Profession loans · nurses & midwives
Nurse home loans — 90% LVR with no LMI.
Registered nurses, midwives and enrolled nurses qualify for the 90% LVR LMI waiver at most major Australian lenders. On a $750,000 purchase that's roughly $15,000 staying in your pocket instead of being paid as Lenders Mortgage Insurance — or being capitalised into the loan and accruing interest for 20 years. The waiver is real. The lender that writes the cleanest waiver isn't always the one with the best rate.
Run the LMI break-even → Check borrowing capacity →The standard rule for profession-package waivers is 6–12 months continuous employment before the waiver kicks in. For nurses that rule is regularly waived. Most major and second-tier lenders will accept a new-graduate nurse with a signed permanent or graduate-program contract from a public health service or major private hospital, no employment-history floor. The waiver moves a new-grad nurse from "save another 18 months for the 20% deposit" to "buy now with 10% deposit and no LMI."
The math is meaningful. New-grad RN on $76,000 base + $14,000 shifts and penalties = $90,000 gross. Lender will service around $440,000–$470,000 at 90% LVR on that file shape. The waiver saves roughly $9,000–$11,000 on a $440k loan compared to paying LMI. More importantly: the 18 months of additional saving avoided is 18 months of rent (typically $32k–$42k) plus the property price appreciation in that window. For a Brisbane or Gold Coast nurse in 2026 that's a real bullet to bite.
Who qualifies for the nurse package
AHPRA registration in the relevant Division is the document that establishes eligibility. Below are the registration types and employment shapes most lenders accept under the 90% LVR no-LMI nurse package.
- Registered nurse (AHPRA Division 1). Universal acceptance across the panel. Permanent (full or part-time) employment with public health service or recognised private hospital is the cleanest file shape.
- Enrolled nurse (AHPRA Division 2). Accepted by most lenders writing the nurse package, though a small number limit the 90% waiver to RNs only. Worth confirming on the file before lodging.
- Midwife (AHPRA endorsed). Universal acceptance — same tier as RNs across every lender we route nurses to.
- Nurse practitioner (AHPRA endorsed). Universal acceptance at 90% LVR; a small number of lenders extend NPs with prescribing endorsement to the 95% LVR top tier (typically reserved for medical doctors).
- Specialty-stream RN (ICU, ED, paediatric, oncology, mental health). Same 90% LVR tier as general RNs; some lenders give a small rate concession on the package for specialty-endorsed staff. This is the lender-level deviation worth checking.
- Agency or casual-only nurse. Eligible, but the file shape needs work — typically 6–12 months of demonstrable regular casual income before the waiver is extended. The broker-side work is choosing the lender with the most favourable casual-income shading methodology.
What the waiver is worth — worked example
A typical Gold Coast / Brisbane purchase by a working nurse. The LMI saving sits in the loan permanently — it's not refunded later or recovered through any package-fee mechanism.
Example — registered nurse, $750,000 purchase, 10% deposit
- Purchase price
- $750,000
- Deposit (10%)
- $75,000
- Stamp duty (QLD owner-occ)
- ~$22,800
- Conveyancing & other
- ~$2,200
- Total upfront cash
- $100,000
- Loan amount
- $675,000
- LVR
- 90%
- LMI if no waiver
- ~$15,000 (capitalised or paid)
- LMI under nurse package
- $0
Panel-typical nurse package — comparative table
Selected lenders that write the nurse-package waiver at 90% LVR. Specific eligibility rules and rates vary by file. We model the full panel on the file before recommending one — the table below is comparative, not exhaustive.
| Lender | Max LVR no LMI | Panel note |
|---|---|---|
| CBA | 90% | Universal nurse acceptance (RN/EN/midwife/NP). Cleanest new-grad shape. |
| Westpac | 90% | Standard 90% waiver; senior NP with prescribing endorsement sometimes 95%. |
| NAB | 90% | Accepts new-grad on signed graduate-program contract from public health. |
| ANZ | 90% | 90% waiver; casual-income shading methodology more conservative than peers. |
| Macquarie | 90% | Competitive package rates; strong on PAYG-employed RNs in public health. |
| ING | 90% | Lean package fee structure; clean digital application process. |
| Bankwest | 90% | Strong for WA + QLD public-health-employed nurses. |
| Suncorp | 90% | QLD-aligned; strong for QLD Health employed RNs. |
| Bendigo Bank | 90% | Includes ENs; regional-public-health employment treated favourably. |
| AMP Bank | 90% | Master Limit option for nurses planning multi-property build over time. |
Model your file before choosing the lender
The waiver matters; the rate matters too. The LMI break-even calculator models the dollar trade-off between a package rate and a vanilla 90% loan with LMI capitalised — your actual hold period drives the answer. Borrowing capacity calc shows what the file services across the panel.
Run the LMI break-even → Check capacity →File-shape pitfalls — where the nurse package gets messy
- Casual or agency-only employment. The 6-month casual income rule applies even where the waiver is offered. If income is concentrated through one agency the file is easier; multi-employer agency work needs lender choice based on shading methodology.
- Conditional or applications-in-progress AHPRA registration. Most lenders require full unconditional AHPRA registration at file lodgement. International-trained nurses awaiting registration outcome are typically declined on the waiver until registration is finalised.
- Mixed-income files (clinical + private practice + business). Senior nurses running private nurse-practitioner clinics or consulting work present as part-PAYG, part-self-employed. The package waiver still applies but file routing matters — see /services/self-employed/ for the methodology shading work.
- Joint application where one applicant is a nurse, the other isn't. The waiver still applies on the basis of the nurse-applicant's qualification; servicing is assessed on combined income. Useful when partner income alone wouldn't service the loan.
Quick FAQs
What LVR can a nurse borrow to without LMI?
90% LVR with most lenders running a profession-package waiver. Registered nurses, enrolled nurses and midwives with AHPRA registration qualify; nurse practitioners sometimes extend to 95% LVR at a small number of lenders.
How much is the waiver worth?
Roughly $13,000-$17,000 on a $675,000 loan at 90% LVR. Stays in the borrower's equity rather than being paid to the LMI insurer or capitalised into the loan.
Do new-grad nurses qualify?
Most lenders waive the 6-12 month employment-history rule for nurses with a signed permanent or graduate-program contract. The new-grad case is one of the strongest in profession lending — workforce shortage drives default rates low.
Are casual or agency-only nurses excluded?
Not excluded, but the file shape is harder. Most lenders want 6-12 months of stable casual income before the waiver kicks in. The broker-side work is choosing the lender whose casual-income shading is most favourable.
Can the waiver be used for investment property?
Most lenders cap the nurse waiver at 80% LVR for investor. A small number extend the full 90% waiver to investor for nurses with stronger asset position.