The 2026 Guide to Buying Your First Home in Australia as a Nepali Migrant
For the Nepali community in Australia, owning a home is more than an investment. It is proof that the move worked. This guide sets out what applies in 2026: which visas can borrow and how much, what changed in the government schemes, what the foreign investment rules now allow, and how to plan the purchase from pre-approval through to settlement.
Three things have changed since most online guides were written. Income caps on the First Home Guarantee are gone. The Help to Buy shared equity scheme is open. And foreign persons, including temporary visa holders, can no longer buy established homes. Each one changes the plan.
The 2026 Lending Environment
The Reserve Bank of Australia cash rate target is 4.35%, unchanged at the decision on 12 August 2026. Lenders price their own rates off that plus their funding costs and competition, so the rate you are offered depends on your deposit size, loan purpose and lender, not only on the cash rate.
What matters more for your application is the assessment rate. Lenders test your repayments at a buffer above the actual rate, which is why an online calculator can suggest a far larger loan than a lender will approve.
What to check with any lender in 2026
- The comparison rate, not only the headline rate
- Whether an offset account is included and what the package fee costs
- Extra repayment limits on fixed rates, and break cost exposure
- The maximum loan to value ratio for your visa type
- Whether the lender accepts your income type, including overtime, allowances and second jobs
Visa Eligibility and What You Can Borrow
Your residency status is the single biggest factor in your options. It decides which lenders will look at you, what deposit you need, and whether the government schemes are open to you.
| Status | Typical maximum LVR | Government schemes | Foreign investment approval |
|---|---|---|---|
| Citizen or permanent resident | Up to 95% | Full access | Not required |
| Partner visa with citizen or PR spouse | Up to 95% | Through the eligible partner | Not required if joint tenants |
| 491 regional | Commonly up to 90% | Not eligible | Required |
| 482 skills in demand | Commonly up to 90% | Not eligible | Required |
| 485 graduate or 500 student | Often 20% deposit required | Not eligible | Required |
These are common positions across lender panels rather than a promise. Policy differs by lender and changes often, which is why the lender should be chosen before the property.
Permanent residents
Permanent residents are assessed the same way as Australian citizens. That covers subclasses such as 189, 190, 186, 887 and 801, and New Zealand citizens on a subclass 444 visa are treated as permanent residents for the First Home Guarantee. You get the widest lender choice, access to every government scheme you otherwise qualify for, and no foreign investment approval or surcharge duty.
Skilled Work Regional, subclass 491
Many lenders will consider a 491 holder with stable regional employment and reasonable time left on the visa. Expect a larger deposit than a permanent resident needs, and expect foreign investment approval to be part of the purchase. The upside is that whole cities count as regional for migration purposes, including Perth, Adelaide, Hobart, Darwin and Canberra, along with centres such as Geelong, Ballarat, Bendigo, Newcastle, Wollongong, the Gold Coast, the Sunshine Coast and Toowoomba.
Skills in Demand, subclass 482
Lenders look for stable employment with your sponsor and enough time remaining on the visa, commonly twelve months or more. Some lenders want a 20% deposit. Foreign investment approval applies, and the property type rules below limit what you can buy.
Partner visas, subclass 820 and 801
If you are buying with a spouse who is an Australian citizen or permanent resident and you take the title as joint tenants, the purchase is generally treated as exempt from foreign investment approval, and your partner's eligibility opens the government schemes. Tenants in common does not achieve the same result. Confirm the structure with your conveyancer before you sign.
Foreign Investment Rules for Temporary Visa Holders
Established homes are closed to foreign persons until 30 June 2029
From 1 April 2025 to 30 June 2029, foreign persons, including temporary residents, cannot purchase established dwellings in Australia unless a limited exception applies. The old rule allowing one established home to live in no longer applies to new purchases.
If you hold a temporary visa and are buying in your own name, plan around a new or near-new dwelling or vacant land you will build on.
Application fees from 1 July 2026
| Property value | New or near-new dwelling, and vacant land | Established dwelling |
|---|---|---|
| $1 million or less | $15,600 | $46,800 |
| $1m to $2m | $31,300 | $93,900 |
| $2m to $3m | $62,600 | $187,800 |
Fees are indexed every 1 July and are not refundable, even if the application is refused or the sale falls through. On top of the fee, most states charge a foreign buyer duty surcharge of 7% to 9% of the property value, which is usually the larger cost of the two.
The annual vacancy fee
Once you own the property, it must be occupied or genuinely available for rent for at least 183 days each year, and you must lodge a vacancy fee return every year. The fee for a vacant property is double the application fee, so $31,200 a year on a property that attracted a $15,600 fee.
Government Schemes in 2026
These schemes are for citizens and permanent residents only
The First Home Guarantee and Help to Buy both require Australian citizenship or permanent residency. If you are on a temporary visa, plan your deposit without them, and revisit once your permanent residency is granted.
First Home Guarantee, 5% deposit with no LMI
What changed
- Income caps removed. The old $125,000 single and $200,000 couple limits no longer apply.
- Places are no longer capped. There is no annual allocation to race for.
- 5% deposit, with the government guaranteeing the rest so no lenders mortgage insurance is payable.
- Higher property price caps across every state and territory.
You must be 18 or over, an Australian citizen or permanent resident, buying your first home or not having owned Australian property in the past ten years, and you must live in the property.
| State or territory | Capital and major centres | Rest of state |
|---|---|---|
| New South Wales | $1,500,000 | $800,000 |
| Victoria | $950,000 | $650,000 |
| Queensland | $1,000,000 | $700,000 |
| South Australia | $900,000 | $500,000 |
| Western Australia | $850,000 | $600,000 |
| Tasmania | $700,000 | $550,000 |
| Australian Capital Territory | $1,000,000 | Not applicable |
| Northern Territory | $750,000 | $600,000 |
How it works on an $800,000 Melbourne purchase
- Your deposit at 5%: $40,000
- Loan amount: $760,000
- Lenders mortgage insurance: nil, because the government guarantees the shortfall
- You still need cash for duty, conveyancing, inspections and moving on top of the deposit
Help to Buy, shared equity
Help to Buy launched in December 2025. The government takes an equity share in your home so you borrow less.
- Government equity of up to 40% for a new home and up to 30% for an existing home
- Deposit from 2%
- Income caps of $100,000 for a single and $160,000 for a couple or single parent
- Around 10,000 places a year, and a small lender panel at this stage
- Property price caps apply by state and region
The trade-off to understand before you apply
The government's share grows with your property. If a $700,000 home with a 40% government share rises to $900,000, that share is worth $360,000 rather than $280,000. You can buy the share out in stages, so model the buy-back before you commit.
State first home owner grants
In every state and territory that still pays a grant, it applies to a new home only, which means a newly built house, an off the plan apartment, a house and land package, or an owner-builder home. Established homes do not qualify.
| State or territory | Grant | Property value cap |
|---|---|---|
| Northern Territory | $50,000 | No cap |
| Queensland | $30,000 | Under $750,000 |
| Tasmania | $20,000 | No cap |
| South Australia | $15,000 | No cap |
| Victoria | $10,000 | $750,000 |
| New South Wales | $10,000 | $600,000 built, $750,000 land and build |
| Western Australia | $10,000 | $800,000 south, $1,000,000 north |
| Australian Capital Territory | No grant | Duty concession scheme applies instead |
Stamp duty concessions for first home buyers sit separately from the grant and are usually worth more. They differ in every state and change at each budget, so check the current thresholds with the relevant state revenue office before you set your price range.
LMI Waivers for Professionals
Many people in our community work in professions that some lenders treat as lower risk. If you are a doctor, nurse, accountant, lawyer or engineer, a lender may waive lenders mortgage insurance at a higher loan to value ratio than usual, which can save fifteen to thirty thousand dollars on a typical purchase.
| Profession group | Commonly available LVR | Typical conditions |
|---|---|---|
| Medical, including doctors, dentists, vets and pharmacists | Up to 95% with some lenders | Registration plus minimum income |
| Nursing and midwifery | Up to 90% with some lenders | AHPRA registration, income thresholds apply |
| Accounting, CA and CPA | Up to 90% with some lenders | Membership plus minimum income |
| Legal, admitted practitioners | Up to 90% with some lenders | Practising certificate plus minimum income |
| Engineering and other listed professions | Up to 90% with some lenders | Varies widely by lender and discipline |
Every lender publishes its own list, its own income thresholds and its own maximum loan size, and lists change without notice. Treat the table as a starting point for a conversation, not as an entitlement.
Waiver or First Home Guarantee
In most cases you use one or the other. The guarantee suits a smaller deposit within the price caps. A professional waiver suits a purchase above the caps where you have 10% saved. The right choice depends on your deposit, the property price and the lender's policy on your income type.
Where the Community Is Buying
Location decides your commute, your children's schools, your access to temples and grocers, and your resale pool. These are the corridors where Nepali and Indian families have concentrated, and where our clients most often buy.
Melbourne, west
Tarneit, Truganina, Werribee, Wyndham Vale, Point Cook, Hoppers Crossing, Williams Landing, Manor Lakes, Caroline Springs, Deer Park, St Albans, Sunshine
Melbourne, north
Craigieburn, Mickleham, Roxburgh Park, Greenvale, Epping, South Morang, Mernda, Mill Park, Lalor, Donnybrook, Kalkallo, Wollert
Melbourne, south east
Dandenong, Noble Park, Springvale, Clyde North, Cranbourne, Pakenham, Officer, Berwick, Narre Warren, Clayton
Sydney, west and north west
Blacktown, Mount Druitt, Rooty Hill, Doonside, Schofields, Marsden Park, Box Hill, Rouse Hill, Kellyville, Glenwood, St Marys, Penrith, Jordan Springs
Sydney, central and south west
Harris Park, Parramatta, Westmead, Wentworthville, Toongabbie, Girraween, Merrylands, Granville, Liverpool, Hoxton Park, Edmondson Park, Oran Park, Leppington, Campbelltown, Minto, Ingleburn
Brisbane and Logan
Woodridge, Kingston, Marsden, Browns Plains, Beenleigh, Springwood, Eagleby, Inala, Darra, Richlands, Forest Lake, Goodna, Ipswich, Springfield
Brisbane, north
Caboolture, Morayfield, Narangba, Burpengary, Mango Hill, North Lakes, Petrie, Strathpine, Redcliffe, Kippa-Ring
Perth
Baldivis, Wellard, Ellenbrook, Aveley, The Vines, Yanchep, Alkimos, Butler, Clarkson, Byford, Piara Waters, Harrisdale, Canning Vale, Thornlie, Midland, Mandurah
Adelaide
Elizabeth, Salisbury, Munno Para, Smithfield, Craigmore, Gawler, Morphett Vale, Christie Downs, Seaford, Woodville, Findon, Modbury
Canberra
Gungahlin, Franklin, Harrison, Palmerston, Ngunnawal, Belconnen, Kambah, Wanniassa, Chisholm, Florey, Macgregor
Regional centres, 491 pathway
Geelong, Ballarat, Bendigo, Shepparton, Wodonga, Newcastle, Wollongong, Wagga Wagga, Gold Coast, Sunshine Coast, Toowoomba, Cairns, Bunbury, Albany, Hobart, Launceston
Want the numbers for a shortlist
Median prices, recent sales and rental yields move every quarter, so we do not publish a static table. Send us three or four suburbs you are considering along with your budget and work location, and we will put current figures in front of you.
The Path to Settlement
Financial health check
Work out your deposit and costs, check your credit report, and list every income source, debt and regular expense, including money you send home. Gather passport and visa documents, three months of payslips, three to six months of bank statements, your employment contract, and two years of tax returns if you are self employed.
Pre-approval
We compare lender policy against your visa, income type and deposit, then arrange pre-approval so you know your budget and can offer with confidence. Pre-approval is usually valid for three to six months and remains subject to valuation and final assessment.
Foreign investment approval, if you need it
Temporary visa holders apply through the ATO portal once a property is identified, with the contract made conditional on approval. Allow 30 to 90 days.
Property search
Search the major portals, attend inspections, and check the suburb at different times of day. Order a building and pest inspection before you commit, and read the full report rather than the summary.
Contract review and offer
Have a conveyancer or solicitor review the contract before you sign. They check title, easements, zoning, special conditions and settlement terms.
Formal approval
We submit the signed contract, the lender orders a valuation and completes its final assessment, then issues formal approval.
Settlement preparation
Budget for stamp duty, conveyancing of about $1,200 to $2,000, inspections of about $400 to $600, lender fees, insurance from exchange, and moving costs. Add the foreign investment fee and duty surcharge if they apply to you.
Settlement
Funds are exchanged, title transfers, and you collect the keys.
After settlement
We review your loan annually, check your rate against the market, and handle any restructure or refinance as your circumstances change.
Remittances, Gifted Deposits and Guarantors
Money you send home
Regular transfers to family in Nepal or India are treated as a living expense and do reduce your borrowing capacity. Declare them accurately. Lenders read your statements, and an undeclared pattern of transfers is one of the fastest ways to have an application questioned. We structure the application around the real figure and select lenders whose treatment of it is most reasonable.
A gifted deposit from family
What lenders usually ask for
- A statutory declaration from the family member confirming the money is a gift and not repayable
- Bank statements showing the transfer and its source
- An explanation of how the funds were accumulated overseas
- In some cases, the funds held in your Australian account for a period before the application
Australia has no gift duty, so a genuine family gift is generally not taxed. Large international transfers are reported for anti-money laundering purposes, which is exactly why clean documentation matters.
A parent or family guarantor
A guarantor uses equity in their own property as additional security, which can remove the need for a large deposit and avoid lenders mortgage insurance. It is common in our community and it works well when everyone understands the structure.
Understand the risk before anyone signs
The guarantor's property is at risk if the loan is not repaid, and the guarantee can reduce their own borrowing capacity while it is in place. A guarantee can usually be released once enough equity is built in your property. Every guarantor should get independent legal advice.
Ten Mistakes to Avoid
- House hunting before pre-approval. You cannot negotiate properly without knowing your limit.
- Borrowing to your maximum. Leave room for rate rises, repairs and a period of reduced income.
- Budgeting only for the deposit. Duty and costs commonly add another 5% to 10% of the purchase price.
- Skipping the building and pest inspection. A few hundred dollars against a six figure risk.
- Choosing a suburb on price alone. Test the commute, visit at night, check flood and development history.
- Bidding past your ceiling. Auctions are built to create urgency. Set the number in advance and tell whoever is with you.
- Signing before a solicitor reads the contract. Special conditions are where the surprises live.
- Taking the first lender you know. Policy differences matter more than headline rates for migrant applicants.
- Changing jobs mid application. Talk to us first, because a change can be workable if it is managed early.
- Relying on an outdated guide. The established dwelling ban and the scheme changes have made a lot of online advice wrong.
Why Work With Everest Home Loans
Your language
Full service in English, Nepali and Hindi, so you understand every clause of your contract and your loan.
Visa expertise
Permanent residents, 491, 482 and partner visa applicants. We know which lenders accept which visas and what each one asks for.
A broad lender panel
More than 50 lenders including the major banks, regional banks and specialist lenders.
Scheme knowledge
First Home Guarantee, Help to Buy, state grants and duty concessions, and professional LMI waivers.
Community connection
Active in the Nepali and Indian community, with 450 plus verified five star Google reviews and a 5.0 rating.
Support that continues
Annual loan reviews, rate checks and refinance advice long after settlement.
Frequently Asked Questions
Can I buy property in Australia on a temporary visa?
Yes, with foreign investment approval, but your options are narrower than they used to be. Foreign persons including temporary residents cannot purchase established dwellings between 1 April 2025 and 30 June 2029, so a 482, 491, 485 or 500 holder buying in their own name is looking at a new or near-new dwelling or vacant land. Lenders commonly allow up to 90% for 482 and 491 holders with stable employment, and some require a 20% deposit.
How much deposit do I need?
Citizens and permanent residents can buy with 5% through the First Home Guarantee, or from 2% through Help to Buy if they meet the income caps. Temporary visa holders are usually looking at 10% to 20%. Eligible professionals may access a lender waiver at 90% or 95% without mortgage insurance. A family guarantor can reduce the deposit required further. Costs on top of the deposit are separate in every case.
What are the foreign investment fees in 2026?
From 1 July 2026, a new or near-new dwelling or vacant land valued at $1 million or less attracts a fee of $15,600, rising to $31,300 between $1m and $2m. Established dwelling fees are about three times higher but are largely academic for temporary residents while the purchase ban applies. Fees are indexed each 1 July and are not refundable.
Can I use money from my family in Nepal for the deposit?
Yes. Most lenders accept a genuine gift from family overseas. You will generally need a statutory declaration confirming the money is a gift rather than a loan, bank statements showing the transfer, and an explanation of where the funds came from. Some lenders want the money held in your Australian account for a period before you apply, so move it early.
Will the money I send home affect my loan?
Yes. Regular remittances are assessed as a living expense and reduce your borrowing capacity. Declare them accurately rather than hoping they go unnoticed, because lenders read your transaction statements. We choose lenders whose expense treatment suits your situation and structure the application around the real numbers.
What is the First Home Guarantee and am I eligible?
It lets eligible buyers purchase with a 5% deposit without paying lenders mortgage insurance, because the government guarantees the shortfall. Income caps and place limits have been removed. You must be 18 or over, an Australian citizen or permanent resident, buying your first home or not having owned Australian property for ten years, and you must live in the property. The purchase price must sit under the cap for your location, for example $950,000 in Melbourne and $1,500,000 in Sydney.
How much can I borrow?
There is no simple multiple of income. Lenders assess your verified income against your debts, credit limits, living expenses and dependants, then test the repayment at a buffer above the actual rate. Two households on the same income can receive very different answers. The only reliable figure comes from running your numbers through specific lender policy.
Should I choose a fixed or variable rate?
Fixed gives repayment certainty but limits extra repayments and can carry break costs. Variable offers flexibility, offset and redraw, but repayments can rise. A split loan gives you some of each. The right answer depends on your cash flow, how long you plan to hold the loan, and how much certainty you need in the next few years.
Which suburbs do you recommend for Nepali families?
In Melbourne the western corridor around Tarneit, Truganina and Werribee and the northern corridor around Craigieburn and Mickleham have the strongest community presence, along with Dandenong and Noble Park in the south east. In Sydney, Blacktown, Mount Druitt, Harris Park, Parramatta and Liverpool. In Brisbane, the Logan corridor around Woodridge, Kingston and Marsden. In Perth, Baldivis, Wellard and Ellenbrook. The right suburb depends on your work location, budget and schools, so treat these as a starting point.
How long does the whole process take?
Pre-approval commonly takes a few days once documents are in. Property search varies from a few weeks to several months. Foreign investment approval adds 30 to 90 days where it applies. Formal approval after a signed contract usually takes about a week, and settlement is commonly 30 to 90 days from exchange. Most buyers are two to four months from pre-approval to keys.
Start with a conversation in your own language
We will work out what you can borrow, which schemes you qualify for, and what the purchase will actually cost, before you start looking at properties. There is no cost to you for our service.
Book a free consultation Call 0431 790 889Phone: 0431 790 889 or 03 9005 3955
Email: raj@everesthomeloans.com.au
Office: 35 Captain Pearson Drive, Mickleham VIC 3064
Rated 5.0 on Google from more than 450 reviews
Rajesh Kandel
Director and Senior Mortgage Broker at Everest Home Loans. A mortgage broker since 2015, Rajesh works with first home buyers, temporary visa holders, refinancers and investors across Australia, with multilingual support in English, Nepali and Hindi.
Sources
- Reserve Bank of Australia, cash rate target: rba.gov.au
- Australian Taxation Office, residential fees for a foreign person: ato.gov.au
- Foreign Investment Review Board, changes to foreign purchases of established dwellings: foreigninvestment.gov.au
- Housing Australia, Home Guarantee Scheme: housingaustralia.gov.au
- State and territory revenue offices, first home owner grants and duty concessions
This article is general information only and is current as at September 2026. It does not take into account your objectives, financial situation or needs. Government schemes, grant amounts, price caps, foreign investment fees and lender policies change regularly. Confirm the current position with Housing Australia, the Australian Taxation Office and the relevant state revenue office before acting. Lending criteria, terms, conditions, fees and charges apply. Everest Home Loans is a credit representative operating under an Australian Credit Licence.
Book an appointment with our Mortgage and Finance Broker for expert guidance on home loans, refinancing, investment properties, and more.
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At Everest Home Loans, we are more than just a mortgage broker. We are your dedicated partners on your journey to homeownership.
Contact
0431 790 889
03 9005 3955
raj@everesthomeloans.com.au
35 Captain Pearson Drive,
Mickleham VIC 3064
Kandel & Co Pty Ltd t/a Everest Home Loans is an Authorised Credit Representative – 506833, and Rajesh Kandel is an Authorised Credit Representative number – 476341 of Connective Credit Services Pty Ltd ABN 77 161 731 111 (Australian Credit Licence No.389328).
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