SOLUTIONS / FIRST HOME BUYERS
First Home Buyer Loans For Professionals
Buying your first home as a professional can involve more than just saving a deposit. We help review borrowing capacity, HECS, deposit options, LMI, purchase costs, grants and lender policy.
Key Takeaway
First home buyers need to understand borrowing capacity, deposit requirements, HECS impact, LMI and total purchase costs before making offers. The right preparation makes the process significantly smoother.
This Page Is For
✓ Professionals buying their first home and wanting to understand total costs
✓ First home buyers with HECS wanting to understand the borrowing capacity impact
✓ Buyers with less than a 20% deposit reviewing LMI and government scheme options
✓ First home buyers comparing how different lenders assess their income type
What To Prepare Before Speaking With Us
→ Income details — base salary, overtime, HECS if applicable
→ Deposit amount saved
→ Estimated property price range and target suburb
→ HECS/HELP balance from ATO online
→ Details of any existing debts, credit cards or personal loans
Last reviewed: June 2026. Government scheme rules, income caps and property value limits vary by state and change regularly. Rules and lender policies can change. Confirm current eligibility before making a decision.
Related:
First Home Buyer Options For Professionals
For professionals, buying a first home often involves more than getting the lowest advertised rate. Lenders may assess income, HECS, overtime, bonuses, employment type and deposit strength differently. The right lender choice can affect borrowing capacity, LMI costs and approval pathway.
What We Review Before You Buy
✓ Borrowing capacity
✓ Deposit position
✓ HECS debt
✓ Income type
✓ Employment stability
✓ LMI estimate
✓ Potential LMI waiver eligibility
✓ Stamp duty and purchase costs
✓ Government scheme suitability
✓ Loan structure
✓ Repayment comfort
Deposit And LMI Options
Deposit requirements, LMI costs and waiver eligibility depend on lender policy, profession, loan size, property type and individual circumstances.
5% deposit
A smaller deposit may be possible with LMI or a government scheme, subject to eligibility, lender policy and income assessment
10% deposit
A 10% deposit reduces LMI exposure. Some professional LMI waiver policies may apply at this level depending on lender and profession.
20% deposit
A 20% deposit or higher generally avoids standard LMI requirements, subject to lender policy and assessment.
LMI waiver
Eligible professionals may qualify to borrow above 80% LVR without standard LMI, subject to lender policy, profession, income and registration.
Government schemes, grants and stamp duty concessions vary by state, eligibility and date. We recommend confirming current eligibility at time of application.
HECS And Borrowing Power
HECS can reduce borrowing capacity because lenders may include compulsory repayments when assessing serviceability. The impact varies by income level and lender policy. This is especially relevant for nurses, doctors, dentists, lawyers and accountants early in their career.
Doctors & Medical Specialists
Estimate your borrowing capacity including HECS impact
Nurse Lending
HECS, overtime and first home buyer options for nurses
Doctor Lending
Registrar income, LMI waivers and first home options
First Home Buyers By Profession
LMI waiver eligibility varies by lender. The following professions may qualify under certain policies, subject to income, registration and full lender assessment.
🏥 Nurses
Nurses may need overtime, shift loading, casual income and HECS reviewed carefully.
⚕️ Doctors
Doctors may need a lender that understands registrar income, future income and medical professional policy.
🦷 Dentists
Dentists may need lenders that assess early career income, private work or future practice ownership.
⚖️ Lawyers
Lawyers may need lenders that assess bonus income, graduate income progression and professional policies.
📊 Accountants
Accountants may need lenders that understand PAYG, self-employed and future investment goals.
Useful Calculators
Use these calculators to estimate costs before speaking with a lending specialist.
Borrowing Power Calculator
Estimate how much you may be able to borrow based on income, expenses and HECS.
Stamp Duty Calculator
Estimate stamp duty costs across Australian states before purchasing.
LMI Calculator
Estimate LMI costs and check whether your profession may qualify for a waiver.
Related Resources
Free Guide
Download The Professional Lending Guide
A practical guide to understanding lender policy, borrowing capacity, LMI and income assessment for professionals.
Frequently Asked Questions
How much deposit do first home buyers need?
Deposit requirements vary by lender, property type, loan size and whether LMI or a waiver applies.
Does HECS affect borrowing power?
Yes. HECS can reduce borrowing capacity because lenders generally include compulsory repayments in serviceability.
Can first home buyers avoid LMI?
Some eligible professionals may qualify for LMI waiver options, subject to lender policy and assessment.
Should I get pre-approved before looking?
Pre-approval can help clarify budget and lender options before making offers. Note that pre-approval is conditional and not a guarantee of final approval.
What costs should first home buyers budget for?
Deposit, stamp duty, legal costs, inspections, lender fees, moving costs and potential LMI should all be considered.
Last reviewed: June 2026. Last reviewed: June 2026. Government scheme eligibility rules, income caps and property value thresholds vary by state and change regularly. Confirm current details at housing.gov.au or with the relevant state authority.
Buying Your First Home?
Book a first home buyer strategy session and we’ll review your deposit, borrowing capacity, HECS, LMI position and lender options.
General information only. Lending eligibility, LVRs, LMI, rates and approval outcomes vary by lender and are subject to assessment. Government schemes and grants vary by state and eligibility.