Student Visa Home Loan: Can I Get a Home Loan in Australia on a Student Visa?

There are hundreds of thousands of international students in Australia at any given time, working their way through their respective studies. Most hold a subclass 500 Student visa, and many are interested in purchasing a property here as a place to live instead of paying rent or board. Buying property in Australia can also be part of a longer-term goal of Australian permanent residency and ultimately Australian citizenship.

This article outlines when international students on student visas can obtain a home loan and what the requirements look like.

Can I Get a Home Loan in Australia on a Student Visa?

Most banks, credit unions and building societies will not lend mortgage finance to international students studying in Australia. They consider it too risky. The concern is essentially that you will leave the country without paying the mortgage. This leaves the bank with the task of selling the property to recover its money, and no lender wants to be in that position.

There are, however, a few lenders in Australia that will provide home loan finance to non-residents on student visas provided strict criteria are met. Here is what you need to know.

How Much Deposit Will I Need for a Student Visa Home Loan?

Non-resident students can typically borrow up to 80% of the purchase price, meaning you need a 20% deposit plus costs. For example, if you were purchasing a $500,000 property, you would require a 20% deposit of $100,000 plus stamp duty and legal fees. Stamp duty and legals generally run around 3-5% of the purchase price, though this varies significantly depending on the state or territory you are buying in. In some states, first home buyers pay no stamp duty up to a certain threshold, and students on student visas can often take advantage of these concessions.

What Student Visa Types Do Lenders Accept?

Since July 2016, the Australian government consolidated all student visas under the subclass 500 Student visa. This single visa category covers all education sectors, from vocational education and training through to masters and doctoral programs.

The good news is that lenders who work with student visa holders generally accept the subclass 500 visa regardless of your level of study. Whether you are studying a Certificate IV, a bachelor’s degree, or a PhD, the same lending criteria apply.

What Are the Requirements for Home Loan Approval?

To be approved for a home loan on a student visa, the banks will typically require:

• 12 months in current employment — exceptions can be made, but one year is the general benchmark.
• Clean credit history — free from defaults and adverse listings. This is rarely an issue for temporary residents, as it is difficult to obtain credit in Australia without permanent residency.
• Sufficient income — your earnings must demonstrate you can afford the repayments (borrowing capacity is evident).
• 20% deposit plus costs — gifted funds from family are acceptable, even if the funds originate from an overseas bank account, provided they are in an Australian bank account prior to approval.

Is FIRB Approval Required?

As a general rule, student visa holders require Foreign Investment Review Board (FIRB) approval when purchasing property in Australia. There are a few exceptions, such as purchasing with an Australian citizen or permanent resident, but most students will need to lodge an FIRB application.

There is an important restriction to be aware of. Since April 2025, the Australian government has imposed a temporary ban on foreign purchases of established dwellings. This ban runs until 31 March 2027 and applies to all temporary visa holders, including students.

What this means in practice is that student visa holders can currently purchase new dwellings only — think off-the-plan apartments, house-and-land packages, and newly built properties that have not been previously occupied. This is actually a solid opportunity: new builds often come with builder warranties, depreciation benefits for investors, and in some states, additional stamp duty concessions for new properties.

If you are considering buying while on a student visa, focusing on new-build options is the way forward right now.

What Happens After Your Student Visa?

Many students transition to a subclass 485 Temporary Graduate visa after completing their studies. This is a natural next step and can open up additional borrowing options. If you later move onto a 482 employer-sponsored visa or obtain permanent residency, your lending choices improve even further.

Getting into the property market while studying can put you ahead of the game, building equity while your visa pathway progresses.

Ready to Explore Your Options?

Every student’s situation is different, and the lending criteria can be nuanced. The best way to find out exactly where you stand is to speak with a broker who specialises in visa holder home loans.

Book a free strategy call with MAP Home Loans. We will assess your situation, explain your options, and map out a clear path to getting you into your own property.