How much can police officers borrow?

Police officers and other law enforcement professionals are able to qualify for special home loan exceptions, including:

  • Borrow up to 95% of the property value: You’ll need a clear credit history, stable employment, good income, minimal debts and must not be buying an unusual property type or a property in non-metro location.
  • Borrow up to 110% of the property value: By asking your mum and dad to act as a guarantor on your mortgage, you can borrow the property value plus the costs of completing the purchase.
  • Negotiated interest rates: We have special relationships with our panel of lenders that allow us access to special discounts, particularly if you have stable employment in law enforcement.

Call 1300 889 743 or fill in our free assessment form to discover if you qualify for a police home loan.

How will banks assess my overtime income?

Police officers tend to significant overtime, so much so that it tends to make up a significant portion of your regular income.

What many police officers don’t realise is that most banks will shave your O/T to 80%.

This can heavily reduce your assessable income and, ultimately, your borrowing power.

As essential services workers, police officers are treated favourably by select lenders and some will even accept 100% of your overtime income.

Generally speaking, you’ll need to provide:

  • An employment letter confirming that you have been receiving overtime income regularly for the past 12-24 months.
  • Two of your most recent payslips.
  • Your most recent group certificate.

Will the bank accept police salary packaging?

Most banks will only consider your gross income without taking salary sacrifice tax benefits into account.

Examples of fringe benefits for police officers include novated leasing to purchase a car and clothing allowances.

Some of our lenders will assess this salary packaging as “tax-free” which essentially means they’ll add 100% of this back to your assessable income.

This can greatly improve your borrowing power for a home loan!

Most banks will require you to verify that these salary packaging benefits have been consistent, verified with an employment letter.

Will banks consider income from a second job?

Some banks recognise that most police officers do shift work and have a second job to supplement their income.

Generally speaking:

  • The second job needs to be in the same line of work, so working as a security guard or in private security on the side will typically be acceptable.
  • Your income may be shaded by between 50-80%.
  • Some lenders will accept 100% of your income if you can show that you have a 6-12 month work history with your second employer and have been earning a regular income.
  • Some lenders will consider less than 3 months work history if you’re in a strong financial position with a clear credit history.

What types of police officers can we assist?

We can assist all types of law enforcement officials, including:

  • Police officers
  • Detectives
  • Forensics officers
  • Police dog unit officers
  • Highway patrol officers
  • Marine police officers
  • Aviation police officers
  • Riot squad officers
  • Mounted police officers
  • Transport officers
  • Tactical operations officers

Police home loans are also available to officials from all over Australia, including:

  • NSW Police
  • Victoria Police
  • Queensland Police
  • Tasmania Police
  • South Australia (SA) Police
  • Northern Territory Police
  • Western Australia (WA) Police
  • Australian Federal Police (AFP)
  • Australian Border Force
  • Australian Security Intelligence Organisation (ASIO)

We can also help


Can I borrow up to 85% with no LMI?

Police and law enforcement officials are considered to be a low risk profession by some lenders.

If you’re in a strong financial position, you may even be able to borrow up to 85% of the property value and avoid the cost of Lenders Mortgage Insurance (LMI).

To put that into perspective, mortgage insurance is charged by most lenders when borrowing more than 80% as a way of reducing the bank’s loss in the event that you default on your mortgage.

It protects the lender, not you as the borrower, yet it can cost you around $9,500 when borrowing 85% on a $800,000 property.

With 85% waived LMI, you avoid this cost completely!

How do I qualify?

As a general rule:

  • You must not be borrowing more than 85% LVR.
  • Your maximum loan size must not exceed $1,500,000.
  • Your credit file must be free of black marks.
  • You must have a strong income.
  • You must have stable employment with a good work history (typically 6-12 months in your role).
  • You must be purchasing a property (refinances accepted on a case by case basis).

Try the LMI calculator to discover how much you could save.


Applying with the right lender is key!

Even if you’ve received overtime income for just three months, we may be able to help you find a lender that can consider 100% of this income.

Please call us on 1300 889 743 or complete our free online assessment form to discover if you qualify for a police home loan.