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Quick Answer

Can I Buy Property in Australia on a Student Visa?

Mortgagefy Broker Team · Published · Last reviewed

Yes but with FIRB rules. Student visa holders can typically buy new builds (not established homes) with FIRB approval. Lender options are limited.

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Who this guide is for

International students in Australia (subclass 500) wanting to know property purchase rules and options.

The local picture

Student visa property rules are complex — FIRB approval needed, typically can't buy established homes (only new builds), lender options limited. Most students don't know what's actually possible.

How Mortgagefy helps locally

Mortgagefy explains FIRB rules, identifies lenders that accept student visa applications, and walks through the process.

Multilingual support. Free advice.

How it works — 4 simple steps

1

Free student visa chat

20-minute call about your situation and intentions.

2

FIRB requirements check

We confirm what FIRB allows for your situation.

3

Compare lender options

We identify lenders accepting student visa borrowers.

4

Settle the purchase

You acquire property within rules.

Frequently asked questions

We use offer letters and vesting schedules to value RSUs conservatively. We present current vesting value + projected future vesting as a 3-5 year income average. This gives lenders confidence in your income stability while accounting for market volatility.
Both. We work with W2 employees, 1099 contractors, and consultants. For contractors, we use 2 years of tax returns plus business financials. We have lenders who specialise in contractor income—they understand the variability.
Unvested options have zero value for refinancing. We count only vested equity. If you have a 4-year vest, we use 25% of the grant value (what's vested) plus a conservative projection of future vesting.
If you've been in your new role 6+ months, most lenders will refinance. We'll use your offer letter plus 6 months of pay stubs. If less than 6 months, it's harder but possible with specialist lenders.
Yes, if you have 2+ years of bonus history. We average the past 2 years and present it conservatively. Some bonuses get counted at 50% to be conservative with variable compensation.
ESPP is counted as deferred compensation. If your company matches or you have a discount, we value it as part of total compensation package.

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Student Visa Home Loan Requirements

Who Qualifies?

Most lenders require a student visa holder to:

  • Be enrolled in an accredited Australian course (university, RTO, TAFE)
  • Have 2+ years left on student visa (or pathway to PR visa)
  • Demonstrate income: Part-time job, scholarship, family financial support (bank statements)
  • Have a guarantor: Parent, spouse, or established PR/citizen resident
  • Hold Australian bank account with 3–6 months transaction history

Income Verification for Student Visa

Lenders accept multiple income sources:

  • Part-time employment: Pay slips, offer letter, employer confirmation of ongoing hours
  • Scholarship/financial support: Award letter or bank statement showing regular deposits
  • Family financial support: Bank statements (parents' account) showing monthly transfers, plus statutory declaration from parents
  • Guarantor income: If parents are guarantors, their full financials (tax return, payslips) are assessed

Debt Serviceability on Student Visa

Lenders are conservative with student visa holders because:

  • Visa may not be renewed (risk of deportation if studies don't progress)
  • Income is usually low (part-time work capped at 20 hours/week during semester)
  • Guarantor may need to co-sign the entire loan

Typical scenario: Student earning $25k/year (part-time) + parent guarantor earning $100k = combined serviceability ~$350k–400k loan. Parent often becomes primary borrower.

Visa Holder Home Loan Requirements

Visa Categories & Lender Acceptance

  • Skilled visas (457, 186, 494): Most lenders accept after 6-12 months employment. Visa duration + 2-year job security assessed.
  • Spouse visas (309, 820): After 2 years PR pathway visible. Partner income may be assessed if co-borrower.
  • Student visas: Requires guarantor (usually parent). Limited personal borrowing capacity until PR granted.
  • Temporary Resident (400, 401): Short-term visas. Most lenders decline until PR granted.

Income Verification for Visa Holders

Lenders assess visa holder income conservatively:

  • PAYG salary: Current payslips + employer letter confirming ongoing sponsorship + visa condition checklist (must be sponsored to work in Australia)
  • Overseas income: Bank statements (6-12 months) proving regular receipt + letter from employer confirming ongoing payments + currency conversion (lenders apply 10% discount for forex risk)
  • Added income: Spouse's income assessed separately if they're also visa-dependent

Visa Stability & Lender Risk

Visa duration affects borrowing capacity:

  • Visa expires in <2 years: Lender may decline or require guarantor co-sign
  • Visa expires in 2-5 years: Approved with standard terms (visa must be renewed before loan matures)
  • PR granted (indefinite): Treated as permanent resident; visa no longer a factor

Model your scenarios: Use our free home loan calculators to estimate borrowing capacity, repayments, and savings.