Yes — migrants can get home loans in Australia. But the process is different depending on your visa type, whether you have an Australian credit history, and how your income is structured. Here's exactly what lenders look at.
PR
Best position to borrow
20%+
Temp visa deposit req.
40+
Lenders compared
Free
Visa eligibility check
Visa Type: The Starting Point
Your visa type is the single most important factor in how lenders assess your application. Here's how the main visa types are treated:
Treated almost identically to Australian citizens by most lenders. Access to full loan-to-value ratios, competitive rates, and standard documentation requirements. PR is the threshold at which the vast majority of lenders open their full product range to you.
Several lenders will lend to 482 (Temporary Skill Shortage) and employer-sponsored visa holders, particularly where PR is likely. Typically requires 20% deposit, stable Australian employment, and evidence of ongoing visa status. FIRB approval usually required for established dwellings.
Very few mainstream lenders will approve a student visa holder. Some specialist lenders may consider in specific circumstances (strong income from employment, large deposit). Typically not viable without a co-borrower who is a citizen or PR.
NZ citizens living in Australia on the Special Category Visa are treated as residents for lending purposes by most lenders. No FIRB approval required.
FIRB Rules: What You Need to Know
The Foreign Investment Review Board (FIRB) regulates property purchases by temporary visa holders and non-residents. Key rules for 2026:
- Australian citizens and PRs — no FIRB approval required, regardless of where you were born
- Temporary visa holders buying an established home — FIRB approval required; can only purchase for owner-occupation (not investment); must sell when no longer resident in Australia
- New construction — generally no FIRB approval required for temporary residents (promotes housing supply)
- Application fee — FIRB charges a fee based on property value; for properties up to $1M it's approximately $14,100 (2026 rates)
Tip: Time Your PR Grant
If you're on a visa pathway to PR, coordinating your property purchase with your PR grant significantly expands your lender options and removes FIRB requirements. A broker can help you time this — pre-approval on a visa, then formal approval once PR is confirmed.
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Overseas Income and Credit History
Two issues that regularly trip up migrant borrowers:
Using Overseas Income
Some lenders will consider income earned offshore if it's stable, ongoing, and in a major currency. Lenders typically apply a 20–40% shading to overseas income to account for exchange rate risk. Income in USD, GBP, SGD, NZD, and EUR is generally viewed more favourably than income in other currencies.
If you've recently arrived in Australia and are starting a new role, it's best to have at least 3–6 months of Australian payslips before applying — this removes the overseas income uncertainty entirely for most lenders.
No Australian Credit History
A "thin file" (no Australian credit history) is not the same as bad credit. Most lenders handle this by looking at:
- 6+ months of Australian banking history showing regular income and clean conduct
- An Australian credit card or other credit product showing responsible use
- Bank references from your home country (accepted by some lenders)
- Evidence of rental history in Australia (paid on time)
The fastest way to build an Australian credit footprint: open an Australian credit card, use it for regular small purchases, and pay it off in full every month. After 6–12 months you'll have a clean, positive credit history.
How to Maximise Your Borrowing Power as a Migrant
- Get your PR before buying if possible. The jump in lender options between temporary visa and PR is significant — if your PR application is imminent, the wait may be worth it
- Save a larger deposit. 20% is the sweet spot for most temporary visa lenders. It removes LMI, demonstrates financial discipline, and improves your serviceability position
- Use a broker who specialises in migrant lending. Lender policies for non-citizen borrowers change frequently. A broker with a specific track record in this area knows who to approach — and who to avoid
- Consider a joint application with a citizen or PR. A joint application with a spouse or family member who holds PR or citizenship significantly expands your lender options
- Buy near established migrant communities. Properties in suburbs like Bankstown, Parramatta, and Liverpool are well-known to lenders and well-supported by our network of brokers who understand the local community
Frequently Asked Questions
Yes — some lenders approve work visa holders (482, 186, 187) with 20%+ deposit, stable Australian employment, and ongoing visa status. The lender range is smaller than for PR holders, so a specialist broker is essential to find the right match without unnecessary credit enquiries.
Citizens and PRs don't need FIRB approval. Temporary visa holders generally need approval for established dwellings but can often buy new construction without it. A broker will confirm your specific FIRB position before any application.
Some lenders accept overseas income (typically with a 20–40% shading for currency risk). Major currencies (USD, GBP, SGD, NZD) are more favourably treated. If you've recently arrived and started an Australian role, 3–6 months of local payslips is usually preferable to relying on overseas income.
No Australian credit history is a "thin file" not bad credit. Lenders look for 6+ months of Australian banking, a credit product, and clean conduct. Some accept overseas bank references. Building an Australian credit card history quickly after arrival is the fastest path to a strong file.
The First Home Guarantee requires citizenship or PR. Temporary visa holders are not eligible. If you're on a PR pathway, timing your purchase to coincide with your PR grant opens access to both the scheme and a much broader lender panel.
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