- CBA has expanded their LMI Waiver and now caters to Australian frontline workers (nurses, police officers, firefighters and paramedics).
- Australian frontline workers can borrow up to 95% LVR with No LMI, meaning you only need 5% deposit on your home.
- There are a few other lenders (eg: Bank First and People's Choice) that waive LMI for Australian frontline workers, so it's a good idea to use a mortgage broker to find the best deal and lowest interest rates.
- At this stage, the CBA LMI Waiver expansion for Australian workers is only a trial, which could end at any time. Get in touch with an experienced mortgage broker who can help you claim CBA LMI waiver before it expires.
Commonwealth Bank (CBA) has introduced a trial expansion of its LMI waiver, signalling a significant shift in how key Australian workers can enter the property market.
Previously reserved for high-earning professionals such as doctors and lawyers, CBA's LMI waiver now extends to essential frontline workers—including police officers, nurses, firefighters, and paramedics.
This update means eligible workers who serve and protect the community can now purchase a home with as little as a 5% deposit, without the burden of costly LMI fees. In this article, we’ll break down what’s changed, who qualifies, and how to apply for the CBA LMI waiver.
While it is possible to apply for the CBA LMI Waiver directly through Commonwealth Bank, the process can be much smoother and quicker when you partner with an expert mortgage broker, like Eden Emerald Mortgages. Their team specialises in LMI waivers, understand the eligibility criteria and ensure your application is correctly submitted. If you are not eligible at Commonwealth Bank or if the interest rates are too high, a broker can help you easily compare other options, and find the best lender for your needs. Best of all, there is no fee for you to use their services, since they are paid commission by the lender. To find out more about CBA LMI Waiver expansion, or to apply now, fill out the form below.
Speak to an Expert and Waive Your LMI
To receive free guidance throughout your home loan process, including expert advice and recommendations on LMI Waivers, we recommend speaking to Shaun by filling out the form below.
Shaun is an experienced mortgage broker from EE Mortgages who will call you to discuss your situation free of charge. You can also call him on (02) 9188 9398.
CBA LMI Waiver Expansion for Frontline Workers
With the expansion of CBA's LMI Waiver, eligible Australian workers (such as nurses, police officers, and emergency service workers) can secure a home loan with just a 5% deposit, without needing to pay Lenders Mortgage Insurance (LMI). For many, this could mean saving tens of thousands of dollars, depending on the property value and loan size.
This move acknowledges the vital contribution these workers make to Australian society, particularly during challenging times. It also helps close a long-standing gap in the home loan market—where steady income wasn’t always enough to overcome the hurdle of a 20% deposit. By removing the LMI cost, CBA is helping more key workers take that crucial step toward homeownership.
The trial period for this LMI waiver is limited, so it’s a good idea to act quickly. Reach out to a mortgage broker at EE Mortgages to find out if you’re eligible and explore your options. Even if you don’t qualify for this specific waiver or the offer has ended, they can connect you with other lenders who can waive LMI for your profession.
CBA LMI Waiver: Which Professions are Eligible?
Maximum LVR
95%
Eligible Professions
Doctors, Dentists, GPs, Specialists, Surgeons, Anaesthetists, Radiologists, Oncologists, Interns, Residents, Optometrists, Pharmacists
Important Information
- Borrow up to $2.375 million
- Pharmacists need to earn at least $150,000 per annum
- No minimum annual income required for other medical professionals
- Variable or fixed rate loans
- Principal & Interest loans only
- Must be registered with AHPRA and currently employed in Australia
- Documents required to prove your profession
- 100% of overtime is accounted for when calculating borrowing power
Maximum LVR
90%
Eligible Professions
Solicitors, Barristers, Judges, Partners, Magistrates
Important Information
- Borrow up to $2.7 million
- Minimum annual income of $100,000
- Variable or fixed rate loans
- Principal & Interest loans only
- Must be currently employed and registered to practise in Australia
- Documents required to prove your profession
Maximum LVR
90%
Eligible Professions
Chartered Accountants, Certified Practicing Accountants
Important Information
- Borrow up to $2.7 million
- Minimum annual income of $100,000
- Variable or fixed rate loans
- Principal & Interest loans only
- Must be currently employed in Australia and registered to practise as CA or CPA
- Documents required to prove your profession
Maximum LVR
90%
Eligible Professions
Chief Financial Officers, Actuaries, Finance Directors, Finance Managers, Financial Controllers
Important Information
- Borrow up to $2.7 million
- Minimum annual income of $100,000
- Variable or fixed rate loans
- Principal & Interest loans only
- Must be currently employed in Australia and registered to practise as CFA or FIAA
- Documents required to prove your profession
Maximum LVR
90%
Eligible Professions
Employees of CBA, Westpac, ANZ, NAB, Macquarie Bank, ING, BOQ, Bendigo Bank, Adelaide Bank, HSBC, AMP (and subsidiaries)
Important Information
- Borrow up to $2.7 million
- No minimum income required
- Variable or fixed rate loans
- Principal & Interest loans only
- Must be currently employed with the bank for at least 6 months, or have 24 months of cumulative industry experience
- Documents required to prove your employment at eligible bank
Maximum LVR
95%
Eligible Professions
Veterinarians, General Practitioners, Specialists, Surgeons, Locums, Interns, Residents
Important Information
- Borrow up to $2.375 million
- No minimum annual income requirements
- Variable or fixed rate loans
- Principal & Interest loans only
- Must be currently employed in Australia and registered with relevant veterinary board
- Documents required to prove your profession
- 100% of overtime accounted for when calculating borrowing power
How to Apply for LMI Waiver at CBA
To apply for a CBA LMI waiver, simply follow these steps:
- Check Eligibility: Find out if you are eligible, based on your profession, deposit amount, and desired loan amount. It is a good idea to speak to a mortgage broker who can help you determine eligibility, as well as guide you through the entire process.
- Speak to CBA: If you use a mortgage broker, they will speak to CBA on your behalf, so you can skip this step. If you decide to apply for a LMI waiver by yourself, then visit CBA and tell them you want to apply for a No LMI home loan.
- Submit Documents: Provide any documents that are requested, such as proof or employment, relevant certification or registration for your profession, pay slips, bank statements and tax returns.
- Receive Confirmation: If you are approved, CBA will waive your LMI, and you can borrow more than 80% LVR without having to pay any LMI costs.
Frequently Asked Questions
Yes, CBA waives LMI for nurses as part of their expanded LMI waiver policy. However, this policy is still under a trial period, so it may end without notice.
There are several banks that waive LMI for Australian frontline workers. Five lenders waive LMI for emergency services, and eight lenders waive LMI for nurses. To find out which is the best choice for your personal situation, use a free mortgage broker to compare the differences.
If you are frontline worker or medical professional you will be able to waive LMI at CBA with only 5% deposit. Alternatively, if you are a first-home buyer you can avoid LMI with 5% deposit.
Use a Mortgage Broker to Waive LMI at Commonwealth Bank
The easiest way to secure a home loan with an LMI waiver is by working with a mortgage broker. Their services come at no cost to you (as they are compensated by the lender), and they’ll assist you through the entire home loan and LMI waiver process. A broker can help you find the lowest possible interest rates while maximising your borrowing power.
We highly recommend EE Mortgages, a specialist mortgage broker in LMI waivers. To get started or even just to answer some questions, fill out the form below or call them on (02) 9188 9398.
Speak to an Expert and Waive Your LMI
To receive free guidance throughout your home loan process, including expert advice and recommendations on LMI Waivers, we recommend speaking to Shaun by filling out the form below.
Shaun is an experienced mortgage broker from EE Mortgages who will call you to discuss your situation free of charge. You can also call him on (02) 9188 9398.