buying on a temporary visa is possible, and GNT Finance arranges these loans regularly for skilled workers across Melbourne's north and west, but the costs and rules are different enough from a citizen's purchase that you need to see the whole picture before you sign anything. This guide covers what you can buy, what it costs, how lenders treat each visa, and when waiting for PR is smarter.
What temporary residents can buy right now
Under Australia's foreign investment rules, a temporary resident is a foreign person and needs approval from the Foreign Investment Review Board (FIRB) before buying residential property. What changed in 2025 is the type of property you can buy.
From 1 April 2025 to 30 June 2029 the federal government has paused foreign persons, including temporary residents, from buying established dwellings, with limited exceptions. The ban originally ran to 31 March 2027; the 2026–27 Budget extended it by a further two years and three months. At the time of writing that leaves three main paths:
- A new dwelling that has not been previously sold or occupied, such as a newly built townhouse in Wollert.
- An off-the-plan apartment or townhouse bought before or during construction. See buying off the plan.
- Vacant residential land, on condition you build within four years. See construction loans.
The exceptions are narrow, so confirm the current position on the FIRB website before you start looking. Our FIRB approval for property page explains the application itself.
FIRB application fees
The fee depends on the price of the property and is paid per application, whether or not you complete the purchase. It is substantial, and it is the cost temporary residents most often underestimate. Under the 2026–27 schedule, residential land that is not an established dwelling — a new dwelling, an off-the-plan apartment or vacant land to build on — attracts a fee of $15,600 where the consideration is $1 million or less, $31,300 up to $2 million and $62,600 up to $3 million. Fees on established dwellings are triple the equivalent tier ($46,800 at $1 million or less), though foreign persons are generally banned from buying established homes at present. Fees are indexed on 1 July each year, so confirm the current tier before you budget. (Source: Treasury, Schedule of Fees version 8, 1 July 2026, foreigninvestment.gov.au — checked 2 September 2026.) You can apply for a specific property or for an exemption certificate covering any eligible property up to a set value.
Victorian government charges for foreign purchasers
Foreign purchaser additional duty
Victoria charges foreign purchasers an additional 8% of the dutiable value on top of the standard land transfer duty.
| $650,000 new townhouse in Wollert | Amount |
|---|---|
| General land transfer duty | $34,070 |
| Foreign purchaser additional duty (8%) | $52,000 |
| Total duty | $86,070 |
| FIRB application fee | $15,600 on top |
A permanent resident buying the same townhouse would pay $34,070. The foreign purchaser additional duty page sets out who is caught and the limited exemptions; the stamp duty calculator will show both figures side by side.
Absentee owner surcharge and vacant residential land tax
If you leave Australia and become an absentee owner, Victoria adds a 4% surcharge to land tax on the property. Your principal place of residence is exempt from land tax, but a temporary resident who buys, then moves overseas and rents it out, can be hit. Separately, vacant residential land tax applies to homes left empty for more than six months in a calendar year.
How lenders treat each visa type
Visa policies differ by lender and change often; the table shows typical current treatment.
| Visa | Typical lender treatment | Max LVR (typical) | FIRB needed | 8% FPAD applies | First Home Guarantee / FHOG |
|---|---|---|---|---|---|
| 482 Skills in Demand | Widely accepted; 12+ months remaining and stable AUD income preferred | 80%, some lenders 90% with LMI | Yes | Yes | No / No |
| 491 Skilled Work Regional (Provisional) | Often treated like 482 given the PR pathway | 80%, some 90% | Yes | Yes | No / No |
| 494 Employer Sponsored Regional (Provisional) | Similar to 491; employer sponsorship viewed favourably | 80%, some 90% | Yes | Yes | No / No |
| 485 Temporary Graduate | Rarely lent to; short duration and no PR pathway on its own | 80% with a small number of lenders | Yes | Yes | No / No |
| 500 Student | Almost never lent to on own income | Not typically available | Yes | Yes | No / No |
| 820 Partner (temporary) | Often near-PR treatment because the 801 permanent stage usually follows | 90% to 95% with some lenders | Yes, unless buying jointly with the citizen or PR partner as joint tenants | Yes, unless an exemption applies | No / No unless a co-buyer is a citizen or PR |
| Permanent resident | Same as an Australian citizen | 95% | No | No | Yes / Yes |
The First Home Guarantee requires every applicant to be a citizen or permanent resident. The Victorian First Home Owner Grant requires at least one applicant to be a citizen or PR, so a 482 holder buying alone gets neither. A couple where one partner is a PR may qualify for the grant on a new home. Our home loans for visa holders page lists what each lender on our panel currently accepts.
What lenders require from a temporary resident
- Visa time remaining. Most want at least 12 months left. A visa expiring in six months will need a renewal or PR application on foot.
- Income in Australian dollars. Salary from an Australian employer, with payslips and a tax file number. Overseas income is generally not counted.
- A larger deposit. Typically 20% plus costs, which means 20% of the price plus roughly 16% for duty, FPAD and the FIRB fee on a Victorian purchase. Some lenders go to 90% with LMI for strong 482 and 491 applicants.
- No government schemes. No First Home Guarantee, no FHOG, no first-home duty exemption. You pay full general duty plus the surcharge.
- Possible rate loading. Some lenders add a margin for temporary residents; many do not, so compare.
- Serviceability at rate plus 3 percentage points, the same as any borrower.
Worked example: a 482 visa nurse in Epping
Maya is a registered nurse on a 482 visa with three years remaining, earning $98,000 at a hospital in Melbourne's north. She has saved $170,000 over five years, partly transferred from Nepal with full documentation. She wants a $600,000 new townhouse in Epping.
| Item | Amount |
|---|---|
| Purchase price | $600,000 |
| Deposit (20%) | $120,000 |
| Loan | $480,000 |
| General land transfer duty | $31,070 |
| Foreign purchaser additional duty (8%) | $48,000 |
| Total duty | $79,070 |
| FIRB application fee | $15,600 |
| Conveyancing, inspections, adjustments | About $3,000 |
| Cash needed at settlement | Roughly $218,000 |
Maya's $170,000 is not enough for a 20% deposit plus costs. Her options are a 90% loan with LMI from one of the lenders that accepts 482 holders at that level, a smaller purchase, or waiting. If she receives PR in 18 months, the same townhouse purchase would cost $31,070 in duty rather than $79,070, with no $15,600 FIRB fee to pay, and she could use the First Home Guarantee with a 5% deposit and no LMI. That is the calculation every temporary resident should run. Our Epping mortgage broker and Wollert mortgage broker pages cover the new-build stock in those suburbs.
Strategies temporary residents use
Wait for permanent residency
For 482, 491 and 494 holders with a clear PR pathway, waiting is often best. On a $650,000 purchase, PR saves $52,000 in foreign purchaser duty plus the $15,600 FIRB fee — about $67,600 in total — opens up established homes, unlocks the First Home Guarantee and, on a new home under $750,000, the $10,000 grant. See home loans for new migrants for how to use the waiting time well.
Buy jointly with a citizen or PR partner
If your spouse or de facto partner is an Australian citizen or permanent resident, buying together changes the picture. FIRB approval is not required where a temporary resident buys a home as joint tenants with an Australian citizen or PR spouse. Victoria also offers an exemption from foreign purchaser additional duty for a foreign spouse buying a principal place of residence jointly with a citizen or PR partner, subject to conditions. Confirm your eligibility with the SRO at sro.vic.gov.au before you rely on it, and note that the loan is assessed on both incomes.
Buy new and hold long term
If PR is years away and your visa is secure, buying a new dwelling now and accepting the surcharge can still make sense, particularly if rent is rising faster than your deposit.
Checklist for buying on a temporary visa
- Current visa grant notice with expiry date and conditions, and evidence of any PR application lodged.
- Employment contract, three payslips and the most recent income statement from the ATO.
- Six months of Australian bank statements with the deposit visible and every large transfer explained.
- Overseas transfer receipts if any deposit funds came from abroad.
- FIRB approval or exemption certificate before signing, or a contract conditional on FIRB approval.
- Budget line for the 8% surcharge, the FIRB fee and general duty, on top of the deposit.
- Loan pre-approval from a lender that accepts your visa subclass at your LVR.
Common mistakes
Signing a contract before FIRB approval. Buying without approval is an offence with serious penalties, and a contract not conditional on FIRB leaves you exposed if approval is refused. Always make it a condition.
Assuming the First Home Owner Grant applies. It requires at least one applicant to be a citizen or PR. On a temporary visa alone you get nothing.
Not budgeting the 8%. On a $650,000 purchase that is $52,000 of cash you cannot borrow. It surprises people at settlement, which is too late.
Buying an established home by mistake. Under the current federal pause a "renovated" or "as new" house is still established. Check the dwelling's status in writing.
Letting the visa run down. Applying with four months left on a 482 makes most lenders nervous. Apply for renewal or PR first.
Frequently asked questions
Can I get a home loan on a 482 visa?
Yes. Several lenders lend to 482 Skills in Demand visa holders with stable Australian income and at least 12 months remaining on the visa, typically up to 80% of the property value and sometimes 90% with lenders mortgage insurance. You need FIRB approval, and in Victoria you pay an additional 8% foreign purchaser duty. Under the current federal rules you are generally limited to new dwellings, off-the-plan properties or vacant land until 30 June 2029.
Can a 491 visa holder buy a house in Australia?
Yes, subject to FIRB approval and the same limits on established dwellings that apply to all temporary residents until 30 June 2029. Lenders generally treat the 491 like the 482 because it leads to permanent residency through the 191 visa: expect a maximum LVR of 80% to 90% and a requirement for Australian income. The regional condition of the visa does not stop you buying in Melbourne, but check your visa obligations before you do.
Do temporary residents pay extra stamp duty in Victoria?
Yes. Foreign purchaser additional duty adds 8% of the property's dutiable value on top of the standard land transfer duty. On a $600,000 new townhouse that is $48,000 extra, taking total duty to $79,070. Permanent residents, citizens and New Zealand citizens living in Australia do not pay it. An exemption may be available for a foreign spouse buying a home jointly with a citizen or PR partner; confirm with the State Revenue Office.
Do I need FIRB approval to buy a house on a temporary visa?
Yes, in almost every case. Temporary residents are foreign persons under the Foreign Acquisitions and Takeovers Act and must get approval before purchasing residential property. The application carries a fee based on the purchase price. Buying without approval can lead to penalties and forced sale. The main exception is buying jointly, as joint tenants, with a spouse who is an Australian citizen or permanent resident.
Can I buy a house with my Australian citizen partner on a temporary visa?
Yes, and it is usually the cheapest route. Buying as joint tenants with a citizen or PR spouse removes the FIRB requirement, and Victoria may exempt your share from the 8% surcharge if the home is your principal place of residence. Your partner's status also makes the First Home Owner Grant available on a new home. Lenders assess both incomes, so your visa affects the loan less. Confirm the duty exemption with the SRO before relying on it.
Should I wait for PR before buying?
For most 482, 491 and 494 holders with PR expected within one to two years, yes. On a $650,000 purchase PR saves $52,000 in surcharge plus the $15,600 FIRB fee, about $67,600 in total, allows a 5% deposit with no LMI under the First Home Guarantee, and opens up established homes. Buying now makes more sense if PR is distant, your visa is secure, and rent is rising faster than your deposit.
Talk to GNT Finance
GNT Finance arranges loans for temporary visa holders across Melbourne's north and west, and can tell you quickly which lenders will accept your visa subclass at the LVR you need. Gorakh Timilsina is Nepali-Australian, worked as a senior credit officer before founding the business, and works with clients in English, Nepali and Hindi; see our Nepali mortgage broker Melbourne page. There is no cost to you for our home-loan service in most cases. Book a free consultation or call 0426 403 703.
This page is general information only and not legal, tax or financial advice. Laws change — confirm current rules with the State Revenue Office, the ATO or a licensed professional.
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.