What lenders actually offer Australian nurses and what the conditions are
LMI waiver up to 90% LVR
On a standard home loan, borrowing above 80% of a property’s value triggers Lenders Mortgage Insurance. On a $700,000 purchase with a 10% deposit, LMI typically adds $14,000 to $20,000 to your upfront costs, either paid at settlement or capitalised into the loan.
Select lenders waive this entirely for registered nurses borrowing up to 90% LVR. To qualify you generally need to be registered with the Australian Health Practitioner Regulation Agency (AHPRA), employed in a nursing role (including agency and part-time in most cases), and borrowing within the lender’s maximum loan size for the waiver. Each lender sets its own conditions. Some extend the waiver to Enrolled Nurses. Others limit it to Registered Nurses. A broker who knows each lender’s current policy can tell you exactly which ones you qualify for before any application is lodged.
100% income assessment including overtime and shift allowances
Standard lender policy shades irregular income. If you work overtime regularly, most lenders will only count 80% of it — sometimes less. For nurses, where overtime and penalty rates can represent 20% to 40% of total income, this materially reduces borrowing capacity.
A number of lenders on our panel classify nursing as an essential worker category and assess 100% of overtime, allowances, and shift penalties as standard income. This is not a guarantee as it depends on your employment history and the lender’s policy at the time of application but it is a meaningful difference in what you can borrow. A nurse earning $95,000 base with $20,000 in regular overtime could see their borrowing capacity increase by $80,000 to $100,000 depending on the rate and lender used.
Rate concessions for nursing professionals
Some lenders offer interest rate discounts to nurses as part of a professional package that also includes waived annual fees and access to offset accounts. The rate differential varies by lender and changes with market conditions, but the combination of a lower rate, waived LMI, and full income assessment makes the total benefit significant for eligible borrowers.
What Stanford Financial does differently for nurses
We are a Springfield-based mortgage brokerage with access to over 50 lenders. When a nurse comes to us, the first step is not a rate comparison. It is confirming which lenders will actually accept your registration type, employment structure, and income mix without shading, then identifying which of those offer the LMI waiver and at what LVR. We do this before lodging any application, so you are not wasting a credit enquiry on a lender whose policy does not suit your situation.
We have helped nurses across Queensland and nationally to access LMI waivers, structure loans around shift-based income, and navigate the complications that come with part-time or agency employment. If you have been told your income is too variable or your deposit is not large enough, it is worth getting a second assessment before accepting that answer.
Why Choose Stanford Financial?
Personalised finance solutions
At Stanford Financial, we specialise in crafting finance solutions that resonate with your individual financial circumstances and lifestyle needs.
By thoroughly assessing your financial profile, we ensure the home loan we recommend is the perfect fit for you.
Access to over 50 lenders
We have strong connections with a diverse network of more than 50 lenders, which means we can offer a wide range of home loan options.
This helps us secure the most competitive rates and favourable terms available, specifically suited to your unique needs.
You’ll have access to the best the market has to offer, all in one place.
Award-winning brokerage
Rooted in our founding principles of providing industry expertise, client education, and empowerment, Stanford Financial is dedicated to building trust, transparency, and enduring relationships.
Our commitment to our clients has been recognised with multiple industry accolades.
This includes notable finalist nominations and awards such as the prestigious 2022 MFAA Diversified Business and Newcomer Award.
Nationwide service
Wherever you are in Australia, Stanford Financial’s services are available to you.
Our nationwide reach ensures that every nurse has the opportunity to benefit from our expert home loan advice and support, no matter their location.
We bring our award-winning brokerage services directly to you, making the journey to homeownership as smooth and accessible as possible.
Book your free assessment today
Book a free assessment with Stanford Financial. We will confirm which lenders on our panel suit your registration type and income structure, model your borrowing capacity with the correct income assessment, and give you a clear picture of your options before anything is lodged.
Call 0483 980 002 or book online.
Nurse Home Loan FAQs
Do agency nurses qualify for the LMI waiver?
Some lenders extend the waiver to agency nurses, others require a minimum period of permanent or casual employment with the same employer. This varies by lender and is something we check against each panel lender’s current credit policy before recommending a lender to you.
Can I use overtime and shift allowances to increase my borrowing capacity?
Yes, with the right lender. Lenders that classify nursing as an essential worker profession will assess 100% of documented overtime and shift income. You will generally need two years of tax returns or payslips showing the income is regular rather than occasional.
I only have a 10% deposit. Can I still buy without paying LMI?
Yes, if you are a registered nurse borrowing within the lender’s LMI waiver limit. The waiver applies at up to 90% LVR for eligible borrowers, meaning a 10% deposit is sufficient to avoid LMI entirely with those lenders.
Does my AHPRA registration need to be current?
Yes. All lenders that offer nurse-specific concessions require current AHPRA registration at the time of application. Enrolled Nurses are eligible with some lenders but not all.
What if I am buying an investment property rather than my own home?
LMI waivers typically apply to owner-occupied purchases. Investment property applications are assessed under standard LMI rules in most cases, though the income assessment concessions and rate discounts may still apply.
