Home Loans for Registered Nurses

Registered nurses are among the most consistent income earners in Australia, yet many lenders still treat nursing income as though it were unpredictable. Shift loadings, overtime, penalty rates and allowances can make up a significant portion of a registered nurse's total pay, and the way a lender assesses those components directly determines how much you can borrow. Some lenders assess overtime and allowances at 100% for hospital-employed nurses. Others discount that same income by 20% or more, or exclude it entirely. That single difference can move your borrowing capacity by tens of thousands of dollars.

A registered nurse home loan is a home loan placed through a mortgage broker for nurses who understands these differences and knows how to use them in your favour. We know which lenders offer LMI waivers for registered nurses, which assess your full income, and how to present an application that reflects what you actually earn. That is the difference between a standard home loan application and one built around your profession.

Who Qualifies for Registered Nurse Home Loans

Registered nurse home loans are available to nurses holding current general, specialist or provisional registration with AHPRA under the Nursing and Midwifery Board of Australia. This includes registered nurses working across public hospitals, private hospitals, aged care facilities, community health, mental health services, correctional health, school nursing and specialist clinical roles such as emergency, intensive care, perioperative, oncology and paediatric nursing.

Nurse practitioners, who hold endorsed registration with AHPRA, are typically treated as registered nurses for the purposes of lender professional benefits. You can also explore dedicated pages for home loans for nurse practitioners, home loans for clinical nurse specialists, home loans for aged care nurses, home loans for paediatric nurses, home loans for critical care nurses and home loans for community health nurses. Our brokers can confirm which lenders and policies apply to your specific role and registration type.

LMI Waivers for Registered Nurses

One of the most valuable benefits available to registered 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.

Westpac Group lenders, including Westpac, St George Bank, Bank of Melbourne and BankSA, may waive LMI for registered nurses borrowing up to 90% LVR, subject to a minimum annual income of $90,000. The maximum loan amount under this waiver is $5 million, with total lending with LMI waiver up to $7.5 million. Principal and interest repayments are required, and evidence of current AHPRA registration must be provided with the application.

Bankwest may also offer an LMI waiver for eligible professionals in the medical category, with loans up to $2 million at a maximum LVR of 89.99%, or up to $3 million at a maximum LVR of 84.99%. Loan purposes can include purchase, refinance, construction or renovation of an owner-occupied or investment property. Applications involving foreign income or family support guarantees are not eligible. Interest-only repayments are excluded, except for construction loans during the build period.

Commonwealth Bank's Professionals Offer does not currently extend to registered nurses. The CBA policy documentation explicitly excludes nurses from the eligible medical professionals list. NAB's LMI waiver policy covers a range of medical practitioners including dentists, GPs, surgeons, pharmacists, physiotherapists and veterinary practitioners, but does not currently list registered nurses as an eligible profession.

Registered nurses who do not meet the income threshold for a lender LMI waiver may still be able to avoid LMI through the Australian Government 5% Deposit Scheme. Visit our no LMI loans for nurses page for a full breakdown of how registered nurses can purchase without paying LMI.

How Registered Nursing Income is Assessed

Registered nursing income frequently includes shift loadings, overtime, penalty rates, uniform allowances and other employment-related payments above base salary. The treatment of these components varies between lenders and can materially affect borrowing capacity.

Westpac Group lenders may assess overtime and allowances at 100% for hospital-employed nurses under their Emergency Services Policy, where the applicant has been in their current role for a qualifying period. Suncorp may assess overtime and allowances for essential services workers, including nurses, at 100% where the income is confirmed as regular and ongoing and the applicant has been in their current employment for at least three months with probation passed, or has performed a similar role for at least 12 months. UBank may assess 100% of base salary, allowances and overtime income for eligible medical and health workers under specific occupation codes, compared with 80% for regular overtime and shift allowances under their standard policy.

For registered nurses on casual contracts, lender requirements vary. Some lenders accept six months of consistent income, while others require 12 months in the same role. Suncorp may accept casual income earned continuously for six months or more at 100%. Bankwest validates casual income using year-to-date payslip figures, with a PAYG summary or income statement required where three months of year-to-date data is not evident on the payslip.

CBA assesses PAYG base income at 100% for full-time and permanent part-time employees, using payslips, salary credits or employment contracts for verification. For permanent part-time employees with varying hours, CBA may use the payslip showing the lowest hours worked.

The difference between a lender assessing overtime at 100% versus 80% or less can change a registered nurse's borrowing capacity by tens of thousands of dollars. A broker who works with mortgages for nurses every day can match your application with the lender that takes the most accurate view of your income.

Australian Government 5% Deposit Scheme for Registered Nurses

The Australian Government 5% Deposit Scheme may allow eligible first home buyers, including registered nurses, to purchase a property with a 5% deposit and no LMI. Eligible single parents and single legal guardians may be able to purchase with as little as a 2% deposit. From 1 October 2025, the Australian Government expanded the scheme by removing income caps and uncapping the number of available places. Property price caps still apply, and the property must be in Australia and priced at or below the location's price cap.

The scheme cannot be used together with the Help to Buy Scheme for the same purchase, but it may be combined with the First Home Owner Grant and stamp duty concessions. Applications are made through participating lenders, not directly with Housing Australia. Visit our 5% Deposit Scheme for nurses page for a full breakdown.

For registered nurses earning below the $90,000 threshold required for a lender LMI waiver, this scheme may provide the most accessible route to purchasing with a reduced deposit and no LMI. Our brokers can confirm eligibility and help determine whether the scheme or a lender LMI waiver provides the more favourable outcome for your situation.

Salary Packaging and Not-for-Profit Income for Registered Nurses

Many registered nurses work for public hospitals, charities and other not-for-profit employers that offer salary packaging arrangements. Under these arrangements, a portion of pre-tax salary is directed toward expenses such as mortgage repayments, rent or living costs, which can reduce taxable income. Bankwest's income validation policy requires the salary sacrifice amount to be deducted from gross salary and entered as untaxed income, with any amount exceeding the tax-free threshold included in gross salary. Only voluntary salary sacrifice can be used for validation.

The treatment of salary-packaged income varies between lenders. Some may assess the full gross salary including the packaged component, while others assess the reduced taxable amount. A broker familiar with registered nursing income structures can ensure the application is placed with a lender that treats salary packaging favourably.

Types of Home Loans Available to Registered Nurses

Home loans for registered nurses come in a range of structures to suit different financial goals. 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 repayments for a set period, while a variable rate loan offers flexibility and the ability to make extra repayments. If you are looking at property investment, visit our investment loans for nurses page. If you are looking at refinancing, we can help assess whether switching to a different loan structure or lender could work in your favour.

How Nurse Loans Helps Registered Nurses Get Home Loans Approved

Nurse Loans provides access to 70+ banks and lenders and over 2,000 loan products across Australia. Our brokers understand how registered nursing income is structured across hospital, aged care, community and specialist clinical settings, and which lenders assess shift income, overtime and allowances most accurately. We identify LMI waiver eligibility, confirm government scheme options, and position each application to reflect the full scope of a registered nurse's earnings. Whether you are buying your first home, refinancing, or investing, we manage the research, comparison and application process from pre-approval through to settlement.

Step 1: Free consultation about your nursing income and goals

We start by understanding your income structure in detail, including base salary, shift loadings, overtime, penalty rates, allowances and any salary packaging arrangements through your employer. We ask about your roster pattern, your employment type, your specialty area and whether you work across multiple employers, through an agency, or hold a casual contract. If you are a self-employed registered nurse, we discuss how that income is documented. This shapes every decision that follows, including which lenders we approach and how your application is presented.

Step 2: Confirm your LMI waiver and scheme eligibility

Before we assess borrowing capacity, we confirm whether you qualify for an LMI waiver as a registered nurse. Westpac Group lenders may waive LMI at up to 90% LVR for registered nurses earning a minimum of $90,000 per year, and Bankwest may offer a waiver for eligible medical professionals. We also check whether you qualify for the Australian Government 5% Deposit Scheme, which from 1 October 2025 has no income caps and no limit on available places. Getting this right at the outset can save you tens of thousands of dollars and determines your deposit strategy.

Step 3: Assess your borrowing capacity using lenders that recognise nursing income

We calculate how much you can borrow using lenders that assess your nursing income accurately. Where possible, we place your application with lenders that assess overtime and allowances at 100% for hospital-employed registered nurses rather than discounting them to 80% or less. We also factor in HECS debt, existing commitments and living expenses so there are no surprises later. If your income includes casual, agency or part-time components, we identify which lenders take the most favourable view of that structure.

Step 4: Compare loan options across 70+ lenders

We research and compare home loans across our full lender panel, including fixed, variable, split and offset products. We present you with the options that suit your goals, explain the trade-offs of each clearly, and confirm which loans can be paired with any LMI waiver or government scheme you are eligible for.

Step 5: Prepare and lodge your pre-approval application

We prepare your complete application, including payslips that show your shift income breakdown with base salary, overtime and allowances itemised separately, your employment contract, AHPRA registration confirmation and all supporting documents. For registered nurses on rotating rosters or working across multiple wards or facilities, we ensure the payslips and income evidence presented reflect your actual earning pattern. A strong application from the outset reduces back-and-forth with lenders and speeds up pre-approval.

Step 6: Manage your formal application through to approval

Once you have found a property, we submit the formal application, manage all lender queries and keep you updated throughout. We handle the process so you are not chasing emails between shifts or during night duty.

Step 7: Settlement and beyond

We coordinate with your solicitor or conveyancer through to settlement. After settlement, we remain available for loan reviews, refinancing conversations and future property plans, including investment loans and expanding your property portfolio. We check in regularly to make sure your loan continues to work as hard as your income does.