---
title: Visa 485 Graduate Home Loans in Australia | GNT Finance
description: Can you buy a home on a 485 visa? What subclass 485 graduates can buy, the FIRB and duty surcharge cost, lender rules on short visas and a worked example.
url: https://gntfinance.com.au/guides/visa-485-graduate-home-loans/
section: guides
updated: 2026-09-02
author: Gorakh Timilsina, GNT Finance
---

# Home loans on a 485 temporary graduate visa

**In short:** Yes, a subclass 485 graduate visa holder can buy Australian property, but only a new dwelling, an off-the-plan home or vacant land, with foreign investment approval first and a foreign purchaser duty surcharge on top. Only a small group of lenders accept 485 income, usually at 70% to 80% of the property value, because the visa is short.

The 485 is the awkward middle of the migration journey. You finally have full work rights and a real salary, but the visa itself is temporary, short, and not a pathway to permanent residency on its own. Lenders read that clearly, and so should you before you commit to a contract.

## What the visa is

Subclass 485 is a temporary visa for international students who have finished an Australian qualification. The Post-Vocational Education Work stream is granted for up to 18 months. The Post-Higher Education Work stream is usually between two and three years, depending on your qualification. Hong Kong and British National (Overseas) passport holders may be granted five years.

The important number for a lender is how many months are left, not how many were granted. Applying with 20 months remaining is a different conversation from applying with seven.

## What applies to you

| Question | Position for a subclass 485 holder |
|---|---|
| Visa type | Temporary |
| Pathway to permanent residency | Not directly; usually via 482, 189, 190 or 491 |
| Foreign investment approval needed | Yes, before an unconditional contract |
| Can buy an established dwelling | No, while the federal ban runs to 30 June 2029 |
| Can buy new, off-the-plan or vacant land | Yes, with approval and conditions |
| 5% Deposit Scheme eligible | No |
| State first home owner grant | No, unless a co-applicant is a citizen or permanent resident |
| Typical maximum LVR | Commonly 70–80% with a small group of lenders |
| Foreign purchaser duty surcharge | Yes, 8% in Victoria, 9% in New South Wales at the time of writing |
| Serviceability assessment | Your rate plus 3 percentage points, same as everyone |

Treat that table as a starting point. Lender policy on visa classes differs lender to lender and changes without notice, so we confirm it against your grant notice before you make an offer.

## Why the 485 is harder than the 482

Both are temporary visas and both attract the same foreign investment and duty treatment. The difference is what happens next. A 482 holder is sponsored by an employer with a defined permanent residency route through the employer nomination scheme. A 485 holder has no sponsor and no automatic next step, so a lender is assessing a borrower whose right to remain in Australia may end within the loan's first two years.

That shows up in three ways: fewer lenders will look at the file at all, the maximum loan-to-value ratio is usually lower, and evidence of what comes next carries real weight. A lodged skills assessment, a nomination in progress or an employer already talking about sponsorship can change a marginal file into an approved one.

The second obstacle is employment history. Most 485 holders apply for a loan within a year of starting their first professional job, often still on probation. That is a separate problem with its own fixes, covered in [probation and new job home loans](/guides/probation-and-new-job-home-loans/).

## Worked example: a 485 couple buying new in Wollert

Anjali and Ravi both hold Post-Higher Education Work stream 485 visas with 26 months remaining. They earn $92,000 and $78,000, and they have saved $150,000. They want a new $650,000 townhouse.

Victorian land transfer duty on $650,000 is $2,870 plus 6% of the excess over $130,000: $2,870 + $31,200 = **$34,070**.

| Line | Amount |
|---|---|
| Purchase price (new townhouse) | $650,000 |
| Deposit at 80% LVR | $130,000 |
| Loan | $520,000 |
| Land transfer duty | $34,070 |
| Foreign purchaser additional duty at 8% | $52,000 |
| Foreign investment application fee (band up to $1m) | $15,600 |
| Conveyancing, inspections, adjustments | about $3,000 |
| **Cash needed at settlement** | **$234,670** |

For illustration, at 6.00% p.a. over 30 years, $520,000 costs about $3,118 a month. Their $150,000 is $84,670 short.

Now the same townhouse two years later, after both hold permanent visas:

| Line | Amount |
|---|---|
| Purchase price | $650,000 |
| Deposit at 5% under the 5% Deposit Scheme | $32,500 |
| Loan | $617,500, no lenders mortgage insurance |
| Land transfer duty | $34,070 |
| Foreign purchaser additional duty | Nil |
| Foreign investment application fee | Nil |
| First Home Owner Grant on a new home under $750,000 | $10,000 back |
| Conveyancing and costs | about $3,000 |
| **Net cash needed** | **$59,570** |

Same property, $175,100 less cash. That is the arithmetic behind our usual advice to 485 clients: if permanent residency is realistically two years away, the waiting almost always wins. If it is five years away or uncertain, buying new now can still be the right call, and we will model both.

## If you decide to buy on the 485

- Apply for [foreign investment approval](/legal/firb-approval-for-property/) before you sign, or make the contract conditional on approval. Buying without it is a breach carrying penalties and possible forced sale.
- Confirm in writing that the dwelling is new and has never been sold or occupied. A substantially renovated house is still established.
- Budget the 8% surcharge and the application fee as cash. Neither can be borrowed.
- Ask us to check maximum loan-to-value ratios first. At 70% the deposit on a $650,000 purchase is $195,000, not $130,000.
- Think about the exit. If you leave Australia and rent the property out, Victorian absentee owner and vacant residential land tax rules can apply. See [vacant residential land tax](/legal/vacant-residential-land-tax-victoria/).

Our [home loans for visa holders](/services/home-loans-for-visa-holders/) page explains how we screen policy, [buying property as a temporary resident](/guides/buying-property-as-a-temporary-resident/) covers the rules shared by every temporary visa, and [home loans by visa subclass](/guides/home-loans-by-visa-subclass/) compares the 485 against every other visa. The [Wollert mortgage broker](/mortgage-broker/wollert/) page covers the new-build stock graduates most often buy.

## Frequently asked questions

### Can I get a home loan on a 485 visa?

Yes, but from a narrow field. A small group of lenders accept temporary graduate visa holders with stable Australian PAYG income, usually capping the loan at 70% to 80% of the property value. Most want a meaningful period left on the visa and evidence of what comes next, such as a lodged skills assessment or employer sponsorship. You will also need foreign investment approval and a larger cash budget than a permanent resident.

### How much time do I need left on my 485?

There is no legislated minimum, and lenders set their own. The general shape of the market is that more than 12 months remaining keeps most options open, and under six months closes nearly all of them. If your visa is running down, a lodged application for the next visa on file helps. We check the specific policy before you make an offer rather than after.

### Can a 485 visa holder buy an established house?

Not while the federal ban on foreign persons purchasing established dwellings runs, which is from 1 April 2025 to 30 June 2029. The exceptions are commercial in nature, such as redevelopments adding at least 20 dwellings, and none of them helps someone buying a home to live in. New dwellings, off-the-plan properties and vacant land to build on remain available with approval.

### Do I pay the foreign purchaser surcharge on a 485?

Yes, unless you buy your principal place of residence with a spouse or partner who is not a foreign purchaser and meet the residence conditions. Victoria charges 8% of the dutiable value on top of ordinary duty, which is $52,000 on a $650,000 purchase. Check the current rate and exemption conditions at [sro.vic.gov.au](https://www.sro.vic.gov.au) before you budget.

### Is it better to wait for a 482 or skilled visa?

Often, yes. Moving to a sponsored 482 widens your lender choice and gives a defined permanent residency route, and permanent residency itself removes the surcharge, the application fee and the established-dwelling ban. On a $650,000 purchase that is roughly $67,600 of cost gone, plus access to a 5% deposit with no mortgage insurance. Use the waiting time to build savings and a clean Australian credit file.

## Talk to GNT Finance

Send us your 485 grant notice, your employment contract and two payslips, and we will tell you which lenders will consider you, at what loan-to-value ratio, and what the purchase costs in full. Gorakh Timilsina spent years as a senior credit officer reading files like these before founding GNT Finance. [Book a free consultation](/contact/) or call 0426 403 703.

*This page is general information only and not legal, tax, migration or financial advice. Visa and foreign investment rules change — confirm current requirements with the Department of Home Affairs, the Foreign Investment Review Board or a registered migration agent.*