491 Visa Home Loan: The Complete Guide for Skilled Regional Migrants
Last updated 1 March 2026
If you are in Australia on a Skilled Work Regional (Provisional) visa (subclass 491), you don’t have to wait for permanent residency to buy your dream home. While many banks view 491 holders as “high risk,” we specialise in connecting skilled migrants with lenders who understand the 491 pathway.
491 Visa Home Loan
Australia is a large country in size with a relatively small population. To overcome skill shortages and encourage business investment, the Government offers these individuals the to opportunity live and work in Australia. Many of these individuals discover that Australia is a great country to live in and would like to settle down and buy a home. Professional Home Loans can assist them with their goals.
What is the 491 Visa?
To encourage balanced growth away from the major cities, the Australian Government introduced the Subclass 491 Visa, This is a Temporary Visa which allows the visa holder to live and work in regional Australia. The 491 visa home loan allows temporary residents to pursue property ownership in Australia, provided they meet the necessary criteria and approval from the Foreign Investment Review Board (FIRB).
Current Situation for 2026
Policies regarding Foreign Buyer Surcharges and borrowing capacities have shifted. This guide outlines the most current path to homeownership for 491 visa holders.
Can I buy a house on a 491 visa?
Yes. Under current 2026 guidelines, 491 visa holders are eligible to purchase residential property in Australia. However, there are three critical factors you must consider:
FIRB Approval: Most 491 visa holders are considered “temporary residents” and must apply for Foreign Investment Review Board (FIRB) approval before signing a contract.
Lender Policy: Only a handful of Australian lenders allow 491 visa holders to borrow at high LVRs (Loan to Value Ratio).
Stamp Duty Surcharges: Depending on which state you are buying in (NSW, VIC, QLD, etc.), you may be liable for a foreign purchaser duty surcharge unless specific exemptions apply.
Property Types
When it comes to property types, Australia classifies residential properties as either “new dwellings” or “established dwellings”. For 491 visa holders who want a 491 visa home loan, the eligibility to purchase properties differs based on this classification.
Navigating the world of financing options can be challenging for 491 visa holders, as their visa type, occupation, and financial situation can significantly impact the available options.
Borrowing Limits
The borrowing limits for 491 visa holders play a crucial role in determining their ability to purchase residential property in Australia.
Lender Preferences
Lender preferences for 491 visa holders can vary significantly when it comes to purchasing residential property in Australia. Some lenders may be willing to lend up to 70% to 95% of the property value, but they may impose additional fees and higher interest rates than Australian citizens or permanent residents. On the other hand, some lenders may assess the mortgage application of 491 visa holders who are married to or in a relationship with an Australian citizen, New Zealand citizen or Australian permanent resident as if they were Australian citizens, thus offering more favorable terms.
Buying Property with an Australian Partner
If you are considering purchasing property with an Australian partner, this can offer significant benefits for 491 visa holders. You will also save yourself additional fees and hence need a smaller deposit.
Summary
In conclusion, purchasing property in Australia with a 491 visa home loan is possible, but it comes with its own set of challenges and restrictions.
What is the next step?
With Professional Home Loans as your trusted mortgage partner, we specialise in navigating the complexities of temporary residency and have established relationships with banks that are open to accommodate your unique situation. We understand the importance of securing the financing you need to achieve your homeownership dreams, and we’re here to guide you through the process every step of the way. There is no cost for our service and absolutely no obligation.
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FAQs – 491 Visa Home Loan
Can 491 visa holders get a home loan with a 5% deposit? Yes, select Australian lenders allow 491 visa holders to borrow up to 95% of the property value, provided they have stable employment in a high-demand profession and a strong credit history.
Do I need FIRB approval on a 491 visa? Yes. Since a 491 visa is a temporary resident visa, you must generally obtain approval from the Foreign Investment Review Board (FIRB) before purchasing residential property in Australia.
Will I pay the Foreign Buyer Surcharge on a 491 visa? This depends on the state. For example, in NSW and VIC, 491 visa holders are typically liable for the surcharge, while in other states, you may be exempt if you meet residency requirements.
Can I get a home loan on a 491 visa if I am self-employed? Yes, but it is more complex. Lenders usually require at least 2 years of Australian tax returns for self-employed 491 visa holders to prove income stability.
About the Author: Tom Luu
Tom Luu is a specialist mortgage broker and the founder of Professional Home Loans. With over 9 years of experience in the Australian mortgage industry, Tom specializes in complex lending scenarios, particularly for medical professionals, expats, and temporary visa holders. He is dedicated to helping clients navigate the nuances of Australian credit policies to secure the best possible financial outcomes.
Experience: 9+ Years in Mortgage Broking
Credentials: Credit Representative Number 486574
Expertise: Visa Home Loans, Professional LMI Waivers, and Expat Finance.
Getting a home loan was really simple with Professional Home Loans.
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Jack Clancy
– Physio
Michael succeeded where other brokers couldn’t due to my subclass 461 visa. Clear and prompt comms from start to finish and fantastic service.
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Alex S
Being In the Navy and away from home a lot I found it hard to find time to sought my loan out with the bank but working with Tom I found the process really easy and in the future when it’s time to go for another loan I will being looking up Tom again to use his expertise.
Anthony
Working with Michael as our mortgage broker was an absolute pleasure. He was extremely knowledgeable and went above and beyond to make sure we received the best mortgage for our needs. Michael’s communication was exceptional, keeping us informed and updated throughout the entire process. He made what can be a stressful time, a breeze.
With me being on a visa, I was told it was impossible for my partner and I to get a loan. Michael came in and told us he would be able to get our loan approved despite my visa status and safe to say he did not disappoint!
We highly recommend Michael for anyone in need of a mortgage broker. Thank you, Michael!
Komal
After having two other brokers tell us that we had to be in Australia with proof of payslips to buy a house, we had lost hope of buying from NZ before moving over. Thankfully we found Professional Home Loans online! Michael has been amazing from start to finish. His replies to my emails were always prompt and he managed to sort an issue with our paperwork before settlement. We are very grateful for Michael’s hard work. Without it we likely would have given up on our dream of moving to WA as it would have been tricky getting a rental with pets, especially during a rental crisis.
Melanie Downers
Michael is the best broker out there. Besides his credit knowledge, he was also very attentive to his clients. He makes sure that all our questions are answered and is always looking after you. Responses within minutes too if you ever reach out. People always talk about how stressful it is to apply for a home loan. As a temporary resident in Australia, Michael made the application process the easiest thing we have ever done. Fun fact! I was so amused when Michael was guiding our solicitor during the process, that’s how skilled and knowledgeable he is about his clients’ background and what they’re entitled to when it comes to purchasing a property. Thank you Michael and Professional Home Loans for the best experience!
Nicoleen Pitargue