The recurring problem is contract type. A teacher on a fourth consecutive twelve-month contract is, in practice, permanently employed — but a lender reading the contract end date may treat the income as finishing next December. Casual relief teachers face the same issue with more paperwork. The fix is a lender that assesses the pattern of employment rather than the wording on a single page.
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.
Yes. Primary and secondary teachers are included in essential worker lending policies with several lenders, allowing a deposit as low as 5–10% plus costs with $0 LMI. Eligibility varies by lender.
Yes. Where you have a history of consecutive contracts, a number of lenders will assess the income as ongoing rather than ending at the contract date.
It can. CRT income is generally acceptable with six to twelve months of consistent history, though lenders differ considerably in how much of it they will use.
Packaged income can be added back into the assessment by lenders familiar with the arrangement. Presented poorly it is often overlooked entirely, which reduces your borrowing power for no reason.