If you work regular casual or agency shifts, you can still be assessed in a similar way to someone working full-time or part-time. You'll generally need at least 6 months in your current role, 2 recent payslips showing at least 6 months YTD income, and in some cases 6 months of bank statements showing your pay coming into your account on a regular basis. If your YTD income covers less than 6 months, most lenders will also accept your PAYG summary or tax return from the previo

If you're working full-time or part-time in a permanent role, we can assess your income at 100% of your base salary with no minimum time on the job. However, some lenders may require at least 3 to 6 months in your current role, or 12 months in the same industry if you've recently changed employers. You'll need to provide 2 of your most recent payslips. If you've recently started a new job and don't have 2 payslips yet, most lenders will accept an employment contract or letter

Lenders Mortgage Insurance or LMI in short is an insurance premium that you have to pay for when you borrow more than 80% of the property's value. For example, if you only have a 10% deposit and you’re not accessing any government schemes, you would be borrowing 90% of the property value which means that you are considered a higher risk to the lenders. LMI protects the lender, not you. If you were in a position where you couldn’t repay the loan and the property had to be sol

If you work as a nurse, paramedic, police officer, firefighter, or teacher, I am accredited with lenders that offer an LMI waiver to these professions which means that you could borrow up to 90% of the property value without paying Lenders Mortgage Insurance. This can save you thousands of dollars. The most commonly accepted roles are registered nurses, paramedics, police officers, firefighters, and registered teachers. You'll need to be a permanent full-time or part-time emp

Your employer may have set up arrangements to salary sacrifice part of your pre-tax pay directly into your super as a voluntary contribution. What this means for you as a first home buyer is that you can actually claim up to $50,000 under the first home super saver scheme. That extra money could make a HUGE difference because you can use it towards your deposit, settlement fees, potentially reduce or avoid LMI, or even keep some as a cash buffer to help you in those first fe