Your visa is the first check
Neither lender page sets a minimum number of months in Australia. Westpac's page says you can apply online if you are an Australian citizen or permanent resident, and that otherwise you can talk to a lender about your options. Commonwealth Bank's page for people moving to Australia says residents holding a permanent or temporary visa should book an appointment to find out whether their visa classification is eligible.
Home Affairs runs VEVO (Visa Entitlement Verification Online). Visa holders can check their own visa details and conditions and send proof to others, and registered organisations can check them with the holder's permission. Broker pages list a current VEVO result, the passport and the visa grant notice as the usual starting documents.
The visa also decides the federal rules for the property itself. Treasury's guidance says holders of permanent visas do not need foreign investment approval to buy residential property. Temporary residents are foreign persons, and from 1 April 2025 to 30 June 2029 foreign persons are generally banned from buying established dwellings. The temporary visa home loans page covers what that means by state, and the guide to applying while PR is pending covers the in-between period.
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Documents lenders ask for
Lenders must make reasonable inquiries about your finances and take reasonable steps to verify them, according to ASIC's responsible lending page. That is why the document list is long. Broker pages for visa holders describe this set:
| Document | What it shows the lender |
|---|---|
| Passport, visa grant notice, current VEVO result | Your visa, work rights and expiry date |
| Employment contract and recent payslips | Salary, role, employment terms and any probation, plus sponsorship evidence if asked |
| Savings and bank statements | Where the deposit came from and how the account runs, with gifts and overseas transfers explained |
| Debts, credit limits and living costs | Repayments and household expenses that reduce what you can borrow |
| Contract of sale and proposed owners | The property and who will be on the loan and title |
Documents from overseas bring extra steps. See documents for an overseas home loan and the guide to translating and certifying documents.
A tax file number is free, and the ATO says it can take up to 28 days to arrive. Without one, an employer must take tax from your pay at the highest rate. The ATO also says most people must lodge a tax return, or have a tax agent engaged, by 31 October after the financial year ends. So someone who started work part-way through a financial year may have no Australian tax return to show yet, and the contract and payslips carry more of the weight.
The credit file question
Moneysmart says that if you have ever applied for credit or a loan, a credit report exists about you. In Australia, the two main credit reporting bodies are Experian and Equifax, and you have a right to a free copy of your credit report every 3 months. A report covers personal details, a score, credit products held in the last two years, repayment history, defaults and credit applications.
The published pages do not say how a lender treats a short Australian history, or whether it looks at credit history from your last country. One broker page, written for New Zealand citizens, says a credit history or banking relationship from New Zealand does not automatically carry across to an Australian approval. Asking the lender directly is the only reliable way to find out. The credit score guide for expats and new arrivals looks at this in more detail.
Deposit and savings
Moneysmart suggests a savings goal of 20% of the price plus buying costs, and says a 20% deposit avoids lenders mortgage insurance. Temporary visa holders face different limits: one broker's comparison of lenders records maximum loan sizes from 70% to 95% of the property value, so the deposit can run from 5% to 30%. The temporary residents deposit guide breaks this down.
Many lenders look at where savings came from. A broker page describes genuine savings as money built up or held over time, often for at least 3 months, with 5% of the price a common minimum where the lender requires it. These are starting points rather than rules. If your savings are in another country, see the guide to sending money to Australia for a deposit.
The Australian Government 5% Deposit Scheme is open to citizens and permanent residents at the date they sign the loan. Its Information Guide (1 July 2026) also asks that you have not held an interest in Australian property in the last 10 years, that you buy a home to live in, and that you have saved at least 5%. A new arrival who already holds a permanent visa meets the residency test on that date, and the other tests still apply. Temporary residents do not qualify.
Keep reading
- Can you get a home loan while waiting for permanent residency?
- How long do you need to work in Australia before you can get a home loan?
- Australian credit score and credit file for expats and new arrivals
- How much deposit do you need for a home loan as a temporary resident?
- Sending money to Australia for a property deposit
- Can you still get a home loan on a 457 visa?
Frequently asked questions
How long do I need to be in Australia before applying for a home loan?
No government rule sets a minimum, and the lender pages reviewed for this guide give none. Lenders look at the visa you hold, the time left on it, your job and income evidence. The employment length guide covers how long lenders say they want to see you in work.
Does my overseas credit score count in Australia?
Moneysmart describes credit reports held by Experian and Equifax and does not address overseas history. A broker says a New Zealand credit history does not automatically carry across. Ask each lender how it treats overseas history, and whether it will use other evidence of your repayments instead.
Can I get a copy of my Australian credit report?
Yes. Moneysmart says you can get a free copy of your credit report every 3 months. Experian and Equifax keep separate records, so some people check both.
Do I need an Australian tax return to apply?
No official rule says so. Broker pages list payslips and an employment contract as the usual evidence for visa holders, and each lender decides what it accepts. The ATO says tax returns are generally due by 31 October after the financial year ends.
Can a new arrival use the 5% Deposit Scheme?
Only a citizen or permanent resident can, and the scheme's other tests apply, including no interest in Australian property in the last 10 years. A temporary visa holder is outside it, and so is someone whose permanent visa has been applied for but not yet granted.
Sources
- How to apply for a home loan, Westpac
- Making the move: buying property in Australia as a foreigner, Commonwealth Bank
- Check visa details and conditions online (VEVO), Department of Home Affairs
- Guidance Note 6: Residential land, version 5, Foreign Investment (Treasury)
- Responsible lending, ASIC
- Tax in Australia: what you need to know, Australian Taxation Office
- Credit scores and credit reports, Moneysmart (ASIC)
- Buying a house, Moneysmart (ASIC)
- Australian Government 5% Deposit Scheme Information Guide, 1 July 2026, First Home Buyers
- Can you get a home loan on a temporary visa (broker page), Hunter Galloway
- 482 visa home loans (broker page), Hunter Galloway
- Genuine savings (broker page), Hunter Galloway
- New Zealand citizen home loan (broker page), Hunter Galloway
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.