Police, firefighters, paramedics, SES. Lenders count shift allowances, overtime, penalty rates. Public sector employment = premium lending terms.
Essential workers with government employment. Lenders love the stability and job security.
State/federal government employers. Police: NSW Police, Victoria Police, etc. Fire: FRNSW, CFA. Ambulance: NSW Ambulance. Ultimate job security.
Base $70K-$120K + shift allowances (15-30%) + overtime (time-and-a-half/double-time) + penalty rates. Total package $90K-$150K+.
After probation (6-12 months), permanent tenure. Extremely difficult to lose job. Consistent income for 30+ year career.
Publicly published salary scales. Constable → Senior Constable → Sergeant. Predictable salary progression. Lenders can forecast future income.
Essential services always needed. Economic downturns = police/fire/ambulance still employed. Zero layoff risk during recessions.
Emergency services workers have very low mortgage default rate. Lenders recognize this, offering better rates and terms.
How lenders count base, shifts, overtime, and allowances.
Your base salary per award. All lenders count 100%.
Senior Constable (5 years): $95,630 base
Sergeant: $120,480 base
Inspector: $155,750 base
Afternoon/night shift allowances (15-30%), weekend penalties (50-100%). If rostered regularly, lenders count 80-100%.
Borrowing capacity: $590K-$705K
Overtime (time-and-a-half, double-time) variable. Lenders count 50-80% if consistent 12+ months.
Base + shift allowances: $105,000
Overtime past 12 months: $18,000
Lender counts (70%): $12,600
Total income: $117,600 → Borrow $590K-$705K
Higher duties, qualifications (e.g., detective, bomb squad, tactical), remote/rural allowances. Permanent allowances counted 100%.
Income: $80K-$160K (depending on rank + allowances)
Lending: Excellent. Government employment, stable income, strong job security. Can borrow 5-6× total income.
Best lenders: Police Bank, Police Credit Union, Big 4 banks (all understand police income well)
Challenges: Shift work can make settlement attendance difficult (use power of attorney)
Income: $85K-$130K (base + shift + overtime)
Lending: Very strong. Permanent firefighters (FRNSW, MFB, etc.) are highly favored. Heavy overtime often available.
Best lenders: Firefighters Mutual Bank, Police Bank, Big 4
Tip: Provide 12 months payslips to show average overtime. Don't just use current pay period.
Income: $75K-$115K (qualified paramedics), $90K-$135K (intensive care paramedics)
Lending: Excellent. State ambulance services (NSW Ambulance, Ambulance Victoria) are government employers. Lenders love this.
HECS debt: Many paramedics have $40K-$60K HECS from degree. Use HECS-friendly lenders (Teachers Mutual, Police Bank)
Career progression: Paramedic → Intensive Care → Team Manager. Income grows $75K → $135K+ over 10 years.
Lending: If volunteer SES/RFS is your only income source, cannot get home loan. If you have full-time job + volunteer emergency service, your full-time job income is assessed normally.
Paid SES/RFS roles: Some paid coordinator/manager roles exist ($60K-$90K). These assessed like any government job.
Industry-specific lenders exclusively for emergency services, defence, government employees.
✓ Understand shift work: Count 100% of regular shift allowances + overtime
✓ Competitive rates: 5.89%-6.29% variable
✓ Member benefits: No monthly fees, free extras, discounts on insurance
✓ Probationary officers: Accept applications after 3-6 months employment
Traditional banks with lowest rates. Good for emergency services with minimal debt.
Typical: 5-6× total income (base + allowances + overtime). Examples: Constable with $95K total = $475K-$570K. Senior Constable with $117K total = $585K-$705K. Sergeant with $140K total = $700K-$840K. Assumes no major debts. HECS debt reduces capacity by $70K-$120K depending on balance.
Yes, but wait 3-6 months into probation. Why: Lenders want to see you're likely to pass probation and become permanent. Best lenders: Police Bank, Police Credit Union accept probationary with just 3 months employment. Big 4 banks prefer 6 months or confirmation of permanency. Tip: If buying during probation, get letter from employer confirming probation progress and expected completion date. This helps lenders assess risk.
Not always. Specialist lenders (Police Bank, Firefighters Mutual): Count 80-100% if overtime consistent 12 months. Big 4 banks: Count 50-70% of overtime. Strategy: Provide 12 months payslips showing consistent overtime. If overtime sporadic (some months $5K, other months $0), lenders will discount heavily. If overtime regular ($1.5K-$2K every month), lenders count higher percentage. Best approach: Calculate your lowest 3-month average overtime, use this as conservative estimate when applying.
Employment: 2-3 recent payslips, employment contract, letter from employer confirming total annual income including allowances. ID: Driver's license, Medicare. Income proof: 12 months payslips if claiming overtime/shift allowances, last tax return + NOA. Debts: Credit cards, car loans, HECS balance (ATO portal). Savings: 3-6 months bank statements showing deposit saved. Property: Contract of sale, building/pest reports.
Police Bank if: (1) You have significant overtime/shift allowances (they count more), (2) You're on probation or recently started (more flexible), (3) You value member benefits/service tailored to police. Big 4 bank if: (1) You want lowest possible rate (5.79% vs 5.99%), (2) You have minimal overtime/allowances (no advantage to specialist lender), (3) You want national branch network. Best strategy: Get pre-approvals from both. Compare total costs over loan term. Often Police Bank's higher overtime assessment outweighs slightly higher rate.
Solutions: (1) Power of Attorney: Give solicitor or family member authority to sign on your behalf. Most common solution. (2) Request day off: Book RDO or swap shift for settlement day. (3) After-hours settlement: Some solicitors accommodate 4pm-5pm settlements or even mobile settlement (come to station). (4) Electronic settlement: Some states/lenders allow fully electronic settlement (no physical attendance). Ask your broker which lenders offer this. Best approach: Arrange Power of Attorney early. Costs ~$200, lawyer prepares document, you don't need to attend settlement.
We specialize in emergency services home loans. We count all your shift allowances, overtime, and penalties. Find you the best lender for your service type.
✓ Police • Fire • Ambulance • SES • Probationary officers welcome