Australian IT professional exploring home loan options
Technology Professionals — Up to 95% LVR

IT Professionals Can Save $8,000–$35,000 on Their Home Loan

Australia's technology sector commands some of the strongest salaries and lowest unemployment in the workforce — and lenders recognise it. If you're a qualified IT professional with a relevant degree or industry certification, Granite Home Loans will waive Lenders Mortgage Insurance entirely, letting you buy with as little as a 5% deposit and save thousands. No minimum income requirement applies.

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How Much Could You Save?

Indicative LMI savings for it professionals borrowing at 95% LVR. Based on typical Helia/QBE premiums.

Starter home

$750,000 property

$14,400

saved on LMI

Family home

$1,000,000 property

$20,100

saved on LMI

Premium home

$1,500,000 property

$35,000

saved on LMI

See Your Estimated Savings

We compare 50+ lenders to find you the lowest rate

Commonwealth Bank
ANZ
Westpac
NAB
Macquarie Bank
ING
Bankwest
St. George
Suncorp
Bank of Queensland
AMP
Citibank
Adelaide Bank
BankSA
RAMS
Liberty Financial
ME Bank
Firstmac
Commonwealth Bank
ANZ
Westpac
NAB
Macquarie Bank
ING
Bankwest
St. George
Suncorp
Bank of Queensland
AMP
Citibank
Adelaide Bank
BankSA
RAMS
Liberty Financial
ME Bank
Firstmac
Heritage Bank
Pepper Money
La Trobe Financial
Resimac
Virgin Money
Bank Australia
Newcastle Permanent
Teachers Mutual Bank
UniBank
BankFirst
Auswide Bank
Southern Cross Credit Union
Gateway Bank
Bluestone
Better Choice
RedZed
MKM Capital
Prime Capital
Heritage Bank
Pepper Money
La Trobe Financial
Resimac
Virgin Money
Bank Australia
Newcastle Permanent
Teachers Mutual Bank
UniBank
BankFirst
Auswide Bank
Southern Cross Credit Union
Gateway Bank
Bluestone
Better Choice
RedZed
MKM Capital
Prime Capital

What Does Lenders Mortgage Insurance Mean for IT Professionals?

Lenders Mortgage Insurance (LMI) is a one-off premium charged when you borrow more than 80% of a property's value. It can cost anywhere from $10,000 to $40,000+ depending on your loan size and deposit.

Here's the important part: LMI protects the lender, not you. You pay the cost, but receive no personal benefit. It exists solely because lenders consider a lower deposit as higher risk for them.

The good news for it professionals? Many Australian lenders will completely waive LMI for professionals in approved occupations. That means you can buy with a smaller deposit and keep thousands of dollars that would otherwise go to an insurance premium you'd never benefit from.

Learn more about LMI

Could You Save on LMI?

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Which IT Professionals Qualify for an LMI Waiver?

Granite Home Loans is the primary Australian lender offering dedicated LMI waivers for IT professionals — recognising the sector's strong salaries, high demand, and low unemployment. Unlike LMI waivers for doctors or lawyers (which are offered by 20+ lenders), the IT professional waiver is currently available through Granite and must be accessed via a mortgage broker. The upside is generous: Granite offers up to 95% LVR with no minimum income requirement, accepts a broad range of IT roles, and recognises both university degrees and industry certifications as qualifying credentials.

Qualifying Roles

  • Software Engineers and Software Developers
  • Data Scientists and Data Engineers
  • Cybersecurity Specialists and Security Analysts
  • Cloud Engineers and Cloud Architects
  • Solutions Architects and Enterprise Architects
  • DevOps Engineers and Site Reliability Engineers
  • IT Managers, CIOs, and CTOs
  • Systems Administrators (senior level)
  • Network Engineers and Infrastructure Engineers
  • Database Administrators and Data Architects
  • IT Project Managers and Program Managers (select lenders)
  • IT Consultants (with qualifying credentials)
  • Software Engineers (also qualify under the Engineer category — see Engineer LMI Waiver)

Typical Requirements

  • Hold a relevant university degree in IT, computer science, software engineering, or a related field — OR hold a recognised industry certification (e.g., AWS, Azure, CISSP, CompTIA). Granite Home Loans accepts both pathways
  • Currently employed in a qualifying IT role — not on probation. Must have a minimum of 3 years PAYG income in the IT industry (not necessarily with the same employer)
  • No minimum income requirement with Granite Home Loans — eligibility is based on qualifications and role, not income level. Your income still determines borrowing capacity
  • Borrowing within Granite's tiered loan caps — $1M at 95% LVR, $1.5M at 90% LVR, $2M at 85% LVR
  • Owner-occupied residential property — investment property waivers for IT professionals are limited at higher LVR tiers

General IT support, help desk, desktop support, and junior roles may not qualify — lenders focus on degree-qualified or certified professionals in senior or specialist roles. Contractor and freelancer eligibility is possible but requires 2 years of tax returns, an ABN registered for 2+ years, and evidence of profitability. Granite Home Loans is a broker-only lender — you cannot apply directly. Software engineers may qualify under either the IT professional category or the engineer category depending on qualifications — a broker can compare both pathways.

Check If You Qualify

LVR & Deposit Options for IT Professionals

How much deposit do you need? With an LMI waiver, far less than you might think.

Maximum Savings

95% LVR — No LMI

5% deposit required

  • Borrow up to 95% of the property value — no LMI
  • Only 5% deposit required — available through Granite Home Loans (broker-only access)
  • Maximum loan amount of $1M at this tier
  • No minimum income and no genuine savings requirement with Granite
Learn about 95% LVR options Most Popular

90% LVR — No LMI

10% deposit required

  • Borrow up to 90% of the property value — no LMI
  • Higher loan cap of $1.5M — suits Sydney and Melbourne property markets
  • Same Granite Home Loans pathway via mortgage broker
  • Lower monthly repayments compared to 95% LVR
Learn about 90% LVR options Highest Loan Cap

85% LVR — No LMI

15% deposit required

  • Borrow up to 85% of the property value — no LMI
  • Maximum loan amount of $2M — the highest available for IT professionals
  • Ideal for premium properties in major capital cities
  • Most competitive rates with the lowest risk position
Learn about 85% LVR options

Income Assessment for IT Professionals

IT professionals often have diverse income structures — from straightforward salaries to complex packages including bonuses, restricted stock units (RSUs), and contracting income. How lenders assess your income depends heavily on your employment type, and some income components (like RSUs) are treated very differently across lenders.

PAYG / Salaried IT Professionals

  • Base salary is the primary income used for assessment
  • Annual bonuses typically included at 80% of the two-year average
  • RSUs and vested stock options may be considered by select lenders as supplementary income
  • Two most recent payslips, employment contract, and evidence of qualifications required
  • Fastest approval path — typically three to five business days

Contract / Freelance IT Professionals

  • Minimum two years of tax returns required — ABN must be registered for 2+ years
  • Contract income may be assessed at 80% of the rate by some lenders
  • Evidence of current contract and history of renewals strengthens the application
  • Some lenders accept one year of financials for strong, long-term contracts (12+ months remaining)
  • Freelance developers and IT consultants assessed as self-employed sole traders
IT professionals on high salaries with bonuses or RSUs can have significantly higher borrowing power than their base salary suggests. At major tech companies, RSU income can represent 30–50% of total compensation — but most lenders ignore it entirely. We identify lenders that recognise RSUs and stock-based compensation. For contractors with consistent income history, we match you with lenders that offer the most favourable assessment of contract income.

How to Get Your LMI Waived

Three simple steps between you and saving thousands.

1

Check Your Eligibility

Tell us your profession and borrowing needs. Our free tool takes 60 seconds and checks your eligibility across 50+ lenders.

2

We Match You With a Lender

We compare lender policies to find the best LMI waiver for your situation — maximising your borrowing power and minimising your costs.

3

Settlement, No LMI

Your home loan settles without paying a cent in Lenders Mortgage Insurance. That's thousands of dollars saved, straight away.

IT Professionals LMI Waiver FAQs

Common questions about LMI waivers for it professionals.

Which IT roles qualify for an LMI waiver?
Qualifying roles include software engineers, software developers, data scientists, cybersecurity specialists, cloud architects, solutions architects, DevOps engineers, IT managers, CIOs, CTOs, network engineers, database administrators, and senior systems administrators. The key factors are a qualifying university degree or industry certification, plus current employment in a specialist IT role. General IT support, help desk, and junior positions typically do not qualify. Use our eligibility check to confirm your role qualifies.
How much can IT professionals save by waiving LMI?
For a $750,000 property with a 10% deposit, you could save approximately $14,400 in Lenders Mortgage Insurance. For a $1,000,000 property, savings reach around $20,100. At 95% LVR (5% deposit) through Granite Home Loans, savings on a $1M property can exceed $35,000. Use our LMI savings calculator to estimate your exact figure.
Do I need a university degree, or will industry certifications work?
Granite Home Loans accepts both pathways — a relevant university degree in IT, computer science, or software engineering, OR a recognised industry certification. Certifications from providers like AWS, Microsoft Azure, Cisco (CCNA/CCNP), CompTIA, and (ISC)2 (CISSP) are accepted. This is a significant advantage for IT professionals who built their careers through industry experience and certifications rather than traditional university education.
I'm a contractor or freelancer — can I still get an LMI waiver?
IT contractors and freelancers can qualify, but income assessment differs from PAYG employees. You'll need a minimum of two years of tax returns, an ABN registered for at least two years, and evidence of profitability. Contract income may be assessed at 80% of your rate. Having a current contract with a strong client and a history of renewals strengthens your application. A broker can identify lenders comfortable with IT contract income.
Do RSUs and stock options count as income?
Select lenders will consider vested RSUs and exercised stock options as supplementary income, but this is not universal — most lenders focus on base salary and cash bonuses. If RSUs represent a significant portion of your compensation (common at major tech companies), we identify lenders that recognise stock-based compensation. This can substantially increase your borrowing power compared to lenders that ignore it.
Can software engineers use the IT professional or engineer waiver?
Software engineers may qualify under both categories — and the terms can differ. Under the IT professional policy, Granite requires a relevant degree or IT certification plus three years of PAYG experience. Under the engineer policy, some lenders require a four-year engineering degree specifically. A broker can compare both pathways and identify which offers the better LVR, loan cap, and lender terms for your specific qualifications.
Why is Granite Home Loans the main option for IT professionals?
The IT professional LMI waiver category is relatively new compared to medical or legal waivers, which have been available for decades. Granite Home Loans is a non-bank lender that has been proactive in recognising high-demand professions. As lender recognition grows, more options will likely emerge. The advantage of Granite is the generous terms — 95% LVR, no minimum income, and broad role acceptance — despite being the primary option.
Is there a minimum salary requirement?
No. Granite Home Loans has no minimum income requirement for IT professionals — eligibility is based on your qualifications and current role, not your income level. This is a significant advantage for early-career IT professionals or those in roles with lower base salaries but strong overall compensation. Your income still determines borrowing capacity (how much you can borrow), even when it doesn't affect LMI waiver eligibility.
I work for a startup — does that affect eligibility?
Working for a startup does not disqualify you, but lenders prefer established employers. If you're PAYG with a stable salary, your employer size matters less — the key is your qualification and role. If you have equity or variable compensation, income assessment may be more complex. Startup CTOs and co-founders with equity-heavy compensation should discuss structuring with a broker before applying.
Can I apply directly to Granite Home Loans?
No. Granite Home Loans is a broker-only lender — they do not accept direct applications. You must apply through a qualified mortgage broker. This is actually an advantage, as a broker can present your application optimally and compare Granite's terms with other options. Our free eligibility check takes 60 seconds and starts the process.
Can I use the LMI waiver for an investment property?
Investment property LMI waivers for IT professionals are limited. Granite's most favourable terms apply to owner-occupied purchases. At 85% LVR, some investment property options may be available. If you're considering an investment property, check our deposit options page for strategies including reaching 80% LVR where no profession waiver is needed.
What's the maximum loan amount for IT professionals?
Granite Home Loans offers tiered loan caps: $1M at 95% LVR, $1.5M at 90% LVR, and $2M at 85% LVR. For properties above $2M, you would need to reach 80% LVR where no LMI is required regardless of profession. IT professionals on high salaries often have the income to support these loan amounts — a broker can optimise your LVR tier based on your deposit and target property price.
Can I apply jointly with a non-IT partner?
Yes. Joint applications with a non-IT-professional spouse or partner are accepted. The IT professional typically needs to hold at least a 50% interest in the property — an equal or majority ownership share. Both incomes contribute to loan serviceability, increasing your borrowing power. Some lenders are more flexible on ownership split requirements.
What documentation do I need to apply?
Standard documentation includes: university degree certificate or industry certification evidence, two most recent payslips or payment summaries, employment contract or letter confirming your IT role and employment type, evidence of three years PAYG income in the IT industry, evidence of your deposit and savings, and standard identity documents. Contractors will also need two years of tax returns and ABN registration evidence. Your broker will provide a tailored checklist.
Will the LMI waiver affect my interest rate?
No. The LMI waiver does not change your interest rate — you receive the same rate as any other borrower at your LVR tier. Some lenders offer professional home loan packages for IT professionals that include competitive rate discounts alongside the LMI waiver, providing additional savings over the life of the loan.
How quickly can I get approved?
Check your eligibility in 60 seconds with our free eligibility tool. The LMI waiver is applied automatically as part of your home loan application — there is no separate approval process. Full loan approval typically takes three to five business days for PAYG IT professionals and five to ten business days for contractors or self-employed IT consultants, depending on the lender and complexity of your income documentation.

LMI Waivers for Other Professions

Not a match? See which other professionals qualify for LMI waivers.

Engineers LMI waiver
Up to 95% LVR

Engineers

Qualified engineers across civil, mechanical, mining, electrical, and other disciplines can access LMI waivers up to 95% LVR with select lenders.

Learn more
Accountants LMI waiver
Up to 95% LVR

Accountants

Qualified accountants — including CA, CPA, CFA, and FIAA members — can borrow up to 95% LVR without paying Lenders Mortgage Insurance.

Learn more
Bank Employees LMI waiver
Up to 85% LVR

Bank Employees

Australian bank and financial services employees may qualify for LMI waivers borrowing up to 85% LVR with select lenders.

Learn more
Lawyers LMI waiver
Up to 95% LVR

Lawyers

Admitted legal practitioners — solicitors, barristers, partners, and in-house counsel — can borrow up to 95% LVR without paying Lenders Mortgage Insurance through select lenders.

Learn more
View all qualifying professions

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The information on this page is general in nature and does not constitute financial advice. LMI waiver eligibility, savings estimates, and loan terms vary between lenders and are subject to individual assessment. Figures shown are indicative only and based on typical lender policies as of 2026. Granite Home Loans is a broker-only lender — direct applications are not accepted. The IT professional LMI waiver category is newer than medical or legal waivers and lender availability may change. Always obtain personalised advice before making financial decisions.