Home Loans for Midwives

As a midwife, your dedication to bringing new life into the world is invaluable, yet saving for a home deposit can feel overwhelming. In 2025, home loans for midwives are more accessible than ever, thanks to LMI (Lenders Mortgage Insurance) waivers. These waivers allow eligible midwives to buy a home with a low deposit—sometimes as little as 5–10%—without the added cost of LMI, saving you $10,000 to $20,000 or more. At Professional Home Loans, we’re here to help you navigate these opportunities and secure the home you deserve.

Whether you’re working in a hospital, private practice, or rural Australia, understanding your eligibility for an LMI waiver can fast-track your journey to homeownership. Let’s explore how midwife home loans Australia can work for you in 2025.

We can also offer you the most competitive interest rates available for home loans for nurses. Enquire now to find out how much you can save.

The Criteria to Save Thousands in LMI

To achieve a special interest rate concession and save thousands in LMI you will need to;

Work as a Midwife
Professional Registration: You must be a registered midwife with the Australian Health Practitioner Regulation Agency (AHPRA).
Minimum Income: A gross annual income of at least $90,000, including base salary and regular overtime.
Have sufficient deposit for minimum 10% plus stamp duty and purchasing costs,
Stable Employment: Continuous work in midwifery for at least 12–24 months, depending on the lender.
Loan-to-Value Ratio (LVR): Loans up to 90–95% of the property value (e.g., 5–10% deposit)

These criteria reflect lenders’ recognition of midwives as low-risk borrowers due to their stable, essential roles. If you meet these standards, you could avoid LMI costs on properties up to $1 million or more, depending on the lender.

What is Lenders Mortgage Insurance?

Lender’s mortgage insurance is insurance that protects the BANK/LENDER in the event of buyer default. The easiest way to explain it is to compare it to a person insuring their car. In the event of an accident or theft the insurance company will pay out the car owner to either fix the car or buy a new car. LMI is similar in that it pays out the bank should the borrower default on the mortgage and the bank makes a loss on the sale. However, where the car owner pays the car insurance and receives the benefit, with LMI it is the borrower that pays the insurance and the bank that receives the benefit.

Do all loans require Lenders Mortgage Insurance?

No. As a general rule only loans greater than 80% LVR (‘Loan to Value Ratio’) are mortgage insured. A borrower with a 20% deposit (plus costs) would not usually be required to pay the bank’s LMI premium.

Does LMI protect the borrower?

No. LMI protects the bank in the event of default, not the borrower. Borrowers are advised to take out their own personal life and income protection insurances as protection against unforeseen circumstances.

Frequently Asked Questions

Do all midwives qualify for an LMI waiver?

Not all midwives qualify; eligibility depends on income ($90,000+), registration, and lender criteria. Casual midwives may need to demonstrate consistent earnings over 48 weeks.

Can I use government schemes with an LMI waiver?

Yes, schemes like the First Home Guarantee (5% deposit) can complement LMI waivers, subject to eligibility.

What if my income is below $90,000?

You may still qualify with a larger deposit or a guarantor, though LMI waivers are less likely. Speak to us for personalized options.

How much can I borrow with an LMI waiver?

Up to $1 million or more, depending on the lender, with a maximum LVR of 90–95%.

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Testimonials

Tom has provided us with a very professional service, communicating all the available options to us and in the process he has literally saved us $75k that we would have otherwise paid. Being new the Australian property market it was imperative we found a broker that had the patience to answer the numerous questions we had be it by phone or email and sometimes outside normal working hours and that is exactly what we got from Tom. He certainly goes beyond the call of duty. Keep up the good work, Tom and we will no doubt be back in touch with you in the not too distant future.

Hamilton & Nyari

Finally, we were able to buy our own place in Sydney. THANKS to Michael. We were given the run around by various banks (we had a unique situation and despite good income and stable one, loan wasn't coming easy). When we almost finally gave up, we had nothing to lose and made one last call and it was to Michael. Our hopes were back in two days from there, and had our loan approved with in next few days. We appreciated all the prompt and helpful responses to all of our queries in relation to purchasing with a Temporary Visa. He even made a bank valuation possible in 24 hours or so. If we ever need help again with our finance, Michael will be the first person we would call. Kindest Regards, Anjuli & Kris

Anjuli & Kris Balachandran

Tom, rest assured, when we hear of any of our acquaintances in need of a mortgage you are the one I'll be referring them to. We are very happy to have been working with you, not only because the result is good, but even more since Lisa and I really appreciated your personal touch in our case, your always being available, even for emails late at night and always taking the time to answer our every question. Kind regards, Lisa & Bas

Lisa and Bas

Why Choose Professional Home Loans

Getting a home loan was really simple with Professional Home Loans.

“We went overseas during settlement and it was not a problem for them, everything went smoothly and I’m writing this from my new home! “

Jack Clancy

– Physio

Well done you made it easy with no BS.

“Couldn’t ask for a better job – until next time (although no time soon, moving was awful). “

Accountant, Mick and Vanessa Renton

– 90% no LMI Brisbane, QLD.

No LMI for building home in Sydney as well as 90% LVR no lmi for investment proerpty off the plan in Newcastle.

“Professional Home Loans has provided us with a very professional service, communicating all the available options to us and in the process he has literally saved us $75k that we would have otherwise paid. They certainly go beyond the call of duty. “

Hamilton (Accountant) & Nyari (Doctor) Sydney

– NSW

Working for QLD Health achieved 90% LVR no LMI at normal rates - From UK. Sunshine Coast, QLD

“We were able to get a loan at a good rate and avoid paying LMI which saved us several thousand dollars that we can now put towards other things. Very helpful and informative about all aspects of the process, not just the loan, which we really appreciated as it made the whole thing a lot easier for us.”

Craig and Louise (Medical Registrars)

– Sunshine Coast QLD

On a contracting basis – she got paid roughly 70% of what she billed.

“We assisted Arlyn with a 90% Mortgage with No Lenders Mortgage Insurance payable so she could buy a house and land package Thanks so much. All credits goes back to you as you helped me make all this happen. I couldn’t thank you enough for the job excellently done. “

Arlyn (Doctor)

– Townsville QLD

“You not only got the loan approved on time, but at a better rate! You are professional, honest, dedicated & obviously love what you do-your passion shines through & I look forward to doing all my loans through you from now on!”

Linh

Home Loans For Midwives: LMI Waiver Options