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Yes, in most cases. Lenders usually go up to 80% of the property value when you buy on your own, and up to 95% when you buy with your Australian citizen or permanent resident partner.
When you buy jointly with your Australian citizen or permanent resident partner, as joint tenants, you are in one of the strongest lending positions available to a temporary visa holder. You can access up to 95% LVR (Loan to Value Ratio), you are exempt from FIRB (Foreign Investment Review Board) approval and the application fee, and you can buy an established home, not just new stock. Your 494’s employer sponsorship adds to that, because a named Australian sponsor and a steady full-time income is the kind of income story credit assessors like.
Want to know exactly what you can borrow with your Australian partner? Book a free Lending Assessment. We will show you your lending options, which lenders on our panel of 31+ work for 494 holders, and how the FIRB exemption applies to your situation.
If you hold a Subclass 494 and you are buying jointly with your Australian citizen or permanent resident partner, most lenders will assess your application much like any other Australian borrower.
What lenders look at:
The reason this works is structural. Your Australian partner being on the loan and the title is what unlocks the favourable terms, not the subclass of your visa. That is also why this page leads with the joint purchase: it is the path most of our 494 clients take, and it is far stronger than buying alone.
Your 494 employer sponsorship helps too. When a lender assesses any application involving a temporary visa holder, income stability is the first concern, and the 494 answers it more directly than most temporary visas. Your visa is tied to a named, approved Australian employer rather than a casual arrangement. You and that employer are both committed to a regional area, which reads as stability. You are usually in an ongoing full-time role, the income structure lenders prefer. And the 494 leads to the Subclass 191 after three years, a defined endpoint. Compared with a 482 visa holder on a shorter arrangement or a 491 visa holder whose income may be self-employed, the 494 gives a cleaner income story. Not every lender weighs sponsorship the same way, and knowing which ones do is part of what we do.
We know which lenders on our panel of 31+ are most receptive to applications like yours. Matching the right lender to your file is where a specialist broker makes the difference.
If you have read about the April 2025 ban on temporary visa holders buying established homes, it does not apply to you when you buy with your Australian partner as joint tenants. That ban only catches buyers who need FIRB approval, and your joint purchase is exempt from FIRB.
You do not need FIRB approval when all three conditions are met:
What the exemption is worth to you:
One common mistake to avoid: some couples buy as tenants in common rather than joint tenants, often on advice aimed at asset protection. Tenants in common, where each party owns a defined share, does not qualify for the FIRB exemption. We flag this early in every joint application so you do not lose the exemption by accident.
We confirm your FIRB position before you start searching. For most 494 holders buying with their Australian partner, the exemption applies, and you search with the full range of properties open to any Australian buyer.
This is where the joint-purchase advantage shows up most. Because you are applying with an Australian citizen or permanent resident, you reach deposit and LVR levels most temporary visa holders cannot.
The landscape, buying jointly:
On an $800,000 home, the difference between a 5% deposit ($40,000) and a 20% deposit ($160,000) is $120,000. For many couples that gap decides whether buying happens now or years from now.
Lenders Mortgage Insurance (LMI). Above 80% LVR you pay LMI, a one-off premium added to the loan or paid upfront. Most LMI providers will insure a joint application where the co-borrower is an Australian citizen or permanent resident. That is not the case for most other temporary visa categories, and it is another reason the joint structure matters.
What counts toward your deposit:
If your deposit is coming from overseas, have it settled in your Australian account at least four to six weeks before you plan to make an offer. Exchange-rate moves and transfer delays cause real problems at settlement.
The 494 and 491 are both provisional regional visas that lead to PR through the Subclass 191. They are not the same visa, and the difference matters for lending.
The key distinction is sponsorship type:
Why it matters for your loan: lenders assessing temporary visa applications look hard at income stability. A named Australian employer who has gone through the sponsorship process signals employment security that some lenders weigh positively. It does not guarantee better terms than a 491, but it is a genuine point an experienced broker can use.
Where the two are the same for lending: both need a regional property, both can use the partner joint-tenancy route to reach 95% LVR and FIRB exemption when buying with an Australian partner, both fall under the April 2025 new-dwelling rule when buying solo, and both lead to the 191 after three years.
On a 491 instead? See our 491 visa home loan page.
If you do not have an Australian partner to buy with, you can still buy on a 494. It is less common, and the terms are different from the joint case above, so here is the clear-eyed version in one place. None of the favourable claims above (95% LVR, FIRB exemption, established homes) apply to a solo purchase. They depend on buying with your Australian partner.
80% LVR (20% deposit). A 5% or 10% deposit is generally not available to a solo temporary resident. Most LMI providers will not insure temporary visa holders buying alone, which is why lenders default to a 20% deposit.
FIRB approval applies, and you can buy new dwellings only. You will need FIRB approval before buying, and the April 2025 established-dwelling ban applies to you. That ban came in on 1 April 2025 and has since been extended. It applies no matter how long you have lived in Australia, because until you hold PR through the 191 you are a temporary resident for foreign-investment purposes. So, buying solo:
The solo FIRB application fee is indexed each July and scales with the property price; it runs well into five figures on a typical purchase (current fees are in our FIRB approval guide), and it is non-refundable. The property must be your principal place of residence; for vacant land you must start construction within 12 months of settlement and not sell before the dwelling is complete. FIRB applications take time, so build the window into your timeline, especially at auction. Buying jointly with your Australian partner removes this wait entirely.
Foreign-buyer stamp duty surcharge applies in most states, on top of standard stamp duty. It varies a lot and can add tens of thousands to a purchase.
| State/Territory | Foreign Buyer Surcharge |
|---|---|
| New South Wales | 9% |
| Victoria | 8% |
| Queensland | 8% |
| Tasmania | 8% |
| Western Australia | 7% |
| South Australia | 7% |
| ACT | No surcharge |
| Northern Territory | No surcharge |
On a $500,000 property in NSW the surcharge alone is around $45,000 on top of standard stamp duty. In the ACT or Northern Territory it is zero, so the NT is worth a look for solo buyers: Darwin counts as regional for your visa and the NT imposes no foreign-buyer surcharge. Once you move to PR through the 191 the surcharge no longer applies to future purchases. Some states offer a refund if you gain PR within a set period after buying, but this is state-specific and not guaranteed, so budget for the surcharge from the start.
Fewer lenders. The panel that will write a solo 494 loan is smaller, and the rate is usually higher than the joint case.
If you do have an Australian, PR, or eligible NZ partner, the joint route is the stronger door. See our partner visa home loan guide for how the joint purchase and the FIRB exemption work, or simply tell us your situation in a lending assessment and we will tell you honestly which route fits you.
The 494 has a regional requirement that directly affects where you can buy. This is a visa condition, not a guideline, and it applies whether you buy jointly or solo.
Designated regional areas for the 494 include:
“Regional” is broader than most people expect. You are not limited to small country towns. If your employer is based in one of these areas, you are already in the right place.
Why it matters for your loan:
We know which lenders are comfortable in which regional postcodes. A restricted postcode can delay a purchase by weeks or force a restart with a different lender.
The 494 is provisional, but it has a defined endpoint. After holding the visa for at least three years and meeting the income requirement, you can apply for the Subclass 191 permanent residence visa. That transition changes your borrowing position, and it should shape your first property decision.
What changes when your 191 is granted:
Plan your first purchase around it. Because the 191 is a scheduled event rather than a distant maybe, we choose lenders and products that serve you now and set you up to refinance or borrow again once PR is granted. If you buy with your Australian partner today, the gains are mostly about future flexibility and removing the surcharge from your next purchase. If you ever buy solo before PR, the 191 is the point at which the solo restrictions fall away.
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Your Free Lending Assessment ends with a clear GO (a viable pathway and next step) or NOT YET (what needs to change before you apply).
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Yes. The strongest path is buying jointly with your Australian citizen or permanent resident partner, which can reach up to 95% LVR (5% deposit), is exempt from FIRB approval, and lets you buy an established home. Buying solo is possible too: you are limited to new dwellings, need FIRB approval, and a 20% deposit. It is less common, and we write these loans when that is your situation. Either way the property must be in a designated regional area.
Buying jointly with your Australian partner, deposits as low as 5% (95% LVR) are available from multiple lenders. Buying solo, you will generally need 20% (80% LVR), because most LMI providers will not insure a temporary visa holder buying alone. Deposits can come from genuine savings, overseas transfers with documentation, or family gifts.
The 494 is employer-sponsored; the 491 is points-tested, state, territory, or family nominated. The 494’s employer sponsorship can signal income stability, which some lenders view favourably. Both share the regional requirement, both can use the partner joint-tenancy route when buying with an Australian partner, both fall under the new-dwelling rule when buying solo, and both lead to the 191. See our 491 visa home loan guide.
It varies by state. Several states allow the grant for a couple where one partner is an Australian citizen or permanent resident, even if the other holds a temporary visa, usually for a new dwelling. We can tell you what is available in your target location.
All of Australia except Sydney, Melbourne, and Brisbane. That includes Perth, Adelaide, Gold Coast, Canberra, Newcastle, Wollongong, Geelong, Hobart, Darwin, and all rural and remote areas. Not every lender lends in every regional postcode, so lender choice matters.
After three years on the 494 and meeting the income requirement, you can apply for the Subclass 191 permanent residence visa. When PR is granted, the full lender panel opens up, the foreign-buyer surcharge and FIRB approval no longer apply, the established-dwelling ban lifts for future purchases, and you can refinance to better terms. We structure your first loan with this transition in mind.
Different visa subclass? We cover the full specialist panel. See our guides for partner visa home loans, 482 visa home loans, 491 visa home loans, and bridging visa home loans, with the same specialist lender panel and the same approval focus.
Request an exploratory chat about your options and how to secure fast home loan approval, at a competitive rate – even if you don’t have a 20% deposit.
Written & reviewed by Craig Vaughan, Director & Mortgage BrokerMFAA 47419 · Credit Representative 376082Last reviewed
