Registered nurses, student nurses, midwives, aged care nurses. We count shift allowances, overtime, penalty rates. Lenders who understand healthcare employment.
Lenders love nurses. Stable employment, essential workers, strong job security.
Nursing is essential. High demand, low unemployment. Lenders see this as low-risk employment with strong job continuity.
Base salary $70K-$110K + shift allowances + overtime. Total package $85K-$130K. Strong borrowing capacity.
Regular shifts, predictable rosters. Award rates, EBA agreements. Lenders can verify income easily via payslips.
Public hospital nurses (NSW Health, Queensland Health) have government-backed employment. Extremely low default risk.
Clear career path: Grad → RN → CN → NUM. Salary increases predictable. 10-year salary growth: $65K → $100K+.
Can work anywhere in Australia. Moving cities? Your skills transfer. Lenders don't worry about relocation risk.
Shift work, allowances, overtime - what counts and how much.
Your base hourly rate × contracted hours. This is your guaranteed income. All lenders count 100% of base salary.
Registered Nurse Year 5: $42/hour × 76 hours per fortnight = $3,192/fortnight = $82,992/year base
Afternoon shift (15%), night shift (30%), weekend penalties (50-75%). If you work regular shifts, lenders count 80-100% of these allowances.
Key: Need 12 months of consistent shift allowances shown on payslips. If you've only just started shift work, lenders may discount these or count 80% instead of 100%.
Overtime is variable. Lenders typically count 50-80% if it's been consistent for 12+ months. Some lenders more generous than others.
If you salary sacrifice for car ($15K/year), lenders add this back. They assess your pre-sacrifice income, not take-home.
Gross salary: $95,000
Salary sacrifice car: -$15,000
Net taxable income: $80,000
Lender assesses: $95,000 (gross) BUT may deduct lease payment as expense
How lenders treat different nursing roles and employment types.
Income: $75K-$100K base + allowances = $90K-$120K total
Lending: Excellent. Stable employment, good income, strong job security. Can borrow 5-6× income typically.
Borrowing Example: $100K total income = $500K-$600K borrowing capacity (depending on other debts)
Income: Grad nurses: $65K-$75K, Student nurses: $50K-$60K (part-time/casual)
Lending: Graduate nurses treated well once graduated and employed (need 3-6 months payslips). Student nurses can qualify if income is consistent 12+ months or use guarantor.
Tip: If graduating soon, wait until you have grad RN contract and 3 months payslips. Much easier approval and higher borrowing capacity.
Income: $80K-$105K base + shift allowances = $95K-$125K total
Lending: Excellent. Often earn more than general RNs due to higher shift penalties (birthing suite nights/weekends). Lenders view midwives same as RNs - very favorable.
Borrowing Example: $110K total income = $550K-$660K borrowing capacity
Income: $70K-$95K (private aged care may pay less than public hospitals)
Lending: Good, but lenders slightly prefer public hospital nurses. If working for large aged care provider (Bupa, Regis, Estia), treated same as hospital RNs.
Note: Smaller aged care facilities may require more documentation to prove employment stability.
Income: $105K-$135K base + allowances = $120K-$155K total
Lending: Excellent. Higher income, highly qualified, strong career trajectory. Can borrow $600K-$900K+.
Best for: Upgrading, investment property purchases, larger loan amounts.
Income: Often higher hourly rate ($45-$60/hour) but no leave entitlements
Lending: More difficult. Need 12-24 months consistent income history. Lenders may count only 80% of income or require larger deposit (15-20% instead of 5-10%).
Tip: If you can, secure a permanent contract before applying for home loan. Makes approval much easier.
These lenders specifically target healthcare workers and understand nursing income structures.
Count 100% of shift allowances and overtime (if 12+ months history)
Favorable HECS debt treatment (only count minimum repayment, not 20% haircut)
Competitive rates: 5.99%-6.49% variable
May waive LMI for healthcare professionals (case by case)
Conservative but reliable. Good for public hospital nurses with stable employment.
Best for casual nurses, agency nurses, or those with HECS debt.
More flexible on casual/agency nursing income (accept 6 months vs 12+ for banks)
May count 100% of overtime vs 50-80% at banks
Higher rates: 6.29%-6.99%
Can refinance to Big 4 after 12-24 months for better rate
Most nurses have HECS debt ($30K-$80K). Banks reduce borrowing capacity by ~$50K-$100K because of HECS repayments.
Settlements happen 10am-3pm weekdays. If you're on shift, can't attend in person.
Some fortnights $4,000, other fortnights $3,200 depending on shifts rostered. Lenders see this variability and get nervous.
Worried about mortgage repayments on maternity leave (18 weeks paid, then unpaid). Can you still afford the loan?
Typical borrowing: 5-6× your total income (base + allowances + overtime). Examples: $90K income = $450K-$540K borrowing. $110K income = $550K-$660K. $130K income = $650K-$780K. This assumes no major debts (car loans, credit cards). HECS debt reduces capacity by ~$50K-$100K depending on balance.
No. Permanent nurses: Can apply after probation (3-6 months). Some lenders approve with just contract + 1-2 payslips if you've passed probation. Grad nurses: Wait until you have permanent contract + 3 months payslips for easiest approval. Casual/agency: Need 12 months consistent income history shown via payslips/tax return. Exception: If you were previously permanent and switched to casual, some lenders accept 6 months.
Difficult but possible. Option 1: If you have 12+ months consistent part-time/casual nursing income ($50K+), some lenders will approve. Borrowing limited to ~3-4× income = $150K-$200K max. Option 2: Use parent as guarantor to boost borrowing capacity to $350K-$450K. Best approach: Wait until you graduate and secure grad RN position. Your borrowing capacity will jump from $150K to $400K+ overnight. Unless you find incredible deal or family help, waiting 6-12 months is usually smartest.
Employment: 2-3 recent payslips, employment contract, letter from employer (if shift work shows annual income estimate). ID: Driver's license, Medicare card. Income proof: Last 2 years tax returns + NOAs (if claiming overtime/allowances), bank statements (90 days). Debts: Credit card statements, car loan details, HECS balance (from ATO portal). Deposit: 3 months statements for savings account showing deposit source. Property: Contract of sale, building/pest inspection.
Depends. Pay HECS if: (1) You have $30K-$60K in savings but need higher borrowing capacity. Paying HECS increases capacity by $80K-$150K. (2) HECS balance is small ($20K-$40K) and you're close to paying it off anyway. Keep HECS if: (1) You need all savings for house deposit. Don't drain deposit to pay HECS. (2) Using HECS-friendly lender that doesn't penalize HECS heavily. (3) HECS balance is huge ($80K+) - paying won't make enough difference. Best strategy: Get pre-approval first. See exactly how much HECS is reducing your capacity. Then decide if paying is worth it.
Yes, but harder. Requirements: 12-24 months consistent agency income via same agency/agencies. Payslips + tax return showing total income. May need 15-20% deposit (vs 5-10% for permanent nurses). Lenders count 80% of income vs 100% for permanent. Strategy: Use non-bank lender (more flexible) for first purchase. After 12 months, refinance to Big 4 for better rate. Alternative: Try to secure 12-month contract at hospital (still contractor but more stable). Much easier approval than pure casual/agency.
We specialize in nursing income. We know how to maximize your shift allowances, handle HECS debt, and find lenders who understand healthcare employment.
✓ Count all allowances & overtime • ✓ HECS-friendly options • ✓ 5% deposit possible