Home Loans for Australian Permanent Residents

Can Permanent Residents Buy Property in Australia?

Absolutely. If you hold an Australian Permanent Resident visa, you have almost identical property rights to an Australian citizen. You can buy established homes, new builds, apartments, townhouses, and investment properties — with no restrictions on property type and no Foreign Investment Review Board (FIRB) approval needed.

That last point matters more than ever. Since April 2025, temporary visa holders have been banned from purchasing established dwellings (until at least March 2027). As a Permanent Resident, that ban does not apply to you. You can buy the home you actually want, in the suburb you want, without being limited to new builds.

On top of that, the Australian Government expanded its 5% Deposit Scheme to Permanent Residents in October 2025, removing the income caps and place caps that used to limit who could access it. This means you could buy a home with just a 5% deposit and no Lenders Mortgage Insurance — saving you thousands.

If you are a PR holder thinking about buying property, you are in a genuinely strong position. This page breaks down exactly what is available to you and how to make the most of it.

The 5% Deposit Scheme — Now Available to Permanent Residents

This is the biggest change for PR home buyers in recent years. The Australian Government’s Home Guarantee Scheme now includes Permanent Residents, and the eligibility rules were significantly relaxed in October 2025.

Here is how it works:

• 5% deposit, no LMI. The government guarantees the difference between your 5% deposit and the usual 20% threshold. You do not pay Lenders Mortgage Insurance (LMI), which normally costs $8,000 to $30,000+ depending on the property price.
• No income caps. Previous income limits were removed in October 2025. It does not matter what you earn.
• No place caps. Property price limits that previously excluded many capital city suburbs were also removed. You can buy anywhere.
• First home buyers and previous owners. The scheme is available whether you are buying your first home or have owned property before (under the Regional First Home Buyer Guarantee and Family Home Guarantee streams).

More than 48,000 non-citizen Permanent Residents have already used the scheme since it was first expanded in 2023. It is a proven pathway and MAP can help you apply through our participating lender panel.

The scheme has a limited number of places each financial year, so if you are thinking about buying in the next 6 to 12 months, it is worth starting the conversation early to secure your spot.

No FIRB Approval Required

One of the biggest advantages of holding a Permanent Resident visa is that you do not need FIRB approval to buy property. The Foreign Investment Review Board process applies to temporary visa holders — not to PRs.

This means:

• No FIRB application fee (which can be $4,000 to $14,000+ depending on property value)
• No waiting period for FIRB approval
• No restriction on buying established properties
• No conditions requiring you to sell if you leave Australia

Compare that to a 482 visa holder or 485 visa holder who must apply for FIRB approval and currently cannot purchase established homes at all (April 2025 to March 2027 ban). As a PR, none of those restrictions apply to you.

No Established-Dwelling Ban

Since April 2025, the federal government has banned temporary visa holders from buying established dwellings in Australia. The ban is scheduled to run until at least March 2027.

As a Permanent Resident, you are exempt from this ban. You can purchase:

• Established houses, apartments, and townhouses
• New builds and off-the-plan properties
• Investment properties (established or new)
• Vacant land to build on

This gives you the full range of options that citizens enjoy — including the ability to buy in established suburbs where new stock is limited.

Same Rates as Australian Citizens

Unlike temporary residents, who often face higher interest rates or limited lender options, Permanent Residents are treated identically to citizens by the vast majority of lenders. That means:

• Access to the same competitive interest rates
• No foreign-investor surcharges or loadings
• Full access to discounted fixed and variable rate products
• Eligibility for cashback and offset account features

We compare rates across 31+ lenders to find the most competitive deal for your situation. Because you are treated as a domestic borrower, you have access to the full market — not just the handful of lenders that specialise in visa holders.

What Do Lenders Look For in a PR Home Loan Application?

Lenders assess PR applicants using the same criteria as citizen applicants. Here is what they typically look at:

• Income and employment: Stable employment history (PAYG or self-employed). Most lenders want to see at least 6 months in your current role, though this varies.
• Deposit and savings: A minimum 5% deposit if using the Government Guarantee Scheme, or 10 to 20% otherwise. Genuine savings (held for 3+ months) strengthen your application.
• Credit history: A clean credit file in Australia. If you have limited Australian credit history, some lenders will accept an overseas credit reference.
• Living expenses: Lenders assess your expenses against their benchmarks. Lower expenses relative to income means higher borrowing capacity.
• Existing debts: Credit cards, car loans, HECS-HELP, and personal loans all reduce your borrowing power. Paying these down before applying can make a real difference.

If you are not sure where you stand, our borrowing capacity calculator will give you a rough estimate. For an accurate figure based on your specific visa status and lender options, book a free strategy session with us.

First Home Owner Grants for Permanent Residents

Permanent Residents are eligible for the First Home Owner Grant (FHOG) in most Australian states and territories. The grant is designed to help first-time buyers get into the market, and as a PR you qualify on the same terms as a citizen.

Here is a quick overview of what is available (as of early 2026):

• NSW: $10,000 for new homes valued up to $600,000
• VIC: $10,000 for new homes up to $750,000 (regional areas may attract higher grants)
• QLD: $30,000 for new homes up to $750,000
• WA: $10,000 for new homes up to $750,000
• SA: $15,000 for new homes up to $650,000
• TAS: $30,000 for new homes (various thresholds apply)
• ACT: Stamp duty concessions for eligible first home buyers
• NT: $10,000 for new homes (plus additional territory grants)

Some states also offer stamp duty concessions or exemptions for first home buyers, which can save you tens of thousands of dollars. These benefits stack with the 5% Deposit Scheme — meaning you could potentially buy with a small deposit, no LMI, and a significant cash grant.

Eligibility rules vary by state and are updated regularly. We help our clients navigate which grants and concessions apply to their specific situation.

Why Use a Broker — Even as a Permanent Resident?

You might think that because PRs get the same rates as citizens, you can just walk into any bank and get a great deal. And you can — but you will only see that one bank’s products.

Here is what MAP brings to the table:

• 31+ lender comparison. We compare products across our full panel to find the lowest rate and best features for your situation. Banks only sell their own products.
• 5% Deposit Scheme access. Not all lenders participate in the Government Guarantee Scheme. We know which ones do and can fast-track your application.
• Grant and concession guidance. We help you understand which state grants and stamp duty concessions you are eligible for, and how to claim them.
• Free service. We are paid by the lender, not by you. There is no cost, no loading on your interest rate, and no obligation.
• Specialist knowledge. MAP handles home loans for visa holders and permanent residents every day. We understand the nuances that generalist brokers miss.

Whether you are buying your first home or your third investment property, having a broker who knows the PR lending landscape means you get the best possible outcome with the least hassle.

Related Visa Home Loan Guides

If your situation involves a temporary visa — or if someone you are buying with holds a temporary visa — these guides may also be relevant:

• 482/TSS Visa Home Loans — for employer-sponsored temporary residents
• 491 Visa Home Loans — for skilled regional visa holders
• 485 Graduate Visa Home Loans — for post-study visa holders
• Australian Expat Home Loans — for PRs and citizens living and working overseas