Australian nurse exploring home loan options
Nursing Professionals — Up to 90% LVR

Nurses Can Save $10,000–$20,000 on Their Home Loan

As an AHPRA-registered nurse or midwife, you're recognised by select Australian lenders as a stable, essential healthcare professional. Westpac, St. George, and other participating lenders will waive Lenders Mortgage Insurance entirely for qualifying nurses — letting you buy with just a 10% deposit and save thousands. Your years of dedicated patient care translate into real financial benefits when buying your home.

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How Much Could You Save?

Indicative LMI savings for nurses borrowing at 90% LVR. Based on typical Helia/QBE premiums.

Starter home

$600,000 property

$10,400

saved on LMI

Family home

$750,000 property

$14,400

saved on LMI

Premium home

$1,000,000 property

$20,100

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 Nurses?

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 nurses? 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?

Find out in 60 seconds. It's free and there's no obligation.

Check Your Eligibility — Free

Which Nurses Qualify for an LMI Waiver?

Select lenders now recognise AHPRA-registered nurses and midwives in their LMI waiver policies. Westpac made headlines by extending its healthcare professional LMI waiver to nurses and midwives, reflecting the essential role nursing professionals play in Australian healthcare. Lenders view registered nurses as stable, essential workers with strong employment demand, reliable government-sector income, and low mortgage default rates. The key qualifier is current AHPRA registration as a Registered Nurse (Division 1) or Registered Midwife — and meeting the lender's income threshold, typically $90,000 gross annual income including allowances.

Qualifying Roles

  • Registered Nurses (RNs) — Division 1
  • Registered Midwives
  • Nurse Practitioners (NPs)
  • Clinical Nurse Specialists
  • Clinical Nurse Consultants
  • Nurse Unit Managers
  • Nurse Educators
  • Directors of Nursing
  • Research Nurses (with AHPRA registration)
  • Mental Health Nurses (with AHPRA registration)
  • Perioperative / Theatre Nurses

Typical Requirements

  • Registered with AHPRA as a Registered Nurse (Division 1) or Registered Midwife — enrolled nurses (Division 2) and assistants in nursing (AINs) typically do not qualify
  • Currently practising or employed in a nursing or midwifery role — including hospital-based, community health, aged care, private practice, and agency nursing
  • Meeting the lender's minimum income threshold — Westpac and St. George require $90,000 gross annual income (including shift penalties, overtime, and allowances). Some lenders set lower thresholds or have no minimum
  • Borrowing within the lender's maximum loan amount — typically $1M–$1.5M depending on the lender and LVR tier
  • Owner-occupied residential property — investment property LMI waivers for nurses are limited. Construction loans, vacant land, and bridging finance are typically excluded

Enrolled nurses (Division 2), assistants in nursing (AINs), student nurses, and nursing assistants do not qualify with most lenders offering nurse-specific LMI waivers. Fewer lenders offer waivers for nurses compared to doctors — typically 3–5 lenders versus 20+ for medical practitioners. The $90,000 income threshold at Westpac and St. George includes base salary plus regular shift penalties and overtime. Casual and agency nurses can qualify but income assessment is more conservative (typically averaged over 48 weeks). For joint applications with a non-nurse partner, most lenders require the nurse to hold at least a 50% property interest.

Check If You Qualify

LVR & Deposit Options for Nurses

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

Best Available

90% LVR — No LMI

10% deposit required

  • Borrow up to 90% of the property value — no LMI
  • 10% deposit — the most widely available LMI waiver tier for nurses
  • Available from Westpac, St. George, and other participating lenders
  • Requires $90,000 minimum income with Westpac/St. George (inclusive of penalties and overtime)
Learn about 90% LVR options More Lender Options

85% LVR — No LMI

15% deposit required

  • Borrow up to 85% of the property value — no LMI
  • Broader lender selection and potentially lower income thresholds
  • Lower monthly repayments compared to 90% LVR
  • People's Choice Essential Services Package available at this tier
Learn about 85% LVR options

Income Assessment for Nurses

Nursing income can be complex — base salary is often supplemented by shift penalties, overtime, weekend loadings, on-call allowances, and higher duties pay. Understanding how lenders assess these components is critical because the $90,000 income threshold at major lenders includes these allowances. Getting the income assessment right can mean the difference between qualifying and falling short.

Hospital / Permanent Nurses

  • Base salary used as primary income component
  • Shift penalties, weekend loadings, and regular overtime typically included — some lenders assess at 100%, others at 80%
  • On-call allowances and higher duties pay may be included by select lenders
  • Two most recent payslips, employment contract, and AHPRA registration confirmation required
  • Government hospital employment viewed very favourably due to income stability and job security

Agency / Casual Nurses

  • Income typically averaged over a 48-week period (allowing for annual leave equivalent)
  • Minimum 12 months of consistent agency or casual income required by most lenders
  • Tax returns or payment summaries from the past 12–24 months may be requested
  • Three to six months of recent payslips needed to demonstrate current earning capacity
  • Some lenders accept six months of income history for experienced nurses with strong booking records
Nurses with regular overtime and shift penalties often earn significantly more than their base salary — sometimes $15,000–$30,000 or more per year in additional income. This additional income can be the difference between meeting or missing the $90,000 threshold. We identify lenders that assess 100% of regular overtime and penalty income (rather than the standard 80%), which can boost your borrowing power by $50,000–$100,000 or more.

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.

Nurses LMI Waiver FAQs

Common questions about LMI waivers for nurses.

Do all nurses qualify for an LMI waiver?
LMI waivers for nurses are primarily available to AHPRA-registered Registered Nurses (Division 1), Registered Midwives, and Nurse Practitioners. Enrolled nurses (Division 2) and assistants in nursing generally do not qualify. You must hold current AHPRA registration and meet the lender's income threshold — typically $90,000 gross annual income at Westpac and St. George. Use our eligibility check to confirm your qualification in 60 seconds.
How much can nurses save by waiving LMI?
For a $600,000 property with a 10% deposit, you could save approximately $10,400 in Lenders Mortgage Insurance. For a $750,000 property, savings reach around $14,400. For a $1,000,000 property, the saving is approximately $20,100. These are indicative figures based on typical Helia/QBE premiums. Use our LMI savings calculator to estimate your exact figure.
What is the $90,000 income threshold?
Westpac and St. George require a minimum gross annual income of $90,000 for their nurse LMI waiver. This figure includes your base salary plus regular shift penalties, weekend loadings, and overtime — not just your base pay. Many registered nurses in metropolitan hospitals, particularly those working rotating shifts, meet this threshold when allowances are included. If your base salary is below $90,000 but your total income (with penalties and overtime) exceeds it, you may still qualify.
Can enrolled nurses get an LMI waiver?
Enrolled nurses (Division 2) generally do not qualify for nurse-specific LMI waivers with most participating lenders. The waiver is primarily designed for Registered Nurses (Division 1) and Registered Midwives who hold full AHPRA registration. If you're an enrolled nurse, consider whether you qualify through another profession or explore alternative pathways such as the First Home Guarantee scheme or guarantor loans.
What about nurse practitioners?
Nurse practitioners qualify under the same nurse LMI waiver policies as registered nurses. Given their typically higher income and advanced scope of practice, nurse practitioners are well-positioned to meet income thresholds. Some lenders may offer improved terms for nurse practitioners given their earning capacity. Your NP endorsement on your AHPRA registration serves as the qualifying credential.
How is casual or agency nursing income calculated?
Lenders typically average casual and agency nursing income over a 48-week period (accounting for unpaid leave equivalent to four weeks). You'll need 12 or more months of consistent work history, and lenders may request tax returns, payment summaries, and recent payslips covering three to six months. Some lenders assess agency income at 80% of the average. The key is demonstrating consistent and reliable earning patterns.
Does overtime and shift penalty income count?
Yes. Most lenders include regular overtime and shift penalties in your income assessment — this is critical for meeting the $90,000 threshold. Some lenders assess overtime at 100% of the regular amount, while others use 80% of the two-year average. Weekend and night shift loadings, special duty allowances, and on-call payments can all contribute. We identify lenders that maximise your penalty and overtime assessment.
Which banks waive LMI for nurses?
Westpac has a dedicated 'Home Ownership Support for Nurses and Midwives' program offering 90% LVR with no LMI. St. George offers similar terms under the Westpac Group umbrella. People's Choice offers an Essential Services Package at 85% LVR. Granite Home Loans also offers LMI waivers for nurses. Fewer lenders offer nurse waivers compared to doctor waivers, making broker guidance particularly valuable.
What if my income is below $90,000?
If your income falls below the $90,000 threshold, you have several options: ensure all shift penalties and overtime are included in your income calculation (this alone can bridge the gap); explore lenders with lower or no income thresholds; consider the First Home Guarantee scheme (which allows 95% LVR with no LMI for eligible first home buyers); or explore guarantor loan options. Check our deposit options page for alternative strategies.
Can I apply jointly with a non-nurse partner?
Yes. Joint applications with a non-nurse spouse or partner are accepted by most lenders. The nurse typically needs to hold at least a 50% interest in the property — an equal or majority ownership share. Both incomes contribute to loan serviceability, which can help if either partner individually falls below the income threshold. Some lenders are more flexible on ownership split requirements.
Is the LMI waiver available for investment properties?
Investment property LMI waivers for nurses are limited. Most lenders restrict their nurse waiver to owner-occupied purchases. Construction loans, vacant land purchases, and bridging finance are also typically excluded. If you're considering an investment property, check our deposit options page for strategies including reaching 80% LVR where no profession waiver is needed.
Can midwives get an LMI waiver?
Yes. AHPRA-registered midwives qualify for nurse LMI waivers on the same terms as registered nurses. Westpac's program specifically names midwives alongside nurses. You'll need current AHPRA registration as a Registered Midwife and to meet the lender's income and loan criteria. Midwives working in both hospital and community settings are eligible.
Do I need to be full-time to qualify?
Not necessarily. Some lenders accept part-time and casual nurses, though income assessment may be more conservative. The key factor is meeting the lender's income threshold — part-time nurses earning above $90,000 (including penalties and overtime) can qualify. Having consistent hours over 12 or more months and a stable employment history strengthens your application.
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 healthcare workers that include competitive rate discounts alongside the LMI waiver, providing additional savings over the life of the loan.
How does the nurse LMI waiver compare to doctors?
Nurses have fewer lender options (3–5 lenders versus 20+ for doctors), lower maximum LVR (typically 90% versus 95%), and income thresholds ($90,000) that doctors often don't face. However, the LMI savings are still substantial — $10,000–$20,000 on typical property purchases. The gap is narrowing as more lenders recognise nursing professionals. Health professionals and dentists sit between these two levels.
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 permanently employed nurses and five to ten business days for casual or agency nurses, 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.

Doctors LMI waiver
Up to 95% LVR

Doctors

AHPRA-registered medical practitioners — including GPs, specialists, surgeons, and registrars — can borrow up to 95% LVR with no Lenders Mortgage Insurance.

Learn more
Dentists LMI waiver
Up to 95% LVR

Dentists

AHPRA-registered dental practitioners — including general dentists and all 13 recognised specialties — can borrow up to 95% LVR with no Lenders Mortgage Insurance.

Learn more
Health Professionals LMI waiver
Up to 95% LVR

Health Professionals

AHPRA-registered allied health professionals — pharmacists, physiotherapists, optometrists, psychologists, and more — can borrow up to 95% LVR with no Lenders Mortgage Insurance through select lenders.

Learn more
Paramedics LMI waiver
Up to 90% LVR

Paramedics

AHPRA-registered paramedics and ambulance officers can borrow up to 90% LVR without paying Lenders Mortgage Insurance through People's Choice, Granite Home Loans, and other participating lenders.

Learn more
View all qualifying professions

Ready to Save Thousands on Your Nurse's Home Loan?

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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. The $90,000 income threshold referenced applies specifically to Westpac and St. George — other lenders may have different requirements. Always obtain personalised advice before making financial decisions.