Home loans for 482 visa holders

What lenders look at

On a 482 your income depends on a sponsoring employer, and lenders build that into the assessment. Here is what they look at beyond the usual income, expenses and debts.

FIRB and the established-home ban

A 482 holder is a temporary resident and therefore a foreign person for FIRB. Being in Australia for most of the year doesn’t change that.

Established homes are banned until the ban ends. From 1 April 2025 to 30 June 2029, foreign persons, including temporary residents, are generally prohibited from buying established dwellings. Temporary residents can no longer get approval to buy an established home to live in, which they could apply for before the ban.

New homes and vacant land need approval. For a new dwelling or vacant land you need FIRB approval and pay an application fee, which rises with the price (see Sources). For a home up to $1,000,000, the 2026-27 fee is $15,600. On vacant land, the home must be finished within four years. If the developer holds a New or Near-New Dwelling Exemption Certificate for the project, you don’t need your own approval.

Foreign owners also pay an annual vacancy fee if a home they bought isn’t lived in or genuinely available to rent for at least 183 days a year. That matters if a job move takes you to another city before you sell.

If your spouse is an Australian citizen or permanent resident and you buy together as joint tenants, FIRB approval isn’t needed. The guidance we checked doesn’t say whether that also allows an established home during the ban, so confirm with FIRB first.

Duty, concessions and grants in each state

The 482 is treated as a temporary visa in every state. That means a foreign buyer surcharge where a state has one, and first home concessions only if a citizen or permanent resident buys with you.

Deposit and LMI

The 5% Deposit Scheme isn’t available on a 482: every applicant has to be an Australian citizen or permanent resident. Help to Buy is for citizens only. That leaves a standard loan, usually with a larger deposit than a citizen would need and LMI if you borrow more than 80% of the value.

Your deposit has to cover the extra costs too. In the NSW scenario below, the surcharge and the FIRB fee together add $80,400. Saving for those costs on top of the deposit is why we compare buying now with waiting for the 186.

We don’t publish maximum LVRs for the 482 because they differ by lender and change. We confirm the current limits at your consultation.

From the 482 to the 186

The usual route to permanent residence from a 482 is the Employer Nomination Scheme visa (subclass 186), Temporary Residence Transition stream. It usually needs two years of full-time sponsored employment in the three years before you apply.

Once the 186 is granted:

• You no longer need FIRB approval, and you can buy an established home.
• The foreign buyer surcharges no longer apply (in NSW, once you meet the 200-day residence test).
• First home concessions, grants and the 5% Deposit Scheme open up if you are a first home buyer.

The Skills in Demand visa replaced the Temporary Skill Shortage visa on 7 December 2024. TSS applications lodged on or before 6 December 2024 are decided under the TSS rules. Ask a registered migration agent how your own visa history affects the 186; we look at the lending.

Documents checklist

Lenders add sponsor and FIRB documents to the standard list for a 482 application.

• 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
• Sponsoring employer details
• FIRB approval letter, or the developer's New or Near-New Dwelling Exemption Certificate
• Employer letter confirming your role, salary and sponsorship

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: an off-the-plan apartment in Sydney

A hospital pharmacist holds a 482 in the Core Skills stream and has worked for her sponsoring employer in Sydney for 18 months. She is single, has never owned property and has saved enough for a 20% deposit. She is looking at a two-bedroom apartment off the plan in Parramatta for $720,000, from a developer that does not hold a FIRB exemption certificate.

The table compares buying now on the 482 with buying the same apartment after a 186 (Temporary Residence Transition) is granted, which she expects to be eligible for after two years with her employer.

Common mistakes