Home loans for teachers
A small group of lenders waive mortgage insurance for teachers. Contract and relief work needs the right lender.
Lenders that waive LMI for teachers
Some lenders include registered teachers, and a few include early childhood teachers, in their waiver programs. Expect a minimum income and limits on property location. Proof is your current teacher registration and payslips.
Fixed-term contracts and relief teaching
Many Tasmanian teachers start on fixed-term contracts. Some lenders decline anything but permanent work. Others accept a contract with a history of renewals, or relief teaching income averaged over a year. We send your application where your employment type is accepted, so it is not declined on a technicality.
If a waiver doesn’t fit
First home buyers may do better under the 5% Deposit Scheme or MyHome, and a family guarantee is another route. We compare all of them side by side.
Lender policies change through the year and each lender keeps its own list of professions, income floors and locations. Use this page to decide whether it is worth asking, then let us check the current rules for you. All lending is subject to the lender’s credit criteria.
Questions people ask
Does it matter whether I teach in a state or independent school?
Generally not. Lenders look at registration, income and employment type.
Are teacher aides and support staff covered?
Rarely under a waiver, but standard low deposit options may still suit.
General information, last updated November 2026. Scheme figures, lender policies and duty rates change, so confirm them before you rely on them.
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