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.
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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.
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.