Primary, secondary, private, public, CRT. Lenders love teachers. Predictable salary scales, job security, government employment. Get pre-approved in 48 hours.
Banks rank teachers among lowest-risk professions. Government-backed employment, transparent salary progression.
Public school teachers employed by state government (NSW Dept of Education, VIC DET, etc.). Ultimate job security. Banks see this as zero default risk.
Public salary scales published online. Lenders know exactly what you'll earn at Year 1, 3, 5, 10. Predictable income progression makes lending easy.
Automatic yearly progression. Graduate: $75K → Year 5: $95K → Year 10: $110K+. Lenders can forecast your income for entire loan term.
After probation (usually 12 months), permanent ongoing employment. Extremely difficult to be terminated. Consistent income for 30+ year career.
Teacher registration valid across states. Moving Sydney → Melbourne? Transfer schools easily. Lenders don't worry about relocation employment risk.
Teacher shortages in STEM, rural areas. If you lose job, can find new one within weeks. Recession-proof essential service.
Salary scales, extra duties, how lenders assess teacher income.
Note: VIC, QLD, SA, WA have similar scales (±5%). Private schools often pay 10-20% more. Catholic schools pay similar to public.
Your annual salary per award/scale. All lenders count 100%. Easy to verify via employment contract or payslips.
Year 3 Teacher: $88,330 salary
Borrowing capacity: $440K-$530K (5-6× income)
Year 8 Teacher: $103,949 salary
Borrowing capacity: $520K-$625K
Year advisor ($3K-$5K), head of department ($8K-$12K), sports coordinator ($2K-$4K). These allowances are permanent and counted 100% by lenders.
Borrowing capacity: $525K-$630K
CRT/casual teaching income is variable. Lenders typically count 80% if you have 12+ months consistent history averaging 3-4 days/week.
CRT rate: $450/day
Average: 4 days/week × 40 weeks = 160 days/year
Gross income: $72,000/year
Lender counts: $57,600 (80%) → Borrow $290K-$345K
Tip: If you're CRT and want to buy soon, try to secure a 12-month temp/contract position. This increases lender count from 80% to 100%, boosting borrowing capacity by $50K-$100K.
Private school salaries often 10-20% higher than public. Some elite schools pay $120K-$150K for experienced teachers.
5 years experience, senior teacher: $115,000
Head of Department: $135,000
Borrowing: $575K-$810K
These lenders exclusively serve education, health, emergency services. They understand teacher employment perfectly.
✓ Competitive rates: 5.89%-6.29% variable
✓ HECS-friendly: Only count actual HECS repayment, not 20% income haircut
✓ Graduate teacher programs: Accept grad teachers with just contract + 1 payslip
✓ Extra features: Offset accounts, free redraw, no monthly fees for teachers
Traditional banks with lowest rates. Great for teachers with no HECS debt or minimal debts.
Faster approvals, more flexible on grad teachers and CRT income.
✓ Fast approval: 3-5 business days vs 7-14 at banks
✓ Grad teacher friendly: Accept with just signed contract (before first payslip)
⚠️ Higher rates: 6.19%-6.69%
💡 Strategy: Use non-bank to get in fast, refinance to Big 4 after 12-24 months for lower rate
$76K starting salary = only $380K-$455K borrowing capacity. Can't afford median house in Sydney/Melbourne.
4-year teaching degree = $35K-$50K HECS. Banks reduce borrowing by $70K-$150K because of HECS repayments.
Banks nervous about CRT income despite teachers being in high demand. They see "casual" and apply strict rules.
12 weeks unpaid holidays per year if CRT. Permanent teachers paid during holidays but need to budget carefully.
Maybe. If you have signed contract: Some lenders (Macquarie, non-banks, Teachers Mutual) will pre-approve based on contract alone, before first payslip. Usually need to have passed probation or be permanent ongoing. If still at uni: No, lenders need employment confirmation. However, you CAN get pre-approval using guarantor while still studying. Best timing: Wait until you have contract + 1-3 payslips for easiest approval and best rates.
Typical: 5-6× your annual salary (if no major debts). Examples: Graduate ($76K) = $380K-$455K. Year 3 ($88K) = $440K-$530K. Year 8 ($104K) = $520K-$625K. Private school ($115K) = $575K-$690K. HECS impact: Reduces capacity by $70K-$150K depending on balance. Couple: Two teachers (Year 3 + Year 5 = $183K combined) = $915K-$1.1M borrowing.
Not better terms, but higher borrowing capacity due to higher income. Rates: Same as public school teachers (5.79%-6.29%). Borrowing: Private schools often pay 10-20% more, so capacity increases proportionally. Job security: Lenders slightly prefer public sector (government-backed) but private school at established school (Sydney Grammar, Scotch College, etc.) viewed equally. Contract vs permanent: Some private schools use fixed-term contracts which can complicate lending. Permanent ongoing preferred.
Yes but harder. Requirements: 12-24 months consistent CRT income (3-5 days/week minimum). Payslips + tax return proving income. Lenders count 80% of average income vs 100% for permanent. Example: Average $70K/year CRT income → Lender counts $56K → Borrow $280K-$335K. Easier path: Secure 6-12 month contract (maternity cover, project, temp) instead of CRT. This counts as regular income, not casual. Best lenders: Non-banks, Teachers Mutual more flexible than Big 4 for CRT.
Employment: 2-3 recent payslips, employment contract (showing salary, permanent/temp/casual), letter from principal (if CRT). ID: Driver's license, Medicare card. Income: Last 2 years tax returns + NOAs (especially if CRT), bank statements 90 days. Debts: Credit card statements, car loan, HECS balance from ATO. Savings: 3-6 months statements showing deposit saved + source (salary, gift, inheritance). Property: Contract of sale, building/pest reports.
Depends. Wait if: (1) Graduate salary too low for your target property. Year 3-5 gives you $60K-$120K more borrowing capacity. (2) Saving deposit while renting is feasible. (3) Property market is inflated/uncertain. Buy now if: (1) You have deposit ready + can afford decent property on current salary. (2) Rents are high (wasting $25K-$35K/year). (3) Property market rising fast (waiting = priced out). (4) Using guarantor to boost capacity. Reality: Most teachers buy Year 2-4 (after probation, before starting family). Waiting too long means rising prices eat your salary gains.
We specialize in teacher home loans. Public, private, CRT - we know your salary scales, understand HECS debt impact, and find the best lenders for educators.
✓ Public & private school teachers • ✓ CRT income counted • ✓ HECS-friendly lenders