Home Loans for Essential Workers

Borrow up to 95% LVR with No LMI
Borrow up to 105% LVR with No LMI using a guarantor
Save tens of thousands of dollars by waiving LMI on your home loan
Include overtime and allowances to maximise borrowing power
Lower interest rates, discounted for essential workers

Essential workers (including emergency services, nurses and teachers) play a crucial role in keeping our communities running, often working in high-demand, high-responsibility environments. Because of the stability and importance of their professions, essential workers are eligible for special home loan benefits, such as Lenders Mortgage Insurance (LMI) waivers. This allows eligible essential workers to secure a home loan with less than a 20% deposit—potentially saving tens of thousands of dollars by avoiding LMI fees.

Essential workers may also qualify for increased borrowing capacity and more flexible loan terms, depending on the lender. These advantages can benefit both first-time buyers and those looking to invest in additional properties.

Speak to an Expert and

Get Your Mortgage Approved

To get started on your journey of securing a home loan, fill in the form below, and an experienced mortgage broker will contact you about your personal situation. You can also call us directly on (02) 9188 9398.

Shaun Bettman

#1 Mortgage Broker

Which Lenders Offer LMI Waivers for Essential Workers?

Bank / Lender with LMI Waiver	Maximum LVR	Eligibility Criteria
Bank First	90%	Paramedics, teachers and nurses Principal & Interest loans only Property needs to be owner-occupied
Bank of Melbourne	90%	Nurses Maximum loan amount: $5 million Minimum income: $90,000 per annum
BankSA	90%	Nurses Maximum loan amount: $5 million Minimum income: $90,000 per annum
BankVic	90%	Police officers, paramedics, firefighters and nurses Maximum loan amount: $1.2 million Property must be located in a metropolitan area in Victoria Property needs to be owner-occupied
CBA	95%	Police officers, paramedics, firefighters and nurses Principal & Interest loans only Borrow up to 90% LVR for refinancing Property needs to be owner-occupied
Granite Home Loans	95%	Nurses and paramedics Maximum loan amount: $1 million Must have a university degree Property needs to be owner-occupied Maximum loan term of 28 years
Granite Home Loans	90%	Police officers, paramedics, firefighters, nurses and teachers Maximum loan amount: $1.5 million Property needs to be owner-occupied Maximum loan term of 28 years
People's Choice	90%	Police officers, paramedics and nurses Maximum loan amount: $1.2 million Property can be owner-occupied or an investment property
St. George	90%	Nurses Maximum loan amount: $5 million Minimum income: $90,000 per annum
Westpac	90%	Nurses Maximum loan amount: $5 million Minimum income: $90,000 per annum

How Much Can Essential Workers Borrow?

There are several options that you can choose from, which we explain below. Consider which is right for you depending on your personal situation.

Borrow up to 95% of the property value with NO LMI

Essential workers can borrow up to 95% of a property’s value without the need for Lenders Mortgage Insurance (LMI), making it a popular and accessible option. A 5% deposit is considered a reasonable amount to save, and waiving the LMI requirement can save essential workers tens of thousands of dollars in upfront costs. Unlike some other loan programs, there is no minimum income requirement for borrowing up to 95% Loan-to-Value Ratio (LVR) without LMI.

Note: lenders change their policies frequently, so contact EE Mortgages to enquire if 95% No LMI home loans are currently available for essential workers.

Borrow up to 105% of the property value

Essential workers also have the opportunity to borrow up to 105% of the property’s value if they have someone who can act as a guarantor on their mortgage. This option allows essential workers to borrow not only the entire value of the property but also the additional purchasing costs such as stamp duty and solicitor fees. Importantly, borrowers who use a guarantor can also avoid paying Lenders Mortgage Insurance (LMI), which can save tens of thousands of dollars in upfront expenses.

While borrowing 105% sounds incredibly appealing, it's essential to carefully consider the financial risks associated with using a guarantor. If the borrower defaults on their mortgage, the guarantor becomes responsible for the loan, which could mean risking their own home. For this reason, it’s crucial to ensure both the borrower and the guarantor fully understand the risks and have a solid plan in place to manage the mortgage responsibly.

Do Lenders Consider Overtime When Calculating Income?

Many essential workers work significant amounts of overtime, which can make up a large portion of their overall income. However, when assessing income for home loans, many lenders typically only consider 80% of overtime earnings, which can reduce the assessable income and, as a result, limit their borrowing power.

Fortunately, some lenders recognise the demanding nature of essential workers' jobs and are willing to consider 100% of overtime income when evaluating loan applications. To qualify for this, essential workers will generally need to provide documentation such as an employment letter confirming consistent overtime pay over the last 12–24 months, recent payslips, and an income statement from the previous financial year. These documents help lenders verify the stability of the overtime income, increasing the chances that the full amount will be included in the assessment. At EE Mortgages, we can assist essential workers in negotiating with lenders to maximise their borrowing power based on their complete income.

Contact EE Mortgages

Which Essential Workers are Eligible?

Various essential workers may be eligible for home loans with waived LMI, including:

Paramedics
Ambulance Officers
Firefighters
Police officers
Nurses
Teachers

If you are unsure whether you are eligible, contact us and we can help you with your situation. Even if you do not qualify for an essential worker home loan, we can help you find the best mortgage for your needs.

Important Info about

Home Loans for Essential Workers

You or your partner must be an Australian citizen or permanent resident to qualify
Borrow up to 95% LVR with No LMI
You can purchase a home to live in, or an investment property (depending on the lender)
Your partner does not need to be an essential worker
You don't need to have a university degree
You must have at least $5,000 saved over six months, with rent counted towards savings

How Much Money Do I Save?

By waiving your LMI, you save tens of thousands of dollars, but the exact amount will depend on various factors including your loan amount and the LVR. We have found that most essential workers secure loans with 90% LVR, so we have included a table below with the estimated LMI savings based on different property values and 90% LVR.

Property Value	Loan Amount (90% LVR)	Lenders Mortgage Insurance Saved LMI Saved
$500,000	$450,000	$13,227
$750,000	$675,000	$27,486
$1,000,000	$900,000	$36,712
$1,250,000	$1,125,000	$50,314
$1,500,000	$1,350,000	$60,519

We Help Essential Workers with their

Home Loans

At Eden Emerald Mortgages, we deliver a superior lending experience by combining deep industry knowledge, effective communication, and genuine care, while helping essential workers buy property.

With over 40 years of collective expertise, our team offers competitive rates and a broad array of loan products through a strategic network of over 40+ lending partners for residential borrowers.

What We Offer

Lowest Rates Possible

We have a close partnership with over 40+ lenders, which means we can access special interest rates that are only available for essential workers. This is lower than any rates you will find by approaching the lenders yourself, and with our expertise, we can quickly find you the best home loan product for your circumstances.

Waived LMI

We may be able to waive the LMI (Lenders Mortgage Insurance) on your home loan when you borrow up to 90% of your property value. This is around $44,000 saved on the median house price in Australia. Under certain situations with very stringent lending criteria, it may be possible to borrow at 95% LVR.

Educational Resources

We help you with any questions you have, and provide you with useful resources to navigate the loan process. Whether you are ready to secure a home loan today, or just want to learn more before proceeding, you can book a free call with our friendly team, with no obligation to use our services.

Why Choose

EE Mortgages?

Eden Emerald Mortgages is the #1 mortgage broker in Sydney, as rated by the Canberra Times. Our team specialises in mortgages for essential workers and we have particular expertise with high LVR loans with No LMI. We have been in business since 2007 and secured hundreds of loans for essential workers. We offer our friendly, personalised services and advice at no cost at all, with no obligation to continue with us.

Get in touch, and an expert will call you back

We partner with over 40+ lenders to find you the best rates on your home loan, with up to 95% LVR and No LMI
Receive free friendly and personalised support from our experienced team, with no obligation
We have been in business for over 17 years and we know essential worker home loans better than anyone else
100% free service for clients with no hidden fees (we are paid a commission by the lender)

What Our Customers Say

Since Eden Emerald Mortgages began operations in 2007 we have helped thousands of Australians secure a mortgage. See what some of our satisfied customers say about us below.

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Useful Calculators

Everyone's financial circumstances are different, which is why it is hard to know how much you can borrow or what price range to start house hunting. At Eden Emerald Mortgages, we offer free calculators that can assist you whether you are buying a new home or refinancing an existing property. Our most popular calculators are listed below, and you can see the full range of calculators here.

Frequently Asked Questions

How much does EE Mortgages charge?

Eden Emerald Mortgages does not charge any fees to you for using our services. We are paid a commission by the lender so that you don't have to pay anything. From your first call to the settlement date of your property, there are no costs involved!

How can I book a free appointment?

If you would like to book a free appointment with us, simply call us on (02) 9188 9398 or leave us a message via the Contact Form.

Do I need to meet in person?

Eden Emerald Mortgages has embraced technology, making it much more convenient for you to speak with us. We can communicate via phone, email and video call to eliminate the need for you to meet in person. If it is more convenient for you, we can complete the whole home loan process online.

What lenders does EE Mortgages work with?

EE Mortgages has access to more than 40+ lenders including the big 4 banks and various 2nd tier lenders. We have close relationships with our partners which enables us to negotiate the best rates for your home loan.

How quickly can I get home loan pre-approval?

We pride ourselves on being efficient and quick with our services, and pre-approval can be received in 24 hours depending on the lender of choice. This is also dependant on whether you have all your documents in order. It is a good idea to allow up to 5 business days for pre-approval of your home loan.

How much can I borrow?

We can help you determine your borrowing capacity after we ask you some questions and receive financial documents. In the meantime, you can estimate the amount you can borrow using our borrowing power calculator.

Speak to an Expert and

Get Your Mortgage Approved

To get started on your journey of securing a home loan, fill in the form below, and an experienced mortgage broker will contact you about your personal situation.