Nurses First Home Buyer Guide: Schemes, Grants & LMI Waivers

Nurses as first home buyers have access to a combination of government schemes, lender-specific benefits and grants that can significantly reduce the cost of purchasing a first property. At Nurse Loans, our Finance and Mortgage Brokers specialise in helping nurses and midwives navigate these options, from LMI waivers and the Australian Government 5% Deposit Scheme through to state-based grants and stamp duty concessions. Whether you are a registered nurse, enrolled nurse, or midwife, there are programs designed to support nurses as first home buyers and help you get into your own home sooner and with a smaller deposit.

As a nurse buying your first home, you may be eligible for benefits that are specific to your profession, including LMI waivers at select lenders, as well as broader first home buyer programs that are open to all eligible Australians. Understanding which programs apply to your situation, and how they interact with each other, is where our brokers add real value.

What Makes Buying Your First Home Different as a Nurse or Midwife?

As a nurse or midwife buying your first home, you may have access to a combination of benefits that other first home buyers cannot access. Alongside the government schemes open to all eligible Australians, such as the Australian Government 5% Deposit Scheme and the First Home Owner Grant, eligible nursing professionals may also qualify for profession-specific LMI waivers at select lenders. Understanding how these benefits interact, and which ones apply to your role, income and deposit, is where a specialist broker adds real value. To learn more about how we work with nursing professionals across all loan types, visit our page on home loans for nurses.

At Nurse Loans, our Finance and Mortgage Brokers work exclusively with nurses and midwives across Australia. Whether you are a registered nurse, enrolled nurse, nurse practitioner or midwife, we can help you identify which first home buyer programs you are eligible for and structure your loan to make the most of them.

The three main advantages available to nurses as first home buyers are:

• The Australian Government 5% Deposit Scheme, which allows eligible buyers to purchase with a 5% deposit and no Lenders Mortgage Insurance, with no income cap and no limit on places from 1 October 2025.

• LMI waivers at select lenders, which may allow eligible registered nurses and registered midwives to purchase with a 10% deposit and no Lenders Mortgage Insurance, subject to lender eligibility criteria.

• State and territory First Home Owner Grants and stamp duty concessions, which can reduce the upfront cost of purchasing a new home.

These benefits can sometimes be used together, and your broker can confirm which combination suits your situation.

Home Buying Programs for Nurses as First Home Buyers

The support available to nurses as first home buyers spans federal government schemes, state-based grants, and lender-specific benefits. The pages below cover each one in detail:

• Australian Government 5% Deposit Scheme for Nurses: Buy with a 5% deposit and no LMI through the federal government scheme, with no income caps and no place limits from 1 October 2025.

• Help to Buy Scheme: A shared equity program where the government contributes up to 40% of the purchase price for a new home, reducing both your deposit and your mortgage.

• First Home Owner Grant: A one-off state government payment for eligible buyers of new homes. Current amounts vary by state and territory (see below).

• LMI Waivers for Nurses: Eligible nursing professionals may be able to purchase with a 10% deposit and no Lenders Mortgage Insurance at select lenders, with some lenders requiring a minimum income of $90,000.

Government Schemes for Nurses as First Home Buyers

There are several key home buying programs for nurses worth knowing about before you apply for a loan.

Australian Government 5% Deposit Scheme

The Australian Government 5% Deposit Scheme allows eligible nurses as first home buyers to purchase a property with as little as a 5% deposit, without paying Lenders Mortgage Insurance. The scheme is also open to buyers who have not owned property in Australia in the last 10 years. Under this scheme, Housing Australia backs up to 15% of the value of the home loan for first home buyers, and up to 18% for eligible single parents and single legal guardians, who may be able to purchase with as little as a 2% deposit. Single parents and single legal guardians do not need to be first home buyers, but cannot keep another property interest at settlement. This means you do not need to save the full 20% deposit that lenders typically require to avoid Lenders Mortgage Insurance.

From 1 October 2025, there is no income cap for applicants, no limit on the number of places available, and property price caps have been increased across all locations. The scheme covers new and existing houses, townhouses, apartments, house and land packages, off-the-plan purchases, and vacant land with a building contract, provided the property falls below the price cap for your area. You must be an Australian citizen or permanent resident aged 18 or over and apply through a Participating Lender authorised by Housing Australia. For more information, visit firsthomebuyers.gov.au.

First Home Owner Grant

The First Home Owner Grant is a state and territory government payment available to eligible first home buyers purchasing or building a new home. The grant is not specific to nursing, so any eligible first home buyer may be able to apply, including nurses and midwives. It was introduced in 2000 to offset the effect of the GST on home ownership and is funded and administered by each state and territory under their own legislation.

Grant amounts and eligibility rules vary. Current amounts include:

• New South Wales: $10,000 for new homes valued up to $600,000, or up to $750,000 for house and land packages where the land and build are under separate contracts.

• Victoria: $10,000 for new homes valued up to $750,000.

• Queensland: $15,000 for eligible new homes valued up to $750,000. This applies to contracts signed from 1 July 2026. A boosted $30,000 grant applied to contracts signed between 20 November 2023 and 30 June 2026.

• South Australia: $15,000 for eligible first home owners purchasing or building a new home, with no property value cap for contracts signed on or after 6 June 2024.

• Western Australia: $10,000 for new homes, with a property value cap of $750,000 for homes south of the 26th parallel, including Perth, and $1,000,000 for homes north of the 26th parallel.

• Tasmania: $20,000 for eligible transactions commencing between 1 July 2026 and 30 June 2027, with no property price cap. This amount was legislated by the First Home Owner Grant Amendment Act 2026, which received Royal Assent on 10 July 2026.

• Northern Territory: $10,000 under the HomeGrown Territory Grant for first home buyers building or buying a new home. A boosted $50,000 grant applied to contracts signed before 30 September 2026.

• ACT: The FHOG has been set to $0 since 1 July 2019. Instead, the ACT offers the Home Buyer Concession Scheme, and from 1 July 2026, eligible first home buyers in the ACT pay no stamp duty.

The grant generally applies only to new or substantially renovated properties and must be used for a home you intend to live in as your principal place of residence. Your broker can confirm the amount available in your state and whether your purchase qualifies.

Stamp Duty Concessions

Many states and territories offer stamp duty concessions or exemptions for first home buyers, including nurses as first home buyers purchasing below certain price thresholds. These concessions can save you thousands of dollars at settlement.

In New South Wales, eligible first home buyers receive a full exemption on properties up to $800,000 and a concessional rate up to $1,000,000. In Victoria, eligible first home buyers pay no stamp duty on properties valued at $600,000 or less, with concessions up to $750,000. In Western Australia, for transactions entered into on or after 7 May 2026, first home buyers pay no stamp duty on homes valued up to $600,000, with concessions up to $800,000 statewide. The ACT abolished stamp duty for all eligible first home buyers from 1 July 2026. Each state has its own thresholds and rules, and your broker can walk you through what applies to your situation.

First Home Super Saver Scheme

The First Home Super Saver Scheme (FHSSS) allows eligible buyers to withdraw voluntary super contributions to use as part of their home deposit. The scheme is administered by the Australian Taxation Office and has been available since 1 July 2018. You can contribute a maximum of $15,000 in voluntary contributions in any single financial year, up to a total of $50,000 across all years. Because voluntary concessional contributions are taxed at 15% rather than your marginal income tax rate, your savings can grow faster than in a standard savings account. You also benefit from a 30% tax offset on assessable released amounts when you withdraw.

Once released, you must enter a contract to buy or build within 12 months, or re-contribute the amount back into your super. Your broker or financial adviser can help you plan contributions and withdrawals to align with your purchase timeline. For more information, visit the ATO's FHSSS page.

Australian Government Help to Buy Scheme

The Help to Buy Scheme is a shared equity program administered by Housing Australia, with applications open since 5 December 2025. Under Help to Buy, the Australian Government contributes up to 40% of the purchase price for a new home, or up to 30% for an existing home, in exchange for an equivalent equity share in the property. This may allow eligible buyers to purchase with a deposit as low as 2%, reducing both the deposit and mortgage required. You do not make regular repayments on the government's share, and you may be able to buy back some or all of it over time.

To be eligible, individual applicants must have a taxable income at or below $103,000 per year, or $165,000 for single parents and joint applicants. These thresholds are indexed annually. Applicants must be Australian citizens aged 18 or over, must not currently own property, with limited exceptions, and must live in the home as their principal place of residence. Help to Buy can be used alongside the First Home Owner Grant and stamp duty concessions, but it cannot be combined with the 5% Deposit Scheme or any other government shared equity scheme, loan or guarantee for the same purchase. The scheme is now available in every state and territory. Visit firsthomebuyers.gov.au for more detail.

LMI Waivers for Nurses as First Home Buyers

Eligible nursing professionals may be able to access an LMI waiver at select lenders, including Westpac, BankVic, and People First Bank. Eligibility differs by lender. Westpac covers registered nurses and registered midwives earning $90,000 or more, People First Bank covers registered nurses, and BankVic's waiver may be limited to properties in specified locations. An LMI waiver may allow you to purchase a home with a 10% deposit and avoid paying Lenders Mortgage Insurance, which can otherwise add tens of thousands of dollars to your loan. Our brokers can confirm which lenders currently offer this benefit and whether your role, income and employment type qualify.

Enrolled nurses are generally not eligible for an LMI waiver at most lenders, but they can still access low deposit options through the Australian Government 5% Deposit Scheme. This scheme allows eligible buyers to purchase with a 5% deposit and no LMI, making it a strong alternative for nurses at an earlier stage of their career. Government schemes, grants, and concessions can change over time, including adjustments to eligibility criteria, income thresholds, property price caps, and available grant amounts. Speak with one of our brokers to confirm the latest scheme details and your eligibility before making any decisions.

For more detail on how LMI waivers work for nursing professionals, visit our dedicated page on LMI waivers for nurses.

Nurse First Home Buyer Eligibility: 5% Deposit Scheme, LMI Waivers and Stacking Your Benefits

One of the most common questions nurses ask when buying their first home is which benefits they can use at the same time. The answer depends on the specific programs involved and your individual circumstances. Here is how the main options interact for nurses as first home buyers.

5% Deposit Scheme and First Home Owner Grant

The Australian Government 5% Deposit Scheme can be used alongside the First Home Owner Grant and stamp duty concessions in most states and territories. This means a nurse buying a newly built home may be able to purchase with a 5% deposit, no LMI, and receive a state government grant on top. Your broker can confirm whether your purchase qualifies for both. You can read more about the 5% Deposit Scheme for nurses and the First Home Owner Grant for nurses on the relevant pages of this site.

LMI Waiver and the 5% Deposit Scheme

An LMI waiver and the 5% Deposit Scheme serve a similar purpose: both allow eligible buyers to avoid paying Lenders Mortgage Insurance. Because of this, you would generally use one or the other rather than both. For nurses who meet the income threshold at a lender offering an LMI waiver, the waiver may allow a 10% deposit without LMI. For nurses who do not yet meet that threshold, or who are enrolled nurses, the 5% Deposit Scheme is typically the stronger option. You can also explore our page on low deposit loans for nurses for more options if you are still building your deposit.

First Home Super Saver Scheme and Other Programs

The First Home Super Saver Scheme (FHSSS) allows eligible buyers to withdraw voluntary super contributions to put toward their deposit. It can generally be used alongside the 5% Deposit Scheme, the First Home Owner Grant and stamp duty concessions. Your broker or financial adviser can help you plan how to incorporate FHSSS withdrawals into your deposit strategy. More information on how these programs fit together for nurses is available on our buying your first home page.

Help to Buy Scheme

The Help to Buy Scheme is a shared equity program where the Australian Government contributes up to 40% of the purchase price for a new home, or up to 30% for an existing home. It cannot be combined with the 5% Deposit Scheme or any other government shared equity scheme, loan or guarantee for the same purchase. It may be used alongside the First Home Owner Grant and stamp duty concessions. Income eligibility thresholds apply and are indexed annually.

Because eligibility rules and scheme details can change, speak with one of our mortgage brokers for nurses before making any decisions about which programs to apply for.

Initial Consultation

The process begins with a conversation about your property goals and financial situation. Our Finance and Mortgage Brokers explain the loan process for nurses as first home buyers, assess your borrowing position, and begin identifying suitable loan options from a wide panel of banks and lenders across Australia. This is also where we confirm which first home buyer programs you may be eligible for, including government grants and LMI waivers.

Financial Assessment

Your broker conducts a detailed review of your finances, including income, expenses, assets, liabilities, and savings. They determine your borrowing capacity and explain key terms such as loan-to-value ratio (LVR), Lenders Mortgage Insurance (LMI), and any government schemes or concessions available to nurses as first home buyers. This includes confirming eligibility for the 5% deposit option and any state-based stamp duty concessions.

Loan Comparison and Selection

With a clear picture of your financial position, our Finance and Mortgage Brokers research and compare a range of loan options suited to nurses as first home buyers. These may include fixed or variable interest rate loans, products with offset accounts, or loans with flexible repayment features. Your broker will help you weigh the pros and cons of each option so you can choose the one that aligns with your needs as a nurse buying your first home.

Loan Pre-Approval

Securing loan pre-approval gives you a clear idea of how much you can borrow and strengthens your position when making offers on a property. For nurses as first home buyers, pre-approval also confirms which grants or waivers have been factored into your borrowing position. Your broker prepares and submits the required documents, such as payslips, tax returns, and bank statements, to the lender for assessment.

Formal Loan Application

Once you have selected your preferred loan, your broker completes and submits the formal application to the lender. They manage all required documentation, respond to any lender queries, and keep you informed throughout the process. This stage is particularly important for nurses as first home buyers accessing specific schemes or waivers that require additional verification of your AHPRA registration and employment status.

Loan Approval and Settlement Preparation

After your loan is formally approved, your broker reviews the loan agreement with you and confirms that all terms, including the interest rate, fees, and repayment schedule, are clear. They also assist with setting up your loan account and arranging any necessary insurance. For nurses as first home buyers, this stage is where your eligibility for grants and concessions is finalised and applied.

Settlement and Ongoing Support

At settlement, the lender advances the funds and ownership of the property transfers to you. Our brokers coordinate with your solicitor or conveyancer to ensure the process runs smoothly. After settlement, our Finance and Mortgage Brokers remain available for ongoing support, whether that involves managing repayments, exploring refinancing options, or planning your next property purchase.