Home Loans for Nurses
Access Tailored Home Loans for Nurses with a Mortgage Broker Who Specialises in Healthcare
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Rated 5 from 82 Reviews
Home loans for nurses are not the same as standard home loans. Nurses and midwives in Australia have access to a range of lender benefits and government schemes that most borrowers simply do not qualify for. Understanding these advantages is the first step toward making the most of your profession when purchasing or refinancing a property.
One of the most valuable benefits available through home loans for nurses is the ability to have Lenders Mortgage Insurance waived entirely. LMI is typically charged when a borrower has a deposit of less than 20%, and it can add tens of thousands of dollars to the cost of a loan. Select lenders will waive this fee for eligible nurses and midwives, allowing you to enter the property market sooner and with a smaller deposit. Visit our dedicated LMI waivers for nurses page to learn more about eligibility and how to apply.
Nursing income is often made up of more than a base salary. Shift allowances, overtime, penalty rates, and casual loadings are a significant part of what many nurses earn. Select lenders will count 100% of this additional income when assessing your borrowing capacity for mortgages for nurses, which can meaningfully increase the amount you are able to borrow. A specialist mortgage broker for nurses understands which lenders apply these policies and can match you with the right one.
Some lenders offer professional packages specifically designed for healthcare workers, including nurses. These packages can include interest rate discounts, reduced fees, and access to premium loan features such as offset accounts. Home loans for nurses structured through a professional package can result in substantial savings over the life of the loan. Our Finance and Mortgage Brokers will identify whether you qualify and help you access these benefits.
The Home Guarantee Scheme allows eligible nurses to purchase a property with as little as a 5% deposit and no LMI. From 1 October 2025, the scheme has been expanded with no income caps and no limits on available places, making it accessible to a much wider group of nursing professionals. This is one of the most significant opportunities available for nurses looking to buy their first home or re-enter the property market. Learn more on our Home Guarantee Scheme page, or explore the 5% deposit scheme for nurses for a full breakdown of how it works.
Nurse Loans provides access to 70+ banks and lenders and over 2,000 loan products across Australia. Our Finance and Mortgage Brokers have specialist knowledge of how shift income, overtime, and penalty rates are assessed by different lenders, which means we can position your application in the most favourable way. Whether you are buying your first home, refinancing, or investing, we handle the research, comparison, and application process on your behalf. You focus on your patients while we focus on your loan.
Home loans for nurses come in a range of structures to suit different financial goals and circumstances. The main options include fixed rate loans, variable rate loans, split loans combining both, loans with offset accounts, and interest-only loans. A fixed rate loan provides certainty over your repayments for a set period, while a variable rate loan offers flexibility and the ability to make additional repayments. Interest-only loans for nurses can be useful for investors or those managing cash flow during particular life stages.
Your borrowing capacity as a nurse depends on your income structure, including base salary, overtime, allowances, and any other earnings. It is also influenced by your existing debts, living expenses, and the deposit you have available. Because many lenders treat nursing income differently, working with a specialist mortgage broker for nurses can result in a higher assessed borrowing capacity than you might receive applying directly. Use the calculator on this page to get an initial estimate, and speak with our team for a detailed assessment tailored to your situation.
For more information on home loans for nurses and the full range of options available, explore our resources or contact us to speak with a specialist today.
Initial Consultation for Home Loans for Nurses
The process begins with a conversation about your property goals, whether you are purchasing a home, investing, refinancing, or exploring another loan type. Our Finance and Mortgage Brokers explain how home loans for nurses work, assess your financial position, and begin identifying suitable loan options from our panel of 70+ banks and lenders across Australia.
Financial Assessment
Your Finance and Mortgage Broker conducts a thorough review of your finances, including base salary, shift allowances, overtime, expenses, assets, 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 professional discounts you may be eligible for as a nurse or midwife.
Home Loan Comparison and Selection
With a clear picture of your financial situation, our Finance and Mortgage Brokers research and compare loan options suited to nurses. These may include fixed or variable rate home loans, products with offset accounts, or loans with flexible repayment features. Our brokers help you weigh the advantages of each option so you can choose the loan that aligns with your needs.
Home Loan Pre-Approval
Securing loan pre-approval gives you a clear understanding of how much you can borrow and strengthens your position when making an offer on a property. Your broker prepares and submits the required documents, such as payslips, tax returns, and bank statements, to the lender for assessment. Pre-approval also gives you the confidence to act quickly when the right property becomes available.
Formal Home 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 lender queries, and keep you informed throughout the process. For home loans for nurses, this stage often involves presenting your income structure, including overtime and allowances, in the most accurate and favourable way.
Approval and Settlement Preparation
After your loan is formally approved, our brokers review the loan agreement with you and confirm that all terms, including interest rate, fees, and repayment schedule, are clearly understood. They also assist with setting up your home loan account and arranging any necessary insurance such as mortgage protection cover.
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 assisting with future property plans.
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Shaun Cunningham
As a founder, getting a mortgage requires a couple more hoops to jump through, which is why I couldn't recommend Nick O'Sullivan and the Azura team more highly. Not only were they able to offer a seamless process, but Nick was also patient with us as we changed our minds about when to buy (over a period of years!). The truth is anyone can approach a bank and get a mortgage, but when things don't go perfectly (e.g. abrupt government changes), that's when you want a pro on your team like Nick.
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sarah ander
As a first home buyer, Carl and the team at Azura were incredibly helpful throughout the whole process. They made everything feel straightforward and were always there to answer any questions along the way. I’ve already recommended them to friends and would highly recommend them to anyone looking to get a mortgage!
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Van Tran
Nick and the team at Azura Financial exceeded our expectations at every step. Their guidance was clear, their expertise was evident, and they handled every financial detail with care — giving us complete peace of mind throughout the process. We couldn't have asked for a better team by our side. Thank you very much, V&V.
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Alannah Paige
I am a first home buyer and had Carl as my mortgage broker. He worked diligently to follow up any issues or questions I had and made the process as smooth as it could. I highly recommend! Thank you Carl.
PW
Philip Woods
Carl and team were absolutely impressive with their attentiveness to answering questions no matter how stupid they were. The urgency they put into attending to timelines and requests was superb. I would recommend them without hesitation.
めめん
Nick was amazing to work with. He's easygoing, quick to reply, and genuinely a very competent broker. He made my loan possible and secured a great deal for me. Highly recommend:)
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Carina
Nick O’Sullivan helped me with my first investment property purchase last year. As it was my first time, I had plenty of questions, but he was always happy to help and made the whole process seamless. I recently used Nick again to refinance my loan and secure a great interest rate, and once again everything was handled smoothly and efficiently. I highly recommend Nick and his team and look forward to working with them again in the future.
JS
Joey Shatari
The ONLY broker i will use in the future is Carl Elsass. That is all.
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Menefrida Horbino
Nick made the entire mortgage process seamless and stress-free. He was incredibly knowledgeable, responsive, and took the time to explain every step clearly. We always felt supported and confident in our decisions thanks to his guidance. Highly recommend Nick to anyone looking for a reliable and trustworthy mortgage broker
Nurses often have several pathways to buy with less than 20%. With an LMI waiver from a participating lender, eligible nurses can purchase with a 10% deposit and no Lenders Mortgage Insurance. Through the Australian Government 5% Deposit Scheme, nurses can buy with a 5% deposit and no LMI. Single parents and single legal guardians may be able to purchase with as little as a 2% deposit under the same scheme. Eligibility depends on your income, employment type, and the specific lender or scheme criteria.
Eligible roles typically include Registered Nurses, Midwives, Nurse Practitioners, and Clinical Nurse Specialists. Most lenders require a minimum annual income of $90,000 to qualify. Enrolled Nurses are generally not eligible for the LMI waiver, but they may be able to avoid LMI by purchasing through the Australian Government 5% Deposit Scheme instead. Criteria vary between lenders, and we can confirm which options apply to your role and income during a consultation.
It depends on the lender. Some lenders assess 100% of your overtime, shift allowances, and penalty rates as income, provided you have been with the same employer for a minimum of 6 months. Other lenders will discount this income by 20% or more, or exclude it entirely. The difference in how a lender treats your non-base income can affect your borrowing capacity by $50,000 to $60,000 or more. Because we work with over 70 lenders, we can identify which ones will give you full credit for the income you actually earn.
At most lenders, the LMI waiver can apply to the full loan as long as one applicant meets the professional and income criteria and holds a significant share of the application. Your partner does not typically need to work in healthcare, though each lender has its own requirements around how income and equity are split across applicants.
Casual and agency nursing income is treated differently depending on the lender. Some require a minimum of 12 months in the same role, while others accept 6 months with consistent hours. Certain lenders calculate casual income over a rolling 52-week period, which can work in your favour if your shifts have been steady. We deal with this regularly and can place your application with a lender that takes the most favourable view of your income structure.
At some lenders, self-employed nurses borrowing under their own name may be able to access the same products and rates as salaried nurses. Maximum loan limits and additional documentation requirements typically apply, so it is worth confirming your eligibility before you apply.
The scheme, formerly known as the Home Guarantee Scheme, allows eligible first home buyers to purchase with a 5% deposit without paying LMI. The government backs the gap between your deposit and the 20% lenders normally require. From 1 October 2025, there are no income caps, no waitlists, and no limit on the number of places available. The scheme has supported over 320,000 Australians since it launched in 2020. Eligibility criteria and property price caps apply, and we can confirm whether your purchase qualifies.
On a $600,000 property with a 10% deposit, LMI would typically cost between $15,000 and $20,000. On properties closer to $900,000, the cost can exceed $30,000. Nurses who qualify for an LMI waiver or purchase through a government scheme may not need to pay any of this, though savings depend on the property value, deposit size, and lender.
The entire process typically takes 8 to 14 weeks, depending on the property type, the lender, and whether you are using a government scheme. Government-backed purchases sometimes involve additional paperwork, and we manage that process to reduce delays.
The First Home Owner Grant is not profession-specific. Any eligible first home buyer purchasing or building a new home may be able to apply. Grant amounts vary by state, ranging from $10,000 in New South Wales and Victoria up to $50,000 in the Northern Territory. The grant generally applies only to new or substantially renovated properties that you intend to live in as your principal place of residence. We can confirm the current amount and eligibility rules in your state.
Trustee for the O'Sullivan Family Trust ABN: 29 235 649 437, Credit Representative #482294 and is authorised under Australian Credit Licence 389328.
Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Names & Locations of users have been changed to protect their privacy and are illustrative only.
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