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Visa and PR home loans

Home loans for 186 visa holders

The 186 is a permanent visa nominated by an employer, and the usual next step for 482 holders. Its grant is the point where the FIRB rules, the established-home ban and the foreign buyer surcharges stop applying.

On this page
At a glance
Visa statusPermanent visa
FIRB approval to buy a homeNot needed
Established (existing) homesCan buy, no approval needed
New homes and vacant landCan buy, no approval needed
5% Deposit SchemeEligible (other criteria apply)
Help to BuyNot eligible (Australian citizens only)

Checked against the Foreign Investment Review Board, Home Affairs and Housing Australia on 26 October 2026.

What lenders look at

Once the 186 is granted, the lender’s visa questions mostly disappear. What is left is the standard assessment, with a few points specific to people who reached permanent residence through an employer.

  • Same employer, permanent visa

    If you are still with the employer that nominated you, a lender sees a stable, ongoing role and assesses it like any permanent employee's.

  • A job change soon after grant

    If you plan to change employers after the grant, tell us before we lodge. Lenders assess the job you have at approval and settlement.

  • Your loan from the 482

    If you bought on the 482, that loan's balance and repayments go into the assessment. Its terms may also be worth reviewing now.

  • Australian history

    Temporary Residence Transition applicants usually have about two years of Australian employment behind them, which helps. If you are new to Australia, lenders want more evidence.

  • Savings record

    Savings built up in an Australian account while on the 482 are usually strong evidence. Money transferred from overseas needs statements that show its path.

  • Visa grant date

    Lenders and schemes care whether you held the 186 on the relevant date. Don't apply for the 5% Deposit Scheme on the strength of a pending application.

FIRB and the established-home ban

Once your 186 is granted you hold a permanent visa, and permanent visa holders are exempt from FIRB approval for residential land, including established homes. The established-dwelling ban for foreign persons no longer applies to you.

Until the grant, you are a temporary resident on the 482 or a bridging visa, and the foreign-person rules still apply. If your 186 application is pending, the bridging visa guide covers buying in that gap.

If you bought a new home with FIRB approval while on the 482, ask FIRB or your conveyancer how any conditions of that approval apply now that you are a permanent visa holder.

Duty, concessions and grants in each state

A 186 holder is a permanent resident in every state. The surcharges fall away (subject to the NSW 200-day test) and first home concessions and grants are available if you are a first home buyer.

Subclass 186: what applies in each state
StateForeign buyer duty surchargeFirst home duty concessionFirst Home Owner Grant
NSW9% unless the 200-day test is metYesYes, $10,000, new homes
VICNoYesYes, $10,000, new homes
QLDNoYesYes, $30,000, new homes
WANoYesYes, $10,000, new homes
SAConfirmConfirmConfirm
TASNoNo current schemeYes, $20,000, new homes
ACTNo surchargeYesNo grant (closed)
NTNo surchargeHouse and land package exemption onlyYes, $50,000, new homes
Checked against each state and territory revenue office (or its legislation register) on 26 October 2026. Rates are a percentage of the dutiable value, on top of normal transfer duty. Grants are paid separately from duty and, in every state that has one, only for new homes. “Confirm” means we could not verify this on the official site, so we link it instead of stating it.

Victoria shows how much the state matters. Its first home buyer exemption applies up to $600,000, with a reducing concession to $750,000, on new and established homes alike. The Victorian grant is $10,000 for new homes up to $750,000. Victoria’s foreign purchaser additional duty doesn’t apply to permanent residents, and there is no days-in-Australia test.

For the full list of thresholds and grants in your state, see our first home buyer guides.

Deposit and LMI

The 5% Deposit Scheme is open to you once the 186 is granted, if you are a first home buyer or haven’t owned property in Australia for 10 years, will live in the home and buy under the cap ($950,000 in Melbourne, for example). The Government guarantee replaces LMI. If you are applying as a couple, both of you need to be citizens or permanent residents.

If you bought a new home while on the 482, the scheme generally won’t apply to your next purchase, and lenders look at your equity and existing loan instead. Help to Buy remains for citizens only.

The 186 and the 482 before it

The 186 has three streams: Temporary Residence Transition, Direct Entry and Labour Agreement.

  • Temporary Residence Transition is the usual route from the 482, generally after two years of full-time sponsored employment in the three years before applying.
  • Direct Entry doesn’t need a prior 482. If yours was granted before you moved to Australia, you face the same new-arrival questions as a 189 holder: a short job history here and, in NSW, the 200-day test.

If you took out a loan while on the 482, the 186 grant is a good time to review it. Lenders that wouldn’t consider a temporary resident may now be options. See refinancing.

Documents checklist

For a 186 holder the list is the standard one. Bring the grant notice rather than the nomination paperwork.

  • Passport
  • Visa grant notice
  • VEVO check showing visa conditions and expiry
  • Recent payslips
  • Employment contract or employer letter
  • Bank statements showing savings and deposit source
  • ATO notice of assessment or income statement
  • Statements for your current home loan, if you bought while on the 482

This list is common lender practice, not a government rule. Each lender sets its own requirements, so we send you a checklist for the lender we recommend.

Illustrative scenario: two Melbourne homes either side of the exemption threshold

A couple moved to Melbourne on 482 visas, and both have just been granted 186 visas through the Temporary Residence Transition stream. They rented the whole time, so they are first home buyers. With the 5% Deposit Scheme now open to them, they are choosing between an established unit at $590,000 and an established townhouse at $700,000.

Two Melbourne homes either side of the exemption threshold
ItemUnitTownhouse
Purchase price$590,000$700,000
Transfer duty before any concession$30,470$37,070
First home duty concession−$30,470−$12,357
Mortgage and transfer registration fees$1,614.20$1,872.20
Government costs to budget for$1,614.20$26,585.20
Deposit (5%)$29,500$35,000
Loan before any LMI (95% LVR)$560,500$665,000
First Home Owner Grant (paid separately)Not eligibleNot eligible
Assumptions
  • Both buyers hold 186 visas, are first home buyers and will live in the home.
  • Both homes are in Melbourne, under the 5% Deposit Scheme cap, so no LMI is payable.
  • Duty, concessions and fees calculated from State Revenue Office Victoria rules checked on 26 October 2026.
  • Excludes conveyancing, building and pest inspections, lender fees, LMI and moving costs.

The unit is under Victoria’s $600,000 first home exemption threshold, so no duty is payable and the government costs are $1,614. The townhouse is in the reducing band up to $750,000, so $24,713 of duty remains after a $12,357 concession.

A year earlier, on the 482, neither home was possible: both are established, and the ban on foreign persons buying established dwellings applied to them. Both prices are under the $950,000 Melbourne cap for the 5% Deposit Scheme. Neither home qualifies for the $10,000 First Home Owner Grant, which is for new homes only.

Common mistakes

  • Signing before the grant

    Until the 186 is granted, you are still a foreign person. Sign after the grant to avoid FIRB and surcharges.

  • Assuming you are a first home buyer

    If you bought on the 482, most first home concessions and the 5% Deposit Scheme no longer apply.

  • Changing jobs during the loan

    Tell us before a job change. It doesn't affect the 186, but it does affect the loan assessment.

  • Keeping the 482-era loan by default

    A loan set up when your options were limited is worth checking against what is available now.

Questions about buying on a 186

Can I buy an established home on a 186?

Yes. Once the 186 is granted you hold a permanent visa, so FIRB approval isn't needed and the established-dwelling ban doesn't apply.

I bought a home on my 482. Can I use first home buyer schemes now?

Usually not. Most first home concessions and the 5% Deposit Scheme require you not to have owned property in Australia (the 5% scheme allows it if more than 10 years ago). Refinancing your existing loan may be the more useful step.

Do I have to stay with my nominating employer to keep my home loan?

Your home loan isn't tied to your employer. Lenders assess the job you have when you apply and when the loan settles. Questions about your visa and your employer are for a registered migration agent.

Does Victoria charge foreign purchaser duty to a 186 holder?

No. A permanent visa holder is not a foreign natural person for Victoria's foreign purchaser additional duty, and there is no days-in-Australia test.

I arrived on a Direct Entry 186. Can I buy straight away?

FIRB doesn't stop you, but lenders want to see you working here first, and in NSW you may pay surcharge purchaser duty until you have spent 200 days in Australia in the past year, unless you qualify as an exempt permanent resident.

Talk through your visa and deposit with Sulav

Bring your visa grant notice and a rough idea of your savings. In 60 minutes we work out which lenders fit and what the purchase will really cost.

Book a consultation0416 066 954

Sources

Every rule on this page comes from these official pages. Dates show when we last checked each one.

  1. Subclass 186, Direct Entry streamDepartment of Home Affairs · Checked
  2. Guidance Note 2: Key concepts (version 5)Foreign Investment Review Board · Checked
  3. Guidance Note 6: Residential land (version 5)Foreign Investment Review Board · Checked
  4. Residential investment informationForeign Investment Review Board · Checked
  5. Subclass 186, Temporary Residence Transition streamDepartment of Home Affairs · Checked
  6. 5% Deposit Scheme information guideHousing Australia · Checked
  7. 5% Deposit Scheme FAQsHousing Australia · Checked
  8. 5% Deposit Scheme property price capsHousing Australia · Checked
  9. Help to Buy schemeHousing Australia · Checked
  10. General land transfer duty rates (non-principal place of residence)State Revenue Office Victoria · Checked
  11. General land transfer duty rates (non-principal place of residence) (legislation)Victorian Government · Checked
  12. General land transfer duty rates (non-principal place of residence) (official calculator)State Revenue Office Victoria · Checked
  13. First home buyer duty exemption or concessionState Revenue Office Victoria · Checked
  14. registration feesVictorian Government · Checked
  15. registration fees (fees)Victorian Government · Checked
  16. First Home Owner GrantState Revenue Office Victoria · Checked
  17. First Home Owner Grant (first home owner grant current rates)State Revenue Office Victoria · Checked
  18. Pensioner and concession card holder duty reductionState Revenue Office Victoria · Checked

State and territory sources

Used for the state-by-state table.