What the 485 allows
Home Affairs describes the Temporary Graduate visa (subclass 485) as a temporary visa that lets international students live, study and work after they finish their studies. It has two streams, each with its own page.
| Stream | Who it is for | Stay |
|---|---|---|
| Post-Higher Education Work | Eligible graduates seeking work opportunities in Australia | One broker says it usually allows two to three years, with exceptions. Check the Home Affairs page for your qualification. |
| Post-Vocational Education Work | Recent international graduates with diplomas or trade qualifications | See the Home Affairs page. |
Home Affairs sets the eligibility tests and the stay for each stream on its own pages, so use those and the date on your own grant rather than a summary.
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What brokers say lenders do
Lenders publish little on the 485, so the points below come from two broker pages and are labelled that way.
- The first broker says a 485 needs a careful lender check and that a full-time job alone does not establish eligibility. Its records list the visa as unacceptable to two lenders, and a third lender does not include it among its accepted visas. It adds that this does not settle every household or lender option. Its earlier records list the student visa as unacceptable to the same two lenders.
- It says there is no confirmed deposit percentage that suits every 485 applicant: first work out whether a lender accepts the application, then ask for its maximum loan.
- The second broker (page updated 13 January 2026) lists the 485 among visas international students and graduates may use, under its former name, Skilled Graduate. For international students generally, it says lenders usually require a larger deposit of 20% to 30% or more, and that some need an Australian co-borrower or guarantor.
- A later page from that broker (updated 18 September 2026) says no Australia-wide rule requires six or 12 months on a temporary visa, and some lenders set a minimum.
The first broker adds that a joint loan with a citizen or permanent resident spouse does not follow automatically from the spouse exemption, because the lender must accept the 485 borrower. Some lenders allow the spouse to be sole owner with both on the loan, but it says to confirm that for your visa and household.
A cost example
Take a $600,000 new apartment bought in your own name. The 80% line is the broker's budget example, not a confirmed 485 limit, and the 90% line is a comparison. The fee is the 2026-27 foreign investment application fee for a new dwelling priced from $75,000 to $1 million.
| Item | At 80% | At 90% |
|---|---|---|
| Loan | $480,000 | $540,000 |
| Deposit towards the price | $120,000 | $60,000 |
| Application fee | $15,600 | $15,600 |
| Deposit plus fee | $135,600 | $75,600 |
State foreign buyer surcharges, stamp duty, legal costs and any mortgage insurance come on top, and the surcharge differs by state. See the temporary visa page for the state table and costs of buying for the usual list.
What you can buy on a 485
Treasury's guidance treats temporary residents as foreign persons. It defines a temporary resident as someone holding a temporary visa that permits a continuous stay of more than 12 months. From 1 April 2025 to 30 June 2029 the policy is that foreign persons are generally banned from buying established dwellings, and the ATO says that includes temporary residents buying a home to live in.
New dwellings and vacant land remain possible with approval, and vacant land approvals are generally conditional on building within four years. Treasury's residential real estate page lists joint tenants buying with an Australian citizen or permanent resident spouse as not needing to apply. It names joint tenants only, so ask a solicitor about any other title structure.
Moving on from the 485
Treasury's guidance says permanent visa holders do not need foreign investment approval for residential property. The broker notes that the 189 and 190 are permanent, that the 491 is provisional so does not give the same treatment, and that a move to another temporary visa needs a fresh lending check. Visa timing is uncertain, and a migration agent can say which route applies to you. See the 491 guide and 482 guide.
Keep reading
Frequently asked questions
How much time must be left on my 485?
Each lender sets its own rule. One broker says the time remaining matters more than the original visa length, and another says there is no Australia-wide minimum, though some lenders set one. Send the lender your grant notice and a current VEVO result, and do not count a visa you have applied for but not yet been granted.
Will a permanent job get my loan approved?
A stable job helps show income, according to one broker, but the lender must also accept the visa, the property and the whole application. It says employment cannot override a visa policy restriction. Whether the lender accepts the 485 is the first question, because each application can leave a credit enquiry on your credit report.
Can I buy an established home with my spouse?
Treasury's residential real estate page lists joint tenants buying with a citizen or permanent resident spouse as not needing to apply. It names joint tenants only, so your solicitor should confirm your relationship and title. A lender must still accept the loan, and a state surcharge may apply, so check both separately.
Can my citizen partner use the 5% Deposit Scheme with me?
One broker says a joint scheme loan cannot include a 485 borrower, even if the partner is an Australian citizen, and that a partner applying alone must meet the scheme and lender requirements in their own right. See first home buyer schemes for visa holders.
Sources
- Temporary Graduate visa (subclass 485), Department of Home Affairs
- Post-Higher Education Work stream, Department of Home Affairs
- Post-Vocational Education Work stream, Department of Home Affairs
- Residential real estate, Foreign investment in Australia (Treasury)
- Guidance Note 2: Key concepts (v5, 12 December 2025), Treasury
- Guidance Note 6: Residential land (v5, 1 July 2026), Treasury
- Schedule of Fees (v8, 1 July 2026), Treasury
- Foreign person definition and the ban on established dwellings, Australian Taxation Office
- 485 visa home loans, Hunter Galloway (broker page, policy checked 7 October 2026)
- Visa home loans, Hunter Galloway (broker page, earlier lender records)
- Home loans for students and graduates, Home Loan Experts (broker page, updated 13 January 2026)
- Temporary resident home loan, Home Loan Experts (broker page, updated 18 September 2026)
Checked 7 October 2026.
Expat Finance is an independent guide. It is not a lender, mortgage broker or credit provider, it does not hold an Australian credit licence, and it does not give credit, legal, tax or migration advice. It is not affiliated with any bank, the ATO or the Foreign Investment Review Board. General information only, not legal, tax, migration or financial advice.