If you're a nurse dreaming of buying a home, here's some great news: you may be able to avoid paying Lenders Mortgage Insurance (LMI) — even if you have less than a 20% deposit. Let us show you how you may be able to save tens of thousands of dollars.
What is LMI?
Lenders Mortgage Insurance is an insurance policy that protects the lender when a borrower has less than a 20% deposit. It is a once off premium that is usually added to your loan at settlement. It allows you to access finance to purchase a home without having to save a full 20% deposit, but it comes at a cost — often $10,000–$20,000+, depending on your loan amount and deposit.
The Good News for Nurses
Some Australian lenders offer LMI waivers to eligible medical professionals — and that includes Registered Nurses and Midwives. In some cases, you may be able to borrow up to 90–95% of the property value without paying LMI.
This can help you:
Every lender has slightly different rules, but you generally need to:
Get Expert Help
These waivers aren’t always advertised, and not every lender offers them. That’s where we come in. Our brokers at Amplified Lending Solutions, know which banks and lenders have these policies and can guide you through the process. We will help you with not just LMI waivers, but look at interest rates, flexibility, redraw and offset accounts, fees and more.
💬 Contact us today to find out if you’re eligible — and let’s get you one step closer to your new home.
Lenders Mortgage Insurance is an insurance policy that protects the lender when a borrower has less than a 20% deposit. It is a once off premium that is usually added to your loan at settlement. It allows you to access finance to purchase a home without having to save a full 20% deposit, but it comes at a cost — often $10,000–$20,000+, depending on your loan amount and deposit.
The Good News for Nurses
Some Australian lenders offer LMI waivers to eligible medical professionals — and that includes Registered Nurses and Midwives. In some cases, you may be able to borrow up to 90–95% of the property value without paying LMI.
This can help you:
- Buy a home sooner, with a smaller deposit
- Save thousands in LMI Premium
- Potentially provide you with a lower interest rate
- Keep more money in your pocket for moving, renovations, or furniture
Every lender has slightly different rules, but you generally need to:
- Be a Registered Nurse or Midwife
- Be currently employed in your field
- Have a strong credit history
- Meet income and employment criteria
- Often, buy an owner-occupied home
Get Expert Help
These waivers aren’t always advertised, and not every lender offers them. That’s where we come in. Our brokers at Amplified Lending Solutions, know which banks and lenders have these policies and can guide you through the process. We will help you with not just LMI waivers, but look at interest rates, flexibility, redraw and offset accounts, fees and more.
💬 Contact us today to find out if you’re eligible — and let’s get you one step closer to your new home.
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