Nurses, midwives, paramedics, police, doctors, engineers
Nurse, midwife or paramedic? Your job could mean no LMI.
Some lenders waive lenders mortgage insurance for certain professions. Some count your shift, overtime and penalty rates far better than others. Neither shows up on a bank's website, so most people who qualify never hear about it.
LMI waiver eligibility is subject to lender policy and individual circumstances. Take the 2-minute check
Checked by Rhys Butler, mortgage broker (Credit Representative 539019). Last checked 3 November 2026.
The LMI waiver, in plain English
What is an LMI waiver, and what's it worth?
Lenders mortgage insurance is the fee you normally pay when your deposit is under 20%. It protects the lender, not you.
Some lenders see certain professions as low risk and waive it, so you may be able to buy with a 10% deposit (5% for some doctors) and skip the fee.
Figures are illustrative estimates for a $700,000 purchase, and individual results vary. LMI waiver eligibility is subject to lender policy and individual circumstances. Lists, deposit limits and income minimums differ between lenders and change over time.
Shift work
Does the lender count all of your income?
For nurses, paramedics, police and firefighters, base pay is only part of the story. Overtime, penalty rates and allowances can be a big slice of what you earn.
Lenders treat that income very differently. Some count most of it once you've been in the role a while. Others shade it down or leave parts out. On the same payslips, that gap can change your borrowing power by tens of thousands of dollars (illustrative, individual results vary).
We know which lenders read shift income well, and we weigh that up with everything else before we recommend one.
A pattern we see a lot
One radiographer came to us for a first home. Six of their colleagues followed.
Health and emergency services teams talk. Once one person finds out what their job is worth to a lender, the whole ward wants to know. We're happy to explain it to your colleagues too.
Why your bank didn't mention it
The benefit lives in lender policy, not on the product page.
There's no special "nurse loan". A waiver is a rule inside a lender's credit policy that applies to a normal mortgage. Every lender keeps its own list. The profession that qualifies at one lender pays full LMI at the next. A bank can only tell you about its own list, and some banks don't have one.
Has anyone checked your registration against more than one lender's list?
Book my free Discovery CallCan nurses get an LMI waiver in Queensland?
A growing number of lenders waive LMI for registered nurses and midwives, often up to an 85% or 90% loan, sometimes with an income minimum and AHPRA registration. Lists differ between lenders and change. Eligibility is subject to lender policy and individual circumstances.
Do paramedics qualify for an LMI waiver?
Some lenders include paramedics on their health professional lists. Others don't. We check your registration and income against the lenders that do. Eligibility is subject to lender policy and individual circumstances.
I'm a police officer or firefighter. What's in it for me?
The biggest win is usually how your shift, overtime and allowances get counted. Picking a lender that reads that income well can lift your borrowing power. Waiver lists for emergency services vary more, so we check them for you case by case.
Does an LMI waiver mean a higher interest rate?
Waivers usually sit on a lender's standard mortgages, but pricing varies. We compare the full picture, including rate and fees, before we recommend one.
Can I use an LMI waiver and the 5% Deposit Scheme together?
They're two different routes to avoiding LMI, so you'd usually use one or the other. Which one suits depends on your deposit, the price of the home and the lenders involved. We set both side by side in your Strategy Session.
One quick call. See what your job could be worth.
Tell us what you do and where you work. We'll explain how we work, then check your job against lender lists before your Strategy Session.
No documents, no credit check. In most cases the lender pays us, so there's no cost to you.
What happens on the call
- Tell us what you're after.
- We'll explain how we work.
- If it makes sense, we'll book you in for a Strategy Session to go over the numbers properly.
You'll talk to a qualified mortgage broker.