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 teachers. One lender goes to 90% without LMI for registered teachers with at least three years in the profession, where teaching is the main source of household income.
- Anyone working in education, buying a first home. One lender's first home buyer waiver covers anyone working at a school, university, TAFE, kindergarten or childcare centre, and even students studying teaching, up to 90% on loans up to $800,000.
- Essential worker loans. Some lenders offer up to 90% for primary and secondary teachers, where the lender pays the LMI, with as little as $5,000 in genuine savings and no minimum income.
- Professional worker products. At least one lender goes up to 95% for teachers under a broader professional worker product.
The conditions to know about
- Owner-occupied with principal and interest. Most teacher waivers are for the home you live in, not investments.
- Location. Some lenders only go to 90% in metro areas, and 80% in regional areas.
- Loan size. Caps range from $800,000 to about $1.35 million depending on the lender and location.
- Combining with the 5% Deposit Scheme. Some first home buyer waivers can't be combined with the government scheme. I'll compare both.
- Casual relief teachers. Some lenders accept casual relief teaching income, sometimes counting 90% of it.
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 teachers get a home loan without LMI?
Yes, with some lenders, usually up to 90% for an owner-occupied home. The conditions depend on the lender, your experience and the location.
Do childcare workers qualify?
One lender's first home buyer waiver covers anyone working in childcare, kindergartens and schools, regardless of role.
Is the 5% Deposit Scheme better for teachers?
It depends on the price and location. The scheme goes to 95% but has price caps. A teacher waiver goes to 90%. I'll work out which costs you less.
Can I use a teacher LMI waiver to refinance?
Some waivers are for purchases only. A few lenders also allow refinances, so it's worth checking.
