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LMI waivers up to 90%
With an eligible waiver, you can borrow up to 90% of the property value without paying LMI. That can mean buying with a 10% deposit and saving thousands.
Nurses and midwives earn their income in a way that does not always fit a standard lending template. Base pay is often topped up by shift allowances, overtime and penalty rates, and how a lender treats that extra income can make a real difference to how much you can borrow.
The good news is that lenders increasingly recognise essential workers, and home loans for nurses can come with genuine advantages. A number of lenders, including some major banks, waive lenders mortgage insurance (LMI) for eligible registered nurses and midwives up to 90% of the property value, typically with a minimum income around $90,000 and current registration with the Australian Health Practitioner Regulation Agency (AHPRA). Many lenders will also count a sensible portion of your shift and overtime income when others would ignore it. As trusted Melbourne finance brokers, we make sure your real earning power is presented to a lender that values it.
If you are buying your first place, the grants and concessions for first home buyer loans can stack on top of these nurse policies.
Are you a nurse or midwife looking to buy? Call us on 1300 562 696 and we will show you what your income can really support.
The Benefits for Nurses
A nurse home loan uses standard products, but the right lender applies policies that suit how you actually earn. These are the benefits that matter:
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Credit for shift and overtime income
Many lenders will include a reasonable portion of your overtime, shift allowances and penalty rates when assessing how much you can borrow. A lender that ignores this can materially underestimate what you can afford.
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Recognition as an essential worker
Stable, ongoing demand for nursing is viewed favourably by lenders. That stability can support your application even where income is partly variable.
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Pathways for casual and agency nurses
Casual and agency work is common in nursing, and some lenders handle it far better than others, counting consistent casual income with a sufficient work history. Matching the right lender opens doors a bank branch might close.
How Lenders Read a Nurse’s Income
The way your income is assessed is the single biggest factor in what you can borrow, and it varies widely between lenders:
| Income type | How lenders usually treat it |
|---|---|
| Base salary | Counted in full |
| Overtime | Counted in part (often 50-100%) with a consistent history |
| Shift and penalty allowances | Counted in part, proven on payslips |
| Casual or agency work | Counted with a consistent history, often 6-12 months |
| Second job | Counted in some cases with a sufficient track record |
This table is a general guide only. How much of each income type counts varies by lender, your history and the property, so the right match shapes your borrowing power.
Deposit, LMI and Getting Started
A 20% deposit avoids LMI, but few first buyers have that, and for nurses there are ways to bridge the gap:
- LMI waivers up to 90% to buy with a smaller deposit
- first home buyer grants and concessions to lower the upfront cost
- a guarantor or the Australian Government 5% Deposit Scheme to remove the LMI hurdle entirely
The right combination depends on your deposit, your income and your goals. We map the options for an essential worker home loan so you can see the real cost of buying now versus waiting to save more.
Why Nurses Work With Loanworx Group
The difference between lenders on income treatment and LMI for nurses is large and not advertised. As nurse mortgage brokers, we make those policies work in your favour:
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We know which lenders value your income
Which lenders count the most overtime and shift income, which handle casual and agency work, and which waive LMI for nurses up to 90%. With over 1500 products, we find the strongest fit.
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We present your application well
The right payslips, the right history, and the income explained clearly to the right lender. Presentation matters, and it is often the difference between a modest approval and the one you actually need.
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We make it straightforward
You work demanding hours. We do the legwork, keep things clear and calm, and aim to make the whole experience supported and stress-free from first chat to settlement.
Buying as a Nurse or Midwife? Let’s Talk
Your income is worth more than a standard assessment allows. Loanworx Group will match you to a lender that recognises shift work and, where you qualify, cuts the cost of LMI. Call us on 1300 562 696.
Who We Help
Nurses are one of many professions we help into a home on better terms. Explore the other groups below, or pass this on to someone in your network.
Doctors
Medico home loans with LMI waived at high LVRs, plus rate and fee benefits for medical practitioners.
Pharmacists
Tailored home loans and LMI waivers for pharmacists and community pharmacy owners.
Engineers
Professional home loan benefits and LMI waivers for qualified and chartered engineers.
Lawyers
LMI waivers and professional packages for solicitors, barristers and legal professionals.
Dentists
Medico-tier home loans and LMI waivers for dentists, specialists and practice owners.
Self-Employed
Full-doc and low-doc home loans for business owners and the self-employed.
Low Doc Loans
Home loans with alternative income verification when standard payslips don’t fit.
Teachers
Home loan options and waivers available to teachers and education staff.
LMI Waivers
Borrow up to 90% or more without lenders mortgage insurance, if you qualify.
IT Contractors
Home loans structured for contract and day-rate IT professionals.
Government Help
First home grants, schemes and concessions, explained and matched to you.
Frequently Asked Questions (FAQs)
Can nurses get an LMI waiver?
Yes. A number of lenders, including some major banks, waive LMI for eligible registered nurses and midwives up to 90% of the property value, usually with a minimum income around $90,000 and current AHPRA registration. We confirm which lenders apply it to your situation.
Will lenders count my overtime and shift allowances?
Many will count a reasonable portion of your overtime, shift allowances and penalty rates, proven with recent payslips. How much counts varies between lenders, and choosing one that reads your income fairly can noticeably increase what you can borrow.
Can I get a home loan as a casual or agency nurse?
Yes, with the right lender. Lenders generally want to see a consistent work history, often six to twelve months. A steady pattern of casual income can be very usable, though some lenders handle it much better than others.
How much deposit do nurses need?
A 20% deposit avoids LMI, but eligible nurses can often borrow up to 90% with an LMI waiver, meaning a 10% deposit. Grants, a guarantor or the Australian Government 5% Deposit Scheme can help further.
Do I need to be AHPRA registered?
For a nurse LMI waiver, generally yes. Lenders require current registration with AHPRA as a registered nurse or midwife. Your registration helps evidence eligibility for the concession.
Do these benefits apply to first home buyers?
Yes. Nurse income policies and first home buyer grants and concessions can stack, lowering both your deposit hurdle and your upfront costs. We make sure you claim everything you are entitled to as part of structuring your loan.
Does it matter if I work public or private?
The principles are similar across public hospitals, private facilities and community roles, but penalty rate structures differ. A lender familiar with health sector pay reads your income more accurately, which is part of why the lender choice matters.
Can a broker really get me a better outcome?
Often, yes, and it usually costs you nothing. For most home loans the lender pays our commission, not you, and under the best interests duty (BID) we recommend the loan that suits you, not the one that pays us most. We match you to a lender that values your income and, where eligible, waives your LMI, then present your file for the best result.
