CBA LMI Waiver Expansion for Australian Workers

This change meant that those workers protect and serve Australians could buy a home with as little as 5% deposit without being hit with thousands of dollars in LMI costs. 

CBA LMI Waiver for Frontline Workers

Commonwealth Bank’s LMI waiver for frontline workers trial program was a game-changing initiative aimed at helping frontline and community-focused professionals get into the property market sooner. Under this program, eligible borrowers in roles such as nursing, policing, and emergency services could access home loans with as little as a 5% deposit without having to pay Lenders Mortgage Insurance (LMI). For many frontline workers, this waiver saved tens of thousands of dollars, depending on the property price and loan amount.

The trial recognised the critical role these professions play in Australian society, especially during times of crisis, and offered a practical financial benefit in return. It also addressed a long-standing gap in home loan accessibility, where many frontline workers had the income stability to support a mortgage but struggled to save the full 20% deposit needed to avoid LMI. By waiving this cost, CBA not only supportied key workers but also made homeownership more achievable for those who give so much back to their communities.

Since the trial ended on 30th April 2025, it is a good idea to speak to a mortgage broker at EE Mortgages today to help find a suitable LMI waiver from another lender. 

CBA LMI Waiver: Eligible Professions

While the trial for frontline waivers is now over, there are still a number of industries that CBA currently accepts for LMI waivers. 

How to Apply for CBA LMI Waiver

Applying for CBA’s LMI waiver isn’t automatic—you’ll need to provide documentation to prove your eligibility. This typically includes:

• Proof of your occupation (registration, license, or qualification)
• Employment verification (such as a recent payslip or letter from your employer)
• Details of the property (must be owner-occupied)

It’s recommended to speak to a mortgage broker such as Eden Emerald Mortgages, as we are familiar with CBA’s policies. We can guide you through the process and ensure your application ticks all the boxes. Keep in mind that approval is still subject to standard lending criteria, including credit checks and serviceability assessments. We can give you tips on how to improve your chances of approval, and if you aren't eligible at CBA, we can find other lenders that offer LMI waivers for your profession. The best thing is that our services are completely free of charge for you, as we are compensated by the lender.

Other Lenders With LMI Waiver for Frontline Workers

Since CBA no longer waives LMI for frontline workers, you can consider other lenders. For example, Bank First, BankVic, Granite Home Loans and People's Choice all offer LMI waivers for emergency services, and 7 different lenders offer LMI waiver for nurses. To compare which is the best option for you, in terms of bank fees, interest rates, and other features, it's a good idea to speak to an experienced mortgage broker like EE Mortgages. We can find you the best deal and negotiate the lowest interest rates for you, saving you time and money. Our services are 100% free to you, since we are paid commission by the lender, so you don't have to worry about any fees when working with us.

Conclusion

CBA’s decision to trial an expansion of its LMI waiver program reflects a growing recognition that more Australian workers—especially those in frontline and community-support roles—deserve a fairer shot at homeownership.

If you’re in a frontline profession, reach out to us and get some free advice to see how you can waive your LMI.