Nurses reach no-LMI a different way — and it's often the better one.
Here's the honest bit most pages skip: the big-bank "professional" LMI waiver that doctors, lawyers and accountants use does not include nurses — ANZ's own fact sheet even lists nurses and midwives as ineligible for it. But that's not the door you want anyway. Nurses reach no-LMI lending through healthcare and essential-worker programs — up to around 90% of the property value with the insurance waived — and through lenders that count your shift penalties and overtime in full. Knowing which lender does both is the whole job.
The essential-worker & healthcare programs that waive your LMI.
These aren't the big-bank professional waiver — they're separate programs built for registered nurses and midwives, typically lending up to around 90% of the property value with the Lenders Mortgage Insurance waived entirely. Each is one lender's published position, used illustratively; eligibility and caps change, so we confirm what applies to you.
Bars show the indicative maximum LVR (no LMI) under each program — up to around 90% for eligible registered nurses and midwives; the exact ceiling, minimum income and loan caps vary by lender and can change without notice. Programs shown are illustrative examples of the kind we can access across our 50-lender panel, not an exhaustive list and not an offer of credit. Several of these (mutuals, Granite) are membership- or broker-access only — a genuine reason a broker helps.
The big-bank "professional" waiver doesn't cover nurses. That's fine.
You'll see plenty of pages imply nurses can tap the same LMI waiver as doctors. They can't — ANZ's published LMI Waiver Fact Sheet explicitly lists nurses and midwives as ineligible under its medical-professional waiver, and NAB's professional program is likewise built around medico, finance and legal professionals, not nursing.
So the right move isn't to squeeze a nurse into a program that excludes them — it's to route you to the healthcare and essential-worker programs above, which are designed for you and reach a comparable no-LMI outcome (up to around 90% LVR). Getting that door right the first time is the difference between an approval and a decline.
Source: ANZ LMI Waiver Fact Sheet (dated Jan 2022 — confirm current policy) lists nurses/midwives as ineligible medical professionals; NAB LMI-waiver program covers medical, finance and legal professionals. We're bound by the Best Interests Duty (ASIC RG 273, since 1 Jan 2021) to match you to the lender whose policy genuinely fits.
The second lever: a lender that counts your shifts in full.
Base pay is only part of a nurse's package — penalty rates, night and weekend allowances and overtime can add up materially. Conservative lenders discount that variable income; shift-aware lenders count much or all of it. Same payslips, very different borrowing power. This illustrative example uses a $105,000 total package.
discounts the variable pay
counts penalties & overtime in full
Illustrative example only, using round figures to show the mechanism — not a quote, a salary claim or a guarantee. How much of your allowances and overtime a lender counts (anywhere from around half to 100%) varies by lender and usually needs a consistent history on your payslips; Westpac's nurse/midwife program, for instance, assesses 100% of overtime and allowances. Your actual capacity depends on your circumstances.
What counts, and what to have ready.
Base salary
Your award or EBA base — contracted hours at your grade. Every lender counts 100% of it; it's the stable core of your assessment and the easiest part to evidence.
Shift & penalty allowances
Afternoon, night and weekend penalties and regular allowances. Shift-aware lenders count much or all of them where they're consistent on your payslips — which is exactly where lender choice pays off.
Overtime
Overtime is variable, so lenders treat it more cautiously — some count a portion, some the lot. A steady 6–12 month history helps, and the right lender counts more of it.
Casual & agency nursing
Higher hourly rates but no leave entitlements — lenders usually want a longer, consistent income history (often 12 months+). A permanent line, even part-time, tends to make approval smoother; we plan around it.
Nursing is one of the largest, most stable workforces in the country.
Essential, in demand and low-default — that's why healthcare and essential-worker programs exist and why lenders compete for nurses.
Sources: ABS Employment in the 2021 Census (Registered Nurses, 262,742). LMI premium ranges are indicative estimates only (money.com.au) and vary with loan size, LVR, the insurer and your circumstances. Program LVR ceilings follow individual lenders' published positions (2026) used illustratively; eligibility varies by lender and can change.
What LMI actually is — and why waiving it matters
Lenders Mortgage Insurance is a one-off premium that protects the lender if a borrower defaults — it does nothing for you, yet you pay it (usually added to the loan) whenever you borrow above 80% LVR without a waiver.
So reaching no-LMI through a nurse program isn't a discount on something you wanted — it removes a cost you'd otherwise carry, and pay interest on, for years, or lets a smaller deposit go further.
LMI general information via ASIC MoneySmart. Whether a waiver applies depends on the lender, your role and your circumstances.
Two levers, pulled together
For nurses the win is rarely one thing — it's stacking a no-LMI essential-worker program with a lender that counts your shift and overtime income generously. The best lender for the waiver isn't always the best for your income structure.
Under the Best Interests Duty we compare across our panel to find the lender that gets you both — not just the one door we know best.
Best Interests Duty: ASIC RG 273 (since 1 January 2021). Program and income-assessment policies vary by lender and can change.
Nurse home loans, answered straight.
Can nurses get an LMI waiver like doctors do?
Not through the same door. The big-bank "professional" waiver used by doctors, lawyers and accountants generally excludes nurses — ANZ's own fact sheet lists nurses and midwives as ineligible for it. Instead, nurses reach a comparable no-LMI outcome (up to around 90% LVR) through separate healthcare and essential-worker programs at lenders like Westpac, People First Bank and select mutuals. We match you to the one you actually qualify for.
Do lenders count my shift allowances and overtime?
Many do — and how much they count is where lender choice really matters. Some lenders count up to 100% of your penalty rates, shift allowances and overtime where they're consistent on your payslips; more conservative lenders discount the variable portion. Westpac's nurse/midwife program, for example, assesses 100% of overtime and allowances. We steer you to a lender that reads your roster generously.
What deposit do I need as a nurse?
Under an eligible nurse/essential-worker program you can often borrow up to around 90% of the property value with the LMI waived — roughly a 10% deposit — subject to the lender's income and eligibility rules. The exact ceiling varies by lender, so we confirm the best fit for your situation. It's not a guarantee of approval or a particular LVR.
Does my HECS/HELP debt stop me borrowing?
No. HECS is a repayment obligation that trims borrowing capacity a little, but lenders expect it and it won't rule you out. Some lenders treat it more favourably than others, which we factor in when choosing where to place you.
I'm a casual or agency nurse — can I still qualify?
Usually yes, though it's more involved. Casual and agency income generally needs a longer, consistent history (often 12 months or more), and some lenders are far more comfortable with it than others. If you also hold a permanent line, even part-time, that typically helps. We plan the application around your actual pattern.
Are midwives treated the same as registered nurses?
Broadly, yes — the same healthcare and essential-worker programs generally cover registered nurses and midwives, with AHPRA registration as evidence. Because midwives often carry higher penalty-rate income, matching to a lender that counts allowances in full can make a real difference to capacity.
Let's find your no-LMI door — and a lender that counts your shifts.
Tell us your role, roster and rough numbers. We'll confirm which nurse or essential-worker programs you qualify for and which lender reads your income most generously. No credit check to start.
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