LMI WAIVER – HEALTHCARE WORKERS

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 employee as those who work casual generally don’t qualify for this offer. 

The loans are typically for owner-occupied purchases, though some lenders also accept investment purchases and refinances.

What you'll need Evidence of your registration (such as AHPRA registration for nurses and paramedics) and proof of your employment status. Your 2 most recent payslips and 3 months of bank statements to verify your income.

As your broker, I’ll assess which lenders offer this waiver for your specific role, check that you meet the eligibility criteria, and structure your loan to take full advantage of the LMI savings which could mean more money in your pocket, or you can buy sooner with a smaller deposit