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Checked 7 October 2026

Can you get a home loan on a student visa?

It depends on the lender, and brokers disagree. One broker's earlier records list the student visa as unacceptable to two lenders and absent from a third's accepted list. Another says some holders may be able to borrow up to 80% of the value, with higher figures for selected borrowers. A student visa also makes you a foreign person under the foreign investment rules, which limits what you can buy even if a lender says yes. Checked 7 October 2026.

Home Affairs changed the Student visa rules from 2 October 2026. They affect who can apply for and be granted a visa while in Australia and whether family members can be included, so check your own visa position before planning around a later visa.

What the student visa itself allows

Home Affairs describes the Student visa (subclass 500) as a visa to visit Australia to study full-time at a recognised educational institution. One broker says most holders can work up to 48 hours a fortnight during term and unlimited hours during course breaks, with different rules for some postgraduate research students. The Home Affairs changes from 2 October 2026 also affect whether family members can be included. Your grant letter and VEVO show your conditions and end date.

Those points matter to a lender for different reasons: the end date sets how long the visa runs, the work limit caps the hours that produce income, and the family rule affects whether a partner's income could be part of the application.

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What lenders say and what brokers record

Lenders publish little on student visas. ANZ's quick online application is limited to Australian or New Zealand citizens and permanent residents with primary income in Australian dollars, and ANZ invites applicants who do not meet its online criteria to get in touch. Westpac's online application has a citizen or permanent resident condition and says it can discuss options with those who do not meet it. Both are conditions of the online route, not a policy statement on student visas.

The two brokers differ:

  • One says a student visa can make a loan difficult, that a 20% deposit does not automatically make the visa acceptable, and that its earlier, undated records list student visas as unacceptable to two lenders and not on a third's accepted list.
  • The other says some holders may be able to borrow up to 80% of the value, that 90% may be available to selected borrowers with certain lenders, and that up to 95% may be possible in some mixed-residency applications, such as a temporary resident applying with an Australian citizen or permanent resident. The same page also says a lender accepting the visa does not mean it will automatically lend 80% or 90%.

The first says a lender must accept the visa and the time left on it. The second lists the expiry date, the remaining course length and employment as things lenders may look at, and adds that there is no single rule across lenders on the number of months remaining.

Income and deposit questions that come up

A student's income can be limited by the visa's work limit, and the second broker says lenders may check whether hours comply with the visa and can continue once study resumes. The same broker says scholarship and stipend income is not treated consistently by lenders, and that a lender may not annualise a spike in earnings during a break.

If some money comes from overseas, see how lenders count foreign income. For a deposit gifted by family, the same broker says lenders may ask for a gift letter, evidence of the transfer and evidence of where the money came from, with a clear paper trail particularly important if it moves from overseas. See documents for an overseas home loan.

On a $600,000 new apartment at 80%, the loan is $480,000 and the deposit is $120,000. Adding the $15,600 foreign investment application fee for a new dwelling priced from $75,000 to $1 million (2026-27) gives $135,600 in cash, before stamp duty, state surcharges and legal costs.

What you can buy as a student

A visa that limits your stay means you are not "ordinarily resident" in Treasury's test, and a temporary visa that lets you stay more than 12 months in a row makes you a "temporary resident". Treasury treats both as foreign persons. From 1 April 2025 to 30 June 2029, foreign persons are generally banned from buying established dwellings, and the ATO says that includes temporary residents buying a home to live in.

Some older pages still give the end date as 31 March 2027. The ATO says the 2026-27 Budget extended the ban to 30 June 2029. New dwellings and vacant land remain possible with approval. Treasury's residential real estate page lists joint tenants buying with an Australian citizen or permanent resident spouse as not needing to apply, and names joint tenants only. The sister guide on whether foreigners can buy property in Australia covers the approval side. State surcharges are separate, so see the table on the temporary visa page.

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Frequently asked questions

Can I use money from my parents overseas as a deposit?

One broker says lenders may ask for a gift letter, the transfer record, evidence of the source and confirmation that the money need not be repaid. Whether a gift is acceptable, and whether it must be repaid, are matters for the lender and your adviser. Buying together with parents brings in their own foreign investment position.

Do I need an Australian citizen or permanent resident on the loan?

Not as a rule in what lenders publish, but brokers say a citizen or permanent resident partner can change the options. One says its student-visa figure of up to 95% applies to mixed-residency applications. The lender sets the policy and the exact structure.

Can I get the first home owner grant on a student visa?

Each state and scheme sets its own residency test. Check with the state revenue office, and see first home buyer schemes for visa holders. One broker says a joint loan with a student visa borrower does not qualify for the federal 5% deposit scheme.

Does graduating change the position?

The 485 Temporary Graduate visa is a separate visa with its own conditions. Lenders assess the visa you hold at the time. See 485 graduate visa home loans.

Sources

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.