Free Guide: Migrant Buyer Checklist
The exact documents and steps we use to prepare migrant buyers for a successful home loan application in Australia.
Australia has some of the best homeownership opportunities in the world — but the path from "new arrival" to "property owner" has some specific steps that are different to what you may know from your home country.
This guide covers everything: what your visa status means for home loans, how Australian lenders assess credit history from migrants, what grants you can access, FIRB rules, and the full process from start to settlement.
Information checked on 26 October 2026. Policies and scheme rules change; confirm current eligibility with Housing Australia, the ATO/FIRB and your lender.
Step 1: Understand Your Visa Status and What It Means for Loans
Your visa type is the first thing a lender checks when you apply as a non-citizen. It determines whether you can get a loan at all, what deposit you need, and whether FIRB approval is required.
| Visa status | Can borrow? | Min deposit | FIRB required? | Notes |
|---|---|---|---|---|
| Australian citizen | Yes | 5% (with LMI or FHG) | No | Full access to all products |
| Permanent resident (PR) | Yes | 5% (with LMI or FHG) | No | Same as citizen for most lenders |
| NZ citizen (SC 444) | Yes | 5–10% | No | Some lenders treat as PR |
| Temporary — partner visa (820/309) | Yes — limited | 10–20% | Yes, unless an exemption applies (established homes generally banned 1 April 2025 to 30 June 2029) | Specialist lenders only |
| Temporary — 482/457 work visa | Yes — limited | 20% | Yes | Some specialist lenders accept; higher rates |
| Student visa (500) | Rarely | 30%+ | Yes | Very limited; usually guarantor needed |
| Tourist / visitor visa | No | N/A | N/A | Cannot borrow for residential property |
Step 2: Build (or Transfer) Your Australian Credit Profile
Australia uses Equifax, Illion and Experian for credit scoring. If you've just arrived, your Australian credit file is blank — which is different to having bad credit, but still creates friction with some lenders.
What Lenders Accept Instead of a Long Credit History
- 12 months of Australian bank statements — showing regular income deposits and responsible spending
- Rental ledger — 12 months of on-time rent payments is one of the strongest signals
- Utility and phone bills — paid on time, in your name
- Employment letters — confirming your role, tenure and income
- Overseas credit report — some lenders (especially specialist ones) will accept translated credit reports from your home country
Step 3: Know What Grants and Schemes You Can Access
Several government assistance programs are available to migrant buyers — but eligibility depends on your visa status and whether you're a first home buyer.
| Scheme | Who qualifies | Benefit |
|---|---|---|
| NSW First Home Owner Grant (FHOG) | Australian citizens and PR holders buying new homes up to $600K | $10,000 cash grant |
| 5% Deposit Scheme (formerly First Home Guarantee) | Citizens and PR holders; no income caps since 1 October 2025; price caps apply | 5% deposit, no LMI |
| Single parent/legal guardian pathway (same scheme) | Single parents and legal guardians (citizens/PR) with 2%+ deposit | 2% deposit, no LMI |
| NSW stamp duty concession | First home buyers (citizens/PR) buying under $800K | Full or partial stamp duty exemption |
| First Home Super Saver Scheme | Anyone with superannuation contributions (citizens/PR) | Withdraw up to $50K of voluntary super contributions for deposit |
Step 4: Check FIRB Rules (If You're Not Yet a PR)
FIRB (Foreign Investment Review Board) approval is required if you are a temporary visa holder purchasing residential property. The rules differ based on what you buy. Importantly, from 1 April 2025 to 30 June 2029, foreign persons — including temporary residents — are generally banned from buying established dwellings, even to live in (limited exceptions apply).
| Property type | Temporary resident rule | FIRB fee (approx) |
|---|---|---|
| New dwelling (off-the-plan or newly built) | FIRB approval required — generally approved | From $14,100 depending on purchase price |
| Established dwelling (for owner-occupation) | Generally NOT permitted 1 April 2025 to 30 June 2029 (temporary ban, limited exceptions) | N/A |
| Established dwelling (investment) | Generally NOT approved | N/A |
| Vacant land (build within 4 years) | FIRB approval required | From $14,100 |
FIRB applications are lodged online at firb.gov.au. The fee is based on property value. Many temporary resident applications for a new owner-occupied home are decided within about 30 days. Confirm current rules with FIRB/the ATO before signing a contract.
Step 5: The Full Process — From Pre-Approval to Settlement
Upfront Costs to Budget For
| Cost | Typical amount | Notes |
|---|---|---|
| Deposit | 5–20% of purchase price | Minimum depends on visa status and lender |
| Stamp duty (NSW) | $0–$35,000+ | Exemption available to FHBs under $800K (citizens/PR) |
| LMI | $0–$30,000+ | Avoidable with 20% deposit, guarantor, or FHG scheme |
| Solicitor/conveyancer | $1,500–$3,000 | Required for all NSW purchases |
| Building inspection | $400–$700 | Optional but strongly recommended |
| Pest inspection | $200–$400 | Often bundled with building inspection |
| FIRB application fee | $14,100–$57,900 | Only if temporary visa holder |
| Mortgage registration | ~$175 | NSW government fee |
Frequently Asked Questions
our broker team is a Sydney mortgage broker who works extensively with migrant buyers across Western Sydney, including Arabic, South Asian, Southeast Asian and Pacific Islander communities. He understands the specific challenges of applying with a new credit profile, non-standard income, or complex visa history.
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