Your job title opens a waiver conversation. Your income structure decides the loan.
Two things move a tech home loan, and they pull in different directions. A short list of lenders will waive Lenders Mortgage Insurance for degree- or certification-qualified IT professionals up to high LVRs. But a large share of senior IT work is day-rate contracting — and how a lender reads that contract income is often what really sets your borrowing power. We handle both.
A narrow panel waives LMI for IT
IT is not a standard big-four professional waiver. But some lenders will waive LMI for degree- or certification-qualified IT professionals — up to 95% LVR at select lenders, with dollar caps that step down as the LVR rises. Eligibility and the role list vary by lender, so it is a lender-by-lender check.
Day-rate contract income, read correctly
PAYG-permanent, fixed-term agency PAYG, or your own ABN/company — each is assessed differently. Some lenders will annualise a current day rate without two years of history; others treat you as self-employed. Matching you to the right one is the real lever.
How lenders read contractor income.
The same tech worker can be assessed three very different ways depending on how they are engaged. The bars show — illustratively — how readily each engagement type is assessed and how much income history a lender typically wants before using it. It is not a rate, a percentage of income, or an approval likelihood; it is a relative picture of how straightforward each path tends to be, and it changes lender by lender.
PAYG — permanent employee
counted in full
comfortable
Simplest case. Recent payslips with year-to-date figures, plus your contract if you have just started. Job-hopping is normal in tech and is not a problem in itself — though probation policies differ between lenders if you have recently moved.
Fixed-term / agency PAYG contractor
some lenders
but generous ones
Workable with the right lender. Paid PAYG through an agency or payroll company, you are often assessed close to an employee. Some lenders will annualise your day rate on evidence of continuity — commonly using fewer than 52 weeks to allow for gaps between contracts.
ABN / own-company day-rate
returns
at a few lenders
Needs structuring. Invoicing through your own ABN or company, you are usually assessed as self-employed — typically two years of returns and financials, though a few lenders accept around six months' ABN history. Renewal history and continuity matter more than any single contract.
Bar heights are illustrative and relative only — they represent how straightforward each engagement type tends to be to assess and the income history a lender typically expects, not a rate, a percentage of income, or a likelihood of approval. Treatment varies materially by lender and changes over time. This is general information, not an offer of credit or a guarantee of any outcome.
Base, day rate, bonus, equity — assessed one part at a time.
Tech packages mix salary, day rates, cash bonuses and share-based pay. How much of each counts depends heavily on which lender does the assessing.
Permanent PAYG salary
The cleanest income to verify. Base salary is generally counted in full from recent payslips.
- Two to three recent payslips with year-to-date figures
- Employment contract if you have recently changed roles
- Some lenders accept a role still in probation; others want probation completed
Day-rate contracting
Assessment turns on how you are engaged, not on the fact you contract.
- Agency PAYG is often assessed close to an employee
- Your own ABN or company is usually assessed as self-employed
- Continuity and renewal history outweigh any single contract
RSUs & share-based pay
Common in tech, and treated cautiously. Some lenders count a shaded portion of vested income; many exclude equity entirely.
- A vesting and sale history over one to two years or more helps
- Listed-company stock is easier to evidence than private-company equity
- Unvested equity generally cannot be used
Cash bonuses
Most lenders "shade" bonuses — counting only a portion — and want a track record of them being paid.
- Usually a one-to-two-year history of actual payments
- The shading percentage varies between lenders
- Heavy bonus earners can see materially different borrowing power by lender
An LMI waiver for IT is real, but the panel is narrow.
Lenders Mortgage Insurance protects the lender, not you, and it is usually a one-off cost when you borrow more than 80% of a property's value — so a waiver is a genuine saving. On a higher-LVR metro purchase the premium a waiver can avoid is commonly in the order of $15,000–$40,000+, rising as the LVR climbs.
IT does not sit on the classic big-four medico/finance/legal waiver list. But a narrow panel — degree-qualified or IT-certified roles such as software developers, cloud, network and systems engineers, cybersecurity, data and architects — can reach a waiver up to 95% LVR at select lenders, with dollar caps that step down as the LVR rises (illustratively up to $1m at 95%, $1.5m at 90%, $2m at 85% at one lender). These programs are often broker-access only, which is a practical reason to have someone check the current lists for you.
If a professional waiver is not open to you, there are still established ways to reduce or avoid LMI — a 20% deposit, family support arrangements, or government schemes such as the Home Guarantee Scheme for eligible buyers. As your broker, we act in your best interests by matching you to the lender whose current policy actually fits your role and income.
Waiver eligibility, LVR ceilings, dollar caps and participating lenders vary by lender and change without notice — the figures above are one lender's published position used illustratively, not a guarantee or an offer. Never assume waiver eligibility from a web page.
A large, fast-growing, well-documented profession.
Lenders like tech income for a reason: strong demand, clear documentation and steep growth in the core occupations.
Source: ABS, 2021 Census data shows Australia going high tech, and Employment in the 2021 Census. Figures are from the 2021 Census and are indicative of the profession's scale, not current-year counts.
Documents you'll typically need.
Mostly it comes down to whether you are a salaried employee or contracting.
Salaried employee
- Identification — passport or driver licence
- Payslips — usually the two or three most recent, with year-to-date figures
- Employment contract — if you have recently changed roles
- Bonus/equity evidence — vesting statements or payment history if you want that income considered
- Bank statements — deposit, savings pattern and everyday conduct
- Existing debts — statements for loans, credit cards and your HECS/HELP balance
Day-rate / ABN contractor
- Identification — passport or driver licence
- Current contract or SOW — plus prior contracts or renewals showing continuity
- Payslips or invoices — agency payslips if PAYG; invoices and payment records if on your own ABN
- Tax returns — usually two years if operating through an ABN or company, with financials
- Bank statements — personal and, where relevant, business accounts
- Existing debts — statements for any personal or business borrowings
Your package might be complicated. Your application doesn't have to be.
Policy matching
We match your engagement — permanent, agency contractor, ABN contractor or startup employee — to lenders whose policy treats it most favourably.
Package presentation
We assemble the vesting statements, contract history and payment evidence that let a lender count the maximum policy-allowed share of your bonus and equity income.
LMI options check
We check professional waiver lists, income-based programs and government-scheme eligibility, and show you the realistic paths to reducing or avoiding LMI.
Borrowing-power modelling
We model your capacity across multiple lenders before applying — for mixed and contract-based packages the differences can be large.
One application, done properly
Multiple credit enquiries can hurt your file. We aim to place your application once, with the right lender.
Ongoing review
New role, new contract, new vesting schedule — we review your loan against the market as your income evolves.
Tech home loans, answered straight.
Do IT professionals qualify for an LMI waiver?
Less often than some professions. The classic big-four waiver lists focus on occupations like medicine, law and accounting; IT appears less often. That said, a narrow panel of lenders will waive LMI for degree- or certification-qualified IT professionals — up to 95% LVR at select lenders, with dollar caps that step down as the LVR rises. Lists differ between lenders and change over time, so treat it as a lender-by-lender check, not an entitlement — and note that a 20% deposit or eligible government schemes are alternative ways to avoid LMI.
I'm a day-rate contractor — can I still get a home loan?
Yes. The key question is how you are engaged. If an agency pays you PAYG, many lenders assess you close to a salaried employee, and some will annualise your day rate given evidence of continuity — often using fewer than 52 weeks to allow for breaks between contracts. If you invoice through your own ABN or company, you will usually be assessed as self-employed, which typically means one to two years of returns, though a few lenders accept a shorter history. Renewal history and continuity matter more than any single contract.
Do RSUs and shares count as income?
Sometimes, partially. Some lenders count a shaded portion of vested RSU income where you can show a multi-year vesting and payment history, and it is generally easier with listed companies than private ones. Many lenders exclude equity income entirely, and unvested equity generally cannot be used. If RSUs are a big part of your package, lender selection makes a real difference to your assessed income.
How is bonus income treated?
Most lenders shade cash bonuses — counting only a portion — and want a history of them actually being paid, often over one to two years. The shading percentage and the required history vary between lenders, so heavy bonus earners can see meaningfully different borrowing power depending on where the application goes.
I work at a startup — does that hurt my application?
Your base salary is assessable like any salary, and plenty of startup employees get home loans. Some lenders do look harder at employment stability with early-stage employers — completed probation, a consistent industry track record and healthy savings buffers all strengthen the file. Options or future equity promises generally cannot be counted as income.
Why use a finance broker instead of going straight to a bank?
Because tech income is exactly where lender policies diverge — day rates, RSUs, bonuses, probation and startup employers are all treated differently from one lender to the next, and some of the profession-waiver programs are broker-access only. A finance broker compares policies across a panel of lenders, works out where your package is assessed most favourably, and presents the evidence properly the first time. Esteb & Co provides credit assistance; where the lender pays commission on settlement, the service is generally at no cost to you.
Tell us how your package is built. We'll find where it's read best.
Permanent, agency contractor, ABN day-rate or startup employee — send us the shape of your income and what you're aiming for. We'll compare policies across 50 lenders and show you what's realistic. No credit check to start.
Check my options →