Teaching is essential work. A handful of lenders build their lending around that.
There's no big-four "medico" waiver for teachers — but there's something just as useful. Through essential-worker and education-sector programs at select lenders, eligible teachers can borrow up to around 90% of the property value with the Lenders Mortgage Insurance waived. And if you're casual, on relief (CRT) or a fixed-term contract, the bigger question is how a lender reads that income. Which program fits, and which lender counts your income best, is exactly what a broker sorts out.
Permanent, contract or casual — it's read very differently.
Your job title starts the conversation; your income structure decides the loan. Permanent ongoing teaching is assessed like any salary. Fixed-term contracts and casual or relief (CRT) work are where lenders vary most — and where school-holiday gaps and history come into play. The chart shows how readily lenders typically count each, indicatively.
The most straightforward case. Once you're past probation, your salary scale is treated like any PAYG income and counted in full by most lenders — grad teachers on a signed permanent contract included at many.
Common in schools and usually workable. Lenders look at how long the contract runs, your renewal track record and continuity between contracts — some are far more comfortable with it than others.
The real pain point. Because relief work is variable and stops over school holidays, lenders want a consistent history, often average it, and can apply a discount — so the choice of lender matters most here.
Eligible teachers can skip LMI up to ~90% at select lenders
Through education-sector and essential-worker programs, some lenders waive Lenders Mortgage Insurance up to around 90% LVR for teachers — an indicative saving commonly in the tens of thousands on a higher-LVR purchase. Eligibility, the LVR ceiling and loan caps vary by lender and can change, so we confirm what applies to you.
Bar heights are indicative and illustrate how readily lenders typically count each income type — they are not a percentage of income, a borrowing figure, or a promise. Actual treatment of contract and casual/relief income, minimum history, any discount applied and the handling of school-holiday breaks vary by lender and by your circumstances. Not an offer of credit.
Not the big-four medico list — a different, teacher-friendly set of lenders.
Teachers reach a no-LMI outcome through essential-worker and education-sector programs rather than the accounting/legal/medical "professional" waiver. A few lenders stand out, and most are reached through a broker.
Built for educators
Mutual lenders that focus on the education sector (for example Bank First) design their lending around teachers — understanding salary scales, grad-teacher starts and relief work — with no-LMI options for eligible members up to around 90% LVR. Terms and membership rules vary; we confirm current details.
Granite Home Loans
Granite (broker-access only) treats teachers as essential workers and publishes a no-LMI waiver up to 90% LVR, on loans reported up to $2.5m, for primary and secondary teachers. Because it's broker-only, it's a genuine reason to work with a broker. Verify current terms before relying on them.
And the wider panel
Beyond the specialists, some lenders count teacher income more generously or take a signed permanent contract before your first payslip. Under our Best Interests Duty we match you to the lender whose current teacher policy and income rules actually fit — not just the one we know best.
Casual, relief and school holidays — planned around, not tripped over.
History is the currency
For casual and relief (CRT) work, lenders lean on a consistent track record — typically wanting to see steady days over a sustained period, then averaging it. Two solid years of payslips and a tax return do more than any single strong term.
School-holiday gaps
Relief teachers earn nothing across the roughly 12 weeks of school holidays. Lenders that understand education annualise your income realistically rather than penalising the breaks — choosing one that does is half the battle.
A contract changes everything
Moving from casual to even a fixed-term contract (a maternity-leave cover, a term or a year) often shifts how much of your income counts. If a purchase is close, sometimes the smartest move is securing that contract first — we'll tell you if it's worth it.
A large, stable, essential workforce.
Teaching is one of the biggest and most secure occupations in the country, which is exactly why several lenders run programs to win teachers' business.
Sources: ACARA National Report on Schooling (school teaching-staff FTE, 2025) and AITSL Australian Teacher Workforce Data (registered-teacher estimate, 2024–2025); indicative secondary-teacher full-time earnings via Jobs and Skills Australia / state salary schedules (indicative only, varies by state and experience). Figures are context, not an offer of credit.
What LMI actually is — and why a waiver helps
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 an essential-worker or education-sector waiver isn't a discount on something you wanted — it removes a cost you'd otherwise carry, and pay interest on, for years. That's why routing eligible teachers to the right program matters.
LMI general information via ASIC MoneySmart. Whether a waiver applies depends on the lender, your role and your circumstances.
The programs sit behind a broker — on purpose
Many of the teacher-friendly options — Granite's essential-worker waiver, education-sector mutuals, and lenders that read casual and contract income well — are broker-access or membership-based, and none of them advertise the same terms.
We're bound by a Best Interests Duty, so our job is to find the lender whose current teacher policy and income rules genuinely fit your situation, and confirm what it saves you before you commit.
Best Interests Duty: ASIC RG 273 (in force since 1 January 2021). Program eligibility, LVR ceilings and loan caps vary by lender and change without notice.
Teacher home loans, answered straight.
Can teachers get a home loan with no LMI?
Eligible teachers can often borrow up to around 90% LVR with the Lenders Mortgage Insurance waived, through essential-worker or education-sector programs at select lenders — Granite Home Loans and education-focused mutuals such as Bank First are notable examples. It isn't the big-four medico waiver, the eligibility and LVR ceilings vary by lender, and terms can change, so we confirm what currently applies to you.
How is casual or relief (CRT) teaching income assessed?
Lenders treat casual and relief work more cautiously than a salary because it's variable and stops over school holidays. Most want a consistent history — typically a sustained track record of regular days — then average it, and some apply a discount. A choice of lender who understands education income, plus two years of payslips and a tax return, makes the biggest difference.
Does a fixed-term contract stop me getting a loan?
Usually not. Fixed-term teaching contracts are common and workable — lenders look at the contract length, your renewal history and continuity between contracts. Some lenders are far more comfortable with fixed-term work than others, which is where matching you to the right one counts.
What about the school-holiday gaps in my income?
For permanent teachers, holidays are paid, so it's a non-issue. For casual and relief teachers, lenders that understand the sector annualise your income realistically rather than penalising the roughly 12 weeks of unpaid breaks. We steer you toward lenders that assess it fairly.
Can graduate teachers buy before their first payslip?
Often, yes. A number of lenders will consider a signed permanent teaching contract as evidence of income, sometimes before your first payslip lands. It depends on the lender and whether you're permanent, contract or casual — we'll tell you what's realistic for your start.
Do private, Catholic and TAFE teachers qualify too?
Generally the same principles apply — the key is whether your role and income structure fit a lender's program, not which system you teach in. Private and Catholic school teachers, and TAFE and university educators, are accepted by some lenders; we match your specific situation to the right one.
Teaching, on contract or relief? Let's find your lender.
Tell us your role, how you're employed and rough numbers — we'll confirm which teacher programs waive your LMI and which lenders count your income best. No credit check to start.
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