I'm Jason Birks, a Brisbane mortgage broker. I spent over ten years lending at Westpac and NAB before starting Birks Financial Group, and I compare more than 60 lenders. This page is based on the lender policies I work with, as at October 2026. For other professions, see home loans for professionals.
What an LMI waiver is
Lenders normally charge lenders mortgage insurance (LMI) when you borrow more than 80% of a property's value. It protects the lender, not you, and it can cost thousands to tens of thousands of dollars. With a waiver, the lender doesn't charge it because of your occupation. My LMI guide covers how it's priced.
Who qualifies, and how far you can go
- Registered nurses and midwives. Several lenders go to 90% without LMI. Some set a minimum income of about $90,000, and some of these also allow investment loans, refinancing and equity release.
- First home buyers. One lender offers up to 95% without LMI for registered nurses and midwives buying their first home to live in. It needs principal and interest repayments and income protection insurance.
- Enrolled nurses and anyone working in health. One lender's first home buyer waiver covers anyone working in healthcare, including enrolled nurses, nursing support and personal care workers, up to 90% on loans up to $800,000.
- Hospital employees. One lender waives LMI to 90% for any AHPRA-registered health practitioner and any employee of a public or private hospital, for owner-occupied purchases and refinances in certain postcodes.
- Essential worker loans. Some lenders offer up to 90% for registered nurses under essential worker products, where the lender pays the LMI, with as little as $5,000 in genuine savings.
The conditions to know about
- Not every bank includes nurses. At least one major lender excludes nurses from its medical waiver, so going straight to your own bank can mean paying LMI you didn't need to.
- Owner-occupied or investment. Some waivers are for the home you live in only, with principal and interest repayments.
- Location. Some lenders only go to 90% in metro areas or set postcode limits.
- Combining with the 5% Deposit Scheme. Some first home buyer waivers can't be used together with the government scheme, so I'll compare both.
- Proof. Your AHPRA registration, checked before approval.
Policies change during the year. Use this as a guide to whether it's worth asking, then let me check the current rules for your situation.
Questions people ask
Can nurses get a home loan without LMI?
Yes. Several lenders waive LMI for registered nurses and midwives up to 90%, and one goes to 95% for first home buyers. Conditions vary.
Do enrolled nurses qualify for an LMI waiver?
Some lenders include enrolled nurses, especially for first home buyers. Many only include registered nurses.
Is there a minimum income?
Some lenders set about $90,000. Others, and most essential worker products, have no minimum income.
Can I use a nurse LMI waiver for an investment property?
With some lenders, yes. Others limit it to your own home.
