How to Access
LMI Waivers and
Who is Eligible?
LMI adds thousands to the cost of buying a home if your deposit is under 20%. The good news it that you can avoid LMI if you are a First-Home Buyer or work in a certain industry. At LMI Waiver, we help you understand who qualifies for an LMI waiver, which banks waive LMI, and how to apply.
Do you Qualify?
List of Borrowers who are Eligible for LMI Waivers
Maximum LVR
90%
Eligible Professions
Employees of the following organisations: Government Schools, Non-Government Schools, Catholic Schools, Universities, TAFEs, Preschools, Kindergartens, Child Care Centres, Family Day Care Australia, Education Unions, Department of Education and Training, Private Colleges
Which Lenders?
Maximum LVR
90%
Eligible Professions
Police Officers, Firefighters, Paramedics, Correctional Officers, Border Force Officers, Emergency Dispatchers, Search and Rescue Workers
Which Lenders?
Bank First, BankVic, CBA, Granite Home Loans, People's Choice
Maximum LVR
95%
Eligible Professions
Aerospace Engineers, Automation Engineers, Biomedical Engineers, Chemical Engineers, Civil Engineers, Electronics Engineers, Electrical Engineers, Energy Engineers, Environmental Engineers, Geotechnical Engineers, Industrial Engineers, Marine Engineers, Materials Engineers, Mechanical Engineers, Mechatronics Engineers, Mining Engineers, Petroleum Engineers, Process Engineers, Robotics Engineers, Software Engineers, Structural Engineers, Systems Engineers, Telecommunications Engineers
Which Lenders?
Maximum LVR
95%
Eligible Professions
Executives, Senior Managers, Directors
Which Lenders?
Maximum LVR
90%
Eligible Professions
Finance Managers, Finance Directors, Financial Controllers, CFOs, Bank Employees
Which Lenders?
Maximum LVR
95%
Eligibility Criteria
- 18+ years of age
- Individual borrower or two joint applicants
- Australian citizens or permanent residents
- Must live in the purchased property (can't purchase an investment property)
- Must earn less than $125,000 annually as an individual or $200,000 for joint applicants
- Must be your first property purchase, or you have previously bought but haven't owned any property or land in Australia in the last 10 years
Maximum LVR
90 - 95%
Eligible Professions
Nurses, Midwives, Optometrists, Pharmacists, Dieticians, Psychologists, Occupational Therapists, Chiropractors, Physiotherapists, Podiatrists, Osteopaths, Audiologists, Medical Imaging Professionals, Social Workers, Welfare Workers, Counsellors, Radiographers, Sonographers, Aged Carers, Disabled Carers, Massage Therapists, Paramedics
Which Lenders?
ANZ, Bank First, Bank of Melbourne, BankSA, BankVic, BOQ, CBA, Granite Home Loans, NAB, St. George, Westpac
Maximum LVR
95%
Eligible Professions
Cloud Engineers, Cybersecurity Specialists, Data Analysts, Data Scientists, Database Administrators, IT Consultants, IT Project Managers, Network Administrators, Network Engineers, Software Developers, Software Engineers, Solutions Architects, Systems Administrators, Systems Analysts, Web Developers
Which Lenders?
Maximum LVR
90 - 95%
Eligible Professions
Solicitors, Barristers, Judges, Partners, Magistrates
Which Lenders?
ANZ, Bank of Melbourne, BankSA, CBA, Granite Home Loans, St. George, Westpac
Maximum LVR
90 - 95%
Eligible Professions
Doctors, Dentists, GPs, Specialists, Surgeons, Anaesthetists, Radiologists, Oncologists, Interns, Residents, Nurses, Midwives, Optometrists, Pharmacists, Dieticians, Psychologists
Which Lenders?
ANZ, Bank First, Bank of Melbourne, BankSA, BankVic, BOQ, CBA, Granite Home Loans, Macquarie Bank, NAB, St. George, Westpac
Maximum LVR
90 - 95%
Eligible Professions
High School Teachers, Primary School Teachers, School Principals, University Lecturers, University Tutors, TAFE Teachers, Child Care Workers, Special Needs Teachers, Trainers, Student Studying Education or Teaching
Which Lenders?
Maximum LVR
90 - 95%
Eligible Professions
Veterinarians, General Practitioners, Specialists, Surgeons, Locums, Interns, Residents
Which Lenders?
ANZ, Bank First, Bank of Melbourne, BankSA, BOQ, NAB, St. George, Westpac
Useful calculators
Work out how much you can borrow
LMI Waiver provides free online calculators to help you estimate your borrowing power, monthly repayments and more. Whether you’re a first-home buyer or looking to refinance, these tools give you a quick snapshot of what you might be able to afford, helping you plan your home loan with confidence.
Once you’ve run the numbers, we recommend contacting us for a more accurate assessment. An expert mortgage broker can factor in your full financial situation, and compare LMI waivers and interest rates, ensuring you get the most accurate calculation and secure the best loan for your needs.
Find THE Information You Need
Useful Articles
HOW Can We HELP?
We provide information and expert guidance
LMI Waiver is dedicated to helping home buyers secure a mortgage without paying LMI. Our website offers a wealth of up-to-date resources, including eligibility criteria, lender policies, and expert insights on how to qualify for an LMI waiver in Australia.
If you have additional questions or need personalised assistance, our team is here to help. Simply reach out through our contact form, and an experienced mortgage broker will call you to discuss your options. At LMI Waiver, we are committed to making the home loan process smooth and stress-free by guiding you through the entire process.
who Is Eligible for LMI WaiverS?
First Home Buyers & Eligible Professionals
First Home Buyers
The First Home Guarantee allows first home buyers in Australia to purchase a home with just a 5% deposit without paying LMI.
Professionals
Certain professions such as doctors, nurses, teachers, lawyers, engineers, accountants and others are eligible for LMI Waivers.
Which Lenders?
There are a number of banks and lenders that offer LMI Waivers based on different criteria. Click here to see a comprehensive list.
People We helped with LMI Waivers
Hear from Aussies who secured Home Loans with No LMI
The team at LMI Waiver explained all our No LMI home loan options clearly and made sure we knew what was happening each step of the way. It was smooth, stress-free, and efficient. Thank you!
Carina J.
Teacher, Sydney
Let us help you with your LMI Waiver, for free!
If you need assistance with your LMI Waiver or home loan, leave your details below and an expert mortgage broker will contact you regarding your query.
about LMI WAIVER
Who We Are
At LMI Waiver, our mission is to help home buyers secure a mortgage with No LMI, saving tens of thousands of dollars. We provide expert insights, up-to-date resources, and professional guidance to navigate the complexities of LMI waivers. Whether you're a first-home buyer or an eligible professional, we make the process simple and accessible.
LMI Waiver was founded by Anthony Bowers, a seasoned mortgage expert with years of experience in the finance industry. His passion for making homeownership more affordable for Australians drives our commitment to providing the best information and support for borrowers seeking an LMI waiver.
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