Two nurses on identical rosters can be offered very different loan amounts, purely because of how each lender treats penalty rates. Agency shifts, a second employer, part-time fractions and periods of maternity leave all get handled inconsistently — and a lender that discounts them will quietly cost you six figures of borrowing capacity without ever telling you why.
Most buyers need a 20% deposit to avoid lender's mortgage insurance. Essential worker waivers remove it entirely — often tens of thousands of dollars that stays in your pocket.
Standard assessments count as little as 80 cents in every dollar of secondary income. Specialist policies count all of it, which directly raises what you can borrow.
Packaged income is routinely mishandled or ignored. Presented correctly to the right lender, it works in your favour rather than disappearing from the assessment.
No. Nurses and midwives can access lender's mortgage insurance waivers and buy with as little as a 5–10% deposit plus costs, with $0 LMI. Waiver availability varies by lender and is subject to change.
With a specialist essential worker policy, yes — penalty rates, night and weekend loadings and overtime are counted at 100%. Standard bank assessments commonly count only 80% of that income.
Yes. Casual and agency nursing income is acceptable to a number of lenders, usually with six to twelve months of history. The lender you approach matters far more than the fact you work casually.
Handled correctly it helps. Packaged income needs to be presented to a lender that understands public and not-for-profit hospital arrangements, otherwise it is often ignored or treated as a deduction.