Essential Workers Home Loan

If you work in a role that keeps Australia running like policing our communities, caring for patients, teaching future generations, or responding to emergencies, some lenders will reward your service with big home loan benefits.

That includes borrowing up to 90–95% of the property value with no Lenders Mortgage Insurance (LMI) and using 100% of your overtime, penalties and allowances to boost your borrowing power.

This means you may be closer to buying a home than you think.

How Much Can Essential Workers Borrow?

• Up to 95% of the property value, with LMI waived
• Up to 100% of the property value, with a guarantor

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Which Lenders Waive LMI For Essential Workers?

Major lenders, credit unions and specialist lenders waived LMI for essential workers in Australia.

Using the assessment tool, you can find out the number of lenders who offer waived LMI for essential workers. You can also get exact figures on how much you save on LMI.

Check if you are eligible for Waived LMI

Choose Your Occupation

Select the option that closely matches your profession.

Medical Professional

Engineering / IT Professional

Nurses & Midwives

Teacher

Tax & Finance Professional

Judicial & Legal Professional

Essential Worker

Other Professional

What is the estimated value of the property?

Get Results

You can save $0.00 on LMI fees when you borrow up to % of property value. We have 0 lenders on our panel who could help you.

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Disclaimer: The result assumes all other eligibility and financial criteria are satisfied. The information provided is not a quote or pre-qualification for a home loan. Please seek financial advice before buying a home.

Tips and Suggestions

You can borrow up to 100% of the property price with some lenders. Typically, borrowing up to 95% without LMI is possible.

Lenders generally need evidence of your profession and registration.

You're also eligible for a substantial rate discount.

Lenders might have stricter rules for properties located in high-risk areas.

Subject to limits on loan amounts.

90% LVR With No LMI

One of our lenders is now offering up to 90% LVR with no Lenders Mortgage Insurance (LMI) or risk fee, effective from 30 October 2025.

This update provides greater flexibility and accessibility for both owner-occupiers and investors.

Key Highlights

• Borrowers can access up to 90% LVR with no LMI or risk fee charged.
• Available for both Owner Occupied and Investor loans.
• Loan terms are available for up to 30 years.
• For applications where the LVR exceeds 85%, the maximum loan amount is $2 million per application.
• There are no restrictions on profession or first home buyer eligibility.
• No genuine savings are required.
• All loans must be on Principal & Interest repayments.
• Cross-collateralisation is not permitted, meaning the loan must be for a single property purchase.
• The Debt-to-Income (DTI) ratio generally applies up to 6, but can be considered above 8 with exception.

Talk to our mortgage brokers today to find out if you qualify for this 90% LVR offer.

Call us on 1300 889 743 or enquire online to get started.

Which Essential Workers Are Eligible For Waived LMI?

Lenders have offered to waive LMI on loans for up to 95% of the property value for the following essential workers:

• Firefighter
• Police
• Registered nurse
• Paramedic
• Primary or secondary school teacher

There might be more essential workers who could be eligible for waived LMI. You can talk to our mortgage experts to see if you qualify.

How Much Do You Save With Waived LMI?

Property Value	Loan Amount	LVR	LMI Premium Saved*
$700,000	$630,000	90%	$15,674
$800,000	$720,000	90%	$17,913
$900,000	$810,000	90%	$20,152
$1 million	$900,000	90%	$22,392
$700,000	$665,000	95%	$28,938
$800,000	$760,000	95%	$33,072
$900,000	$855,000	95%	$37,206
$1 million	$950,000	95%	$41,340

*Calculations made using our LMI calculator, where property will be used as primary residence and the property is located in NSW.

What Are The Benefits Of Waived LMI?

• You save thousands upfront, as you don’t have to pay any LMI.
• You can buy your property sooner with a smaller deposit.
• It improves your borrowing power, as the cost of LMI is not factored into your loan.
• You can get a competitive interest rate reserved for your profession.

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Is 100% Of Overtime Income Accepted?

Yes. Many essential workers in Australia can have 100% of their overtime, penalties, shift loadings and allowances included in their borrowing capacity. This applies to nurses, paramedics, police officers, teachers, aviation crew, hospital staff, and many other essential roles.

Most lenders only use 50–80% of overtime for regular applicants. Essential workers are treated differently because of job stability, predictable overtime patterns and industry demand.

Many lenders accept 100% of essential workers’ overtime income, due to the consistent nature of their jobs. However, some lenders shade it and have requirements; for example, they may insist that overtime be an expected component of their job.

Lenders usually require a borrower to have been employed in their current job for at least three months. Common minimum time requirements are six months or a year.

Lenders will look at the period of employment, employment contract, last two or three months’ payslips, PAYG payment summary and tax returns when reviewing a potential borrower’s application.

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What Other Benefits Do I Get?

Each lender has packaged its essential worker or essential services product differently. Below are some benefits that a qualified essential worker can enjoy:

• Discounted rates: There are special low rates for essential workers. Some packages have additional discounts for essential workers
• Waived fees: Some lenders waive fees for essential workers who are first-home buyers. Some examples are:
  • Annual fees
  • Establishment, valuation and top-up fees
  • Personal loan application fees
• 100% offset account.
• Redraw facility.
• Early repayments without penalty charges.
• Flexible repayment cycle: monthly, fortnightly or weekly repayments.

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What Do You Need To Qualify?

Every lender is different, but in general, you’ll need:

• Good credit history (no defaults or arrears)
• Stable employment (permanent or long-term contract)
• 5–10% genuine savings
• Payslips showing your overtime and allowances
• A property that meets lender requirements (Apartments in some postcodes may need extra checks.)

If you’re unsure whether you meet these, we’ll check for you.

What Are The Documents Required?

• Short application form from your broker
• Identification documents: driver’s licence, passport, medicare card
• Confirmation of employment with the employer
• Pay slips: Year-to-date pay slips covering three months or more will be required to show consistency for overtime and allowance concessions
• Bank account records/statements
• Accountant’s report
• Credit reports
• Property valuation reports

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Save Thousands On Your Home Loan Today!

As an essential worker, you deserve the best. Let us find you your perfect home loan with a smooth, stress-free process. We’re here to help. Talk to an expert