Many banks and lenders will simply refuse to lend to applicants that do not hold a permanent resident visa or Australian citizenship. For  many lenders it is simply too risky to lend to an applicant without permanent residency as most are worried about what happens if the temporary resident visa is not extended. 

Is a home loan in Australia possible if I do not hold permanent residency?

Yes! Whilst many lenders will not lend to you there are a good number that will at normal standard interest rates. Thats right, you will not be paying more because you do not hold permanent residency. The key to getting approved is simply applying with the right bank and that is where MAP can help.

How much deposit will I require?

As a generaly rule, applicants for home loans that do not have a permanent resident visa will require a 20% deposit. There is an exception to this if the applicant without permanent residency is buying with an Australian Citizen or permanent resident. In this scenario a home loan with only a 5% deposit is possible. 

Does it matter what sort of temporary resident visa I am on?

It does to some lenders. Some lenders will only lend to you over 80% LVR if you are on a spouse visa subclass 309 or 820. Other lenders don't mind what sort of visa you are on providing you are buying with an Australian Citizen or permanent resident. 

Is the First Home Owners Grant ('FHOG') available if I do not hold permanent residency?

Only if you are buying with an Australian citizen or permanent resident - and otherwise qualify. If neither purchaser holds citizenship or permanent residency then the FHOG is not available. However, sometimes it is possible to get these benefits post settlement if your permanent residency visa was to come through within 1 year of purchase. 

More information: 

More information on home loans without permanent residency can be found here.