495 Visa Home Loan Australia — What Former Holders Need to Know

If you’ve searched for a 495 visa home loan, you likely held the Subclass 495 (Skilled — Independent Regional) visa at some point. This visa closed to new applications on 1 September 2007 — nearly two decades ago. But if you’re still searching this term, you probably have questions about how your visa history affects your home loan options today.

Here’s the short answer: it almost certainly doesn’t. What matters is the visa you hold now.

What Happened to the 495 Visa?

The Subclass 495 was a provisional visa for skilled workers in regional Australia. It was part of the same visa family as the 475 and 487 — all regional skilled visa streams that were eventually replaced, first by the 489 and then by the Subclass 491 visa in November 2019.

Since the last 495 visas were granted in 2007 and the visa had a three-year validity period, all former 495 holders have long since transitioned to another visa. In almost every case, that means permanent residency.

What Are Your Home Loan Options if You Now Have PR?

As a permanent resident, you have the same lending options as any Australian citizen:

• Borrow up to 95% LVR — a 5% deposit is all you need with the right lender
• No FIRB approval required — you are not a foreign buyer
• No restrictions on property type — the April 2025 established dwelling ban does not apply to permanent residents
• Full access to all Australian lenders, including major banks
• Potential eligibility for the First Home Owner Grant and stamp duty concessions (if you haven’t purchased before)

Whether you’re buying your first home, upgrading, or looking at an investment property, your former 495 visa status has no bearing on your current application. Lenders assess you based on your current visa, income, and financial position.

If you’d like help finding the best rate across 31+ lenders, we’re here.

What if You Moved to a Different Visa?

In the unlikely case that your visa pathway led to a 489 or 491 rather than permanent residency, your lending options are different. The 491 is a provisional visa with specific regional requirements and lender restrictions.

[Read our full 491 Visa Home Loan Guide →] 491 Visa Home Loan Guide

Still Have Questions?

Every visa pathway is different, and lending rules change as your visa status changes. If you’re unsure where you stand — or if your situation involves a more complex visa history — we can help.

Book a free 30-minute strategy session with MAP Home Loans. We’ll assess your current visa status, income, and deposit position and give you a clear picture of your options.

No cost. No obligation.

Related Visa Home Loan Guides

Former 495 holders often transition to these visa categories:

• 491 Visa Home Loans — the 495’s successor for regional skilled workers
• Permanent Resident Home Loans — if you’ve transitioned to PR
• 485 Graduate Visa Home Loans
• Other Home Loans — full list of visa categories