CBA LMI Waiver Expansion for Australian Workers

This change means that those workers protect and serve Australians can now buy a home with as little as a 5% deposit—without being hit with thousands of dollars in LMI costs. In this article we'll cover what’s changed, who’s eligible, and how to apply for the CBA LMI waiver.

CBA LMI Waiver for Frontline Workers

Commonwealth Bank’s LMI waiver for frontline workers is 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 can now access home loans with as little as a 5% deposit—without having to pay Lenders Mortgage Insurance (LMI). For many frontline workers, this waiver can save tens of thousands of dollars, depending on the property price and loan amount.

The move recognises the critical role these professions play in Australian society, especially during times of crisis, and offers a practical financial benefit in return. It also addresses 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 is not only supporting key workers but also making homeownership more achievable for those who give so much back to their communities.

It is not known how long this trial period will last, so speak to a mortgage broker at EE Mortgages today to get started on your journey to buying a property. Even if you are not eligible, or if CBA's LMI Waiver expansion trial has expired, we can help you find other banks that waive LMI for your profession.

CBA LMI Waiver: Eligible Professions

Here is a quick table which summarises the industries that CBA accepts for LMI waivers, including the newly added Frontline Workers in the first row. 

How to Apply for CBA LMI Waiver

Applying for CBA’s expanded 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

CBA isn't the only lender that waives LMI for frontline workers. For example, Bank First, BankVic, Granite Home Loans and People's Choice all offer LMI waivers for emergency services, and 8 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 expand 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 one of the newly eligible professions, it could be worth tens of thousands in savings and get you into a home sooner than you expected. But the rules can be complex, and the waiver isn’t guaranteed, so get some free advice and check your eligibility early.