Home Loan Approval For 485 Graduate Visa Holders

You finished your studies, you’re working in your field, and you want to stop renting and buy a place of your own. Then you hear it gets complicated on a graduate visa.

Here’s the part most people miss. If you’re buying with an Australian citizen, New Zealand citizen, or permanent resident partner, your 485 graduate visa is not the obstacle it sounds like. Because you’re buying jointly with your Australian partner as joint tenants for a home to live in, you can borrow up to 95% of the property value, you’re exempt from FIRB (Foreign Investment Review Board) fees and waiting, and you can buy an established home, not just new stock. That’s the same lending position as a partner-visa applicant.

Buying on your own, without an Australian partner, is a different story and we’ll be honest about it: it’s less common, and for a 485 holder the real factor is usually your income and employment history, not the visa. We cover that path below too.

Want to know exactly where you stand on a 485? Book a free Lending Assessment. We’ll show you your real lending options, which lenders on our 31+ panel work for your situation, and the fastest route to approval. And if it turns out you’re not quite ready to buy yet, you’ll leave with a clear roadmap to get there.

Buying With Your Australian Partner: Your Strongest Path

This is the path most of our 485 clients take.

If your partner is an Australian citizen, an Australian permanent resident, or an eligible New Zealand citizen, and you buy your home together as joint tenants, lenders treat your application much like any other Australian borrower. Your 485 stops being the deciding factor.

Buying jointly with your partner unlocks:

• Up to 95% LVR (Loan to Value Ratio), a deposit from 5% plus costs, the same as an Australian citizen or permanent resident
• No FIRB approval needed for your principal place of residence, which means no FIRB (Foreign Investment Review Board) fee and no waiting on a FIRB decision
• You can buy an established home. The April 2025 ban on temporary residents buying established dwellings does not apply to an exempt joint purchase
• Mainstream lender rates, not specialist non-resident pricing
• Possible first home buyer benefits, grants and stamp duty concessions, depending on your partner’s eligibility and your state

What makes this work is the combination: an Australian, PR, or NZ partner, held as joint tenants (equal undivided ownership, not tenants in common), bought as your home to live in. It does not depend on your 485 subclass at all.

On an $800,000 home, the 5% deposit route is $40,000 versus the $160,000 a 20% deposit would need. For most couples that gap decides whether buying happens now or years from now. Above 80% LVR you’ll pay LMI (Lenders Mortgage Insurance), a one-off premium that makes the smaller deposit possible, and most LMI providers will insure the application when your co-borrower is an Australian citizen or permanent resident.

One structure trap to avoid: some couples buy as tenants in common rather than joint tenants, often on advice focused on asset protection. Tenants in common does not qualify for the FIRB exemption. We flag this early so the structure is right before you make an offer.

The lending position here is the same one we set out in detail on our Partner Visa Home Loans page, so it’s worth a read if this is your situation.

Book Your Free Assessment

Buying On Your Own, Without an Australian Partner

This path is less common for 485 holders, and it’s worth walking through how it actually works.

Buying solo as a temporary resident, you’re treated as a foreign buyer, and these things apply at once:

• 80% LVR (a 20% deposit plus costs). Some lenders go tighter still. There’s no 95% option without an Australian co-borrower.
• FIRB approval is required, with an application fee that is indexed each July and scales with the property price; it runs well into five figures on a typical purchase.
• New dwellings only. The established-dwelling ban (in place since 1 April 2025, and since extended) means temporary residents buying alone cannot buy an established home, even to live in. New builds, off-the-plan, and house-and-land are still open.
• The foreign-buyer stamp duty surcharge applies. It’s an extra charge on top of normal stamp duty: currently between 7% and 9% in most states, and none in the ACT or NT. On an $800,000 purchase that can add $56,000 to $72,000.

The panel of lenders that considers a solo 485 holder is smaller, and we know which ones do. For a 485 specifically, the factor lenders weigh most is servicing: early in your career, they want to see stable income and a solid employment history. If you’re established in your role, a solo purchase is well within reach. If you’re earlier on, we’ll tell you honestly where you stand and map the income and deposit position that gets you there.

How We Help 485 Visa Holders Get Approved

The hardest part of buying on a 485 usually isn’t the visa. It’s not knowing which lenders will even consider a graduate visa, and whether your situation stacks up yet. If a bank has already said no, that’s almost always because their policy didn’t fit a 485, not because it can’t be done. Here’s how we get you there, in three steps.

1. Match. We take your visa, your income, your deposit, your employment history, and whether you have an Australian, NZ, or PR partner, and run them through our VSL Matrix™ (Visa x Situation x Lender) to find the lenders whose policy already fits your situation. For 485 holders this matters more than for almost any other visa, because appetite varies sharply and the joint-purchase route changes the picture entirely. We rule out the lenders who were always going to say no and focus on the ones most likely to approve you.

2. Apply. Once we know the right lender, we help you put your strongest application forward. We gather the right documents, structure your income and savings the way that lender wants to see it, and identify any grant, stamp duty concession, or FIRB exemption that applies to you. For a 485 this is often where an application is won or lost.

3. Purchase. You get your pre-approval, then your formal approval, and you move forward knowing the finance is sorted. Because your 485 is temporary, we also think ahead: if you’re moving toward a 482, employer sponsorship, or permanent residency, we choose lenders and loan products that serve you now and set you up to refinance or borrow again on better terms once your residency position improves.

Our service is free to you. We’re paid by the lender when your loan settles, so there’s no cost and no obligation for the advice, the assessment, or the application.

And if it turns out you’re not quite ready to buy today, you won’t leave empty-handed. You’ll get a clear roadmap and timeline showing exactly what needs to happen to get you loan-ready, whether that’s building your savings, passing probation in a new role, buying together with your partner, or waiting until your 482 or PR comes through. For a lot of 485 holders the honest answer is “not yet, but here’s the plan,” and that plan is worth having.

Book Your Free Assessment

Related Visa Home Loan Guides

Your situation might overlap with one of these:

• Partner Visa Home Loans, if you’re buying with an Australian, NZ, or PR partner, this is your strongest path and the full detail lives here
• 482/TSS Visa Home Loans, if you’re moving onto employer sponsorship
• 491 Visa Home Loans, for skilled regional visa holders
• Permanent Resident Home Loans, if your PR is coming through soon, different rules apply

Frequently Asked Questions

Can I get a 485 visa home loan in Australia?
Yes. The strongest path by far is buying with an Australian, New Zealand, or permanent resident partner: you can borrow up to 95% LVR, you’re FIRB-exempt for your home, and you can buy an established property. Buying on your own is less common but possible: solo you’re capped near 80% LVR, FIRB and the established-dwelling ban apply, the foreign-buyer surcharge applies, and early-career income is often the main thing lenders look at.

What deposit do I need on a 485 visa?
Buying with an Australian citizen, NZ citizen, or permanent resident partner, deposits as low as 5% may be available. Buying on your own, plan for 20% plus costs (some lenders want more).

Does it matter how long is left on my 485?
It can. Some lenders prefer a minimum time remaining, though many look harder at your income and employment. If your visa is short-dated, we’ll match you to a lender who allows it, or map a timeline for when you’ll be in a stronger position.