Home Loans For Teachers With No LMI, Special Rates & Cash Back Offers!

We are specialist mortgage brokers for educators, helping you get the best deal on your home loans

How Do I Qualify?

There is only 1 condition you need to meet to qualify for exclusive rates and cash back offers:

You are currently employed as an educator

Why go directly to a single bank when you can go to mortgage brokers who specialises in home loans for teachers & educators? With access to over 50 banks, we help you find the best deal on the market whether you are a first home buyer or a seasoned investor.

Looking to Buy or Refinance? Get a Free Assessment

Complete this form and we’ll be in touch for a no-obligation chat, followed by a free assessment. No impact on your credit report.

Why Choose Us For Your Home Loan

Expertise Across the Education Sector

At Zenith, we specialise in helping all types of educators, including school teachers, early childhood educators, vocational trainers, and university staff. We understand the education profession is diverse, with varying employment types, pay structures, and responsibilities outside standard classroom hours. Our team knows how to present your unique work situation to lenders in a way that strengthens your application.

Early Childhood Educators

Many early childhood educators work in centres with varying shifts, part-time hours, or casual contracts. Some lenders struggle to recognise this as stable employment. We know how to present your role to show long-term reliability and ensure that income from allowances, split shifts, and additional duties is fully considered.

Primary and Secondary Teachers

If you work in a school, you may have temporary or fixed-term contracts, or even work as a casual relief teacher. These roles can sometimes make it harder to get loan approval. We know how to demonstrate your employment consistency across different schools or contracts, and we ensure that allowances for leadership, yard duty, and extracurricular activities are properly factored in to boost your borrowing power.

Vocational and University Staff

Working in TAFE, vocational training, or university can often involve contract roles, research positions, or fluctuating teaching loads. Lenders may misinterpret this as unstable income. We know how to present your work pattern to highlight ongoing employment, and we can help ensure that income from multiple sources, including tutoring and project work, is properly included.

Income From Allowances, Overtime, and Holiday Loading

Across all education roles, additional income such as leadership allowances, extracurricular payments, or holiday loading can significantly impact your borrowing power. Many lenders either overlook these or apply strict reductions. We know how to maximise the recognition of these extra earnings to strengthen your application.

Access to Teacher-Friendly Lending Options

We have strong relationships with lenders who offer tailored deals for educators, including lower deposit requirements, discounted LMI, and competitive interest rates. We’ll help you find the best loan options available to you.

Ongoing Support for Life

We proactively review your home loan every six months to ensure you always have a competitive rate. This happens automatically in the background with no action required from you. You can trust that your home loan is in good hands and always working for you.

Our Proven Process

Discovery

We discuss your situation, the goals you're wanting to achieve, and assess how we're able to help you.

Assessment

We review your documents, research solutions, and present the best options to you. Once you agree to proceed, we prepare your loan application.

Lodgement

We lodge your loan application and monitor its progress. Once approved, we assist with reviewing and signing your loan contracts.

Support

Once your loan has settled, you join the Zenith family! We provide ongoing support and review your loan to match your changing needs.

What Other Teachers Say About Us

First Home Buyer? We’ll Help Finance Your Home

With over 1000+ loans approved and with access to over 50 different lenders, our brokers can help you pick the best home loan to maximise your options. From choosing the lender that works with you or leverages government incentives and tax concessions, you can make well-informed decisions when financing your first home purchase. We are here to guide you and hold your hand throughout the entire process.

How Much Deposit Do I Need?

Traditionally most banks require a minimum of 20% deposit for you to avoid the need to pay Lenders Mortgage Insurance (LMI). As a first home buyer you may be able to put down as little as 2-5% deposit and avoid paying LMI by utilising home guarantee schemes.

In addition, you can further reduce the amount of funds required for your first home purchase through various state specific schemes and grants. Your eligibility depends on the property location, property price and type of property, so it is important to speak to one of our mortgage brokers to understand what schemes may be applicable to you.

First Home Guarantee (FHBG)

The First Home Guarantee is a government-backed initiative designed to help eligible first-time homebuyers step onto the property ladder with ease. The FHBG allows you to secure your first home with just a 5% deposit, without the added cost of LMI. This means you can buy sooner and with less upfront deposit.

Family Home Guarantee (FHG)

The Family Home Guarantee is designed to assist single parents with at least one dependent child in buying a home with a deposit as low as just 2%. Available for both new and existing homes across Australia, the scheme makes homeownership more accessible for those who need it most.

Regional Home Guarantee (RFHBG)

The Regional Home Guarantee is an initiative aimed at making homeownership more accessible in regional areas. It allows eligible buyers to purchase a new or existing home in regional locations with just a 5% deposit. This scheme is open to both first home buyers and those who have previously owned a property but are currently without one.

Stamp Duty Exemptions

Stamp duty, also known as transfer duty, is a one-time tax applied when you purchase a property.

The amount of stamp duty depends on the property’s value. Each state in Australia has its own stamp duty concessions and eligibility requirements.

First Home Super Saver Scheme (FHSSS)

The First Home Super Saver Scheme allows you to withdraw voluntary contributions from your superannuation to use for your home deposit, provided you meet the eligibility criteria. You can apply to release up to $15,000 from one financial year, with a maximum of $50,000 across all years.

Get a home loan with full guidance and expert assistance

Schedule a consultation with one of our home loan experts

What is Lenders’ Mortgage Insurance (LMI)?

Lenders Mortgage Insurance is required by lenders when a borrower provides a deposit of less than 20% of the property’s value.

Purpose: LMI protects the lender if the borrower defaults on the loan and the sale of the property doesn’t cover the outstanding loan balance.
When Required: This insurance is usually mandated when the loan amount exceeds 80% of the property’s value.
Cost: The cost of LMI varies depending on the loan amount, property value, and deposit size. It can be paid as a lump sum at settlement or added to the loan amount, increasing the total interest paid.
Benefits: LMI allows borrowers to purchase a property sooner by lowering the deposit requirement.

What documents do I need to show?

Essential documents that you need to prepare when applying for a home loan include:

Identification (licence, passport and Medicare etc.)
Latest credit card and bank statements
Latest two consecutive payslips for PAYG applicants
Latest statement of assets and/or liabilities
Income tax returns for the last 2 years (for self-employed individuals)
Notice of Assessment & Financial Statements (self-employed individuals)

What is my borrowing capacity?

Lenders will assess your financial position to ensure that you can comfortably manage the loan repayments. Every lender’s formula for calculating borrowing power may be slightly different. Usually, they’ll take the following into consideration:

Your income, which can include bonuses, commissions and overtime
The number of dependents in your family
The secured and unsecured debts you hold (e.g. credit cards, personal loans or car loans)
Your living expenses

What should I know as a first home buyer?

As a first home buyer, there are several key things you should know to make the process smoother and more successful:

Budgeting: Understand your financial situation and set a realistic budget. This includes your income, expenses, and savings.
Government Incentives: Research available grants and incentives for first home buyers, such as the First Home Guarantee and stamp duty concessions.
Loan Pre-Approval: Getting pre-approved for a home loan can give you a clear idea of your borrowing capacity and show sellers that you are a serious buyer.
Credit Score: Maintain a good credit score by making repayments on time. This can improve your chances of loan approval.
Research: Familiarise yourself with the local property market, including property prices, trends, and areas of interest. Contact us to obtain a free property report.
Professional Advice: Consider seeking advice from a mortgage broker, financial advisor, or real estate agent to guide you through the process.
Property Inspection: Always have a professional inspection done on the property to identify any potential issues.
Legal and Financial Checks: Ensure all legal and financial checks are completed before finalising the purchase.

We can get you in touch with our trusted accountants, financial advisors, conveyancers and building inspectors.

Get started with your first home loan

Zenith is the #1 mortgage broker for nurses and first home buyers in Australia. We are a team of mortgage brokers with decades of lending experience. We love learning about your ambitions and goals and are passionate about arranging the finances to help you make them a reality.

We are here to simplify the whole mortgage process for you. We do all the heavy lifting to match you with the right mortgage solutions. If finance is not quite possible for you yet, we will be upfront and honest, providing you with tailored advice to help set you on the right track.

Some of Our Lenders

Teacher Case Studies

Client Profile:

An early childhood teacher working at a long day care centre in Brisbane, earning $72,000 annually. She was a first home buyer and have been working full-time for over 4 years.

The Challenge:

She did not qualify for the First Home Guarantee Scheme due to her individual circumstances, which meant she expected to need a large deposit or pay lenders mortgage insurance (LMI). Her bank told her she would need to pay over $15,000 in LMI to borrow 90% of the property value.

Our Strategy:

Identified a lender offering up to 90% LVR with no LMI for teachers, even without using the First Home Guarantee Scheme
Prepared a solid application using her employment contract, payslips, and bank statements to highlight her stable income and consistent hours

The Result:

She was approved to borrow up to 90% of the property value with no LMI
Received a competitive interest rate with no extra loading for low deposit
Pre-approved within 4 business days, allowing her to make offers quickly with confidence

Conclusion:

Even though she missed out on the First Home Guarantee Scheme, we helped her secure a high LVR loan with no LMI through our specialist lender relationships. When it comes to helping early childhood educators buy their first home, we know the pathways that others might miss.

Client Profile:

A primary school teacher with 5 years of experience, working at a Sydney public school earning $105,000 annually. Her income included base pay, leadership allowances, and regular after-school tutoring.

The Challenge:

Her bank told her she could only borrow $540,000, which wasn’t enough to purchase in her preferred area. The bank had excluded all her allowances and tutoring income, even though these were consistent and a regular part of her earnings.

Our Strategy:

Used a 6-month income history to demonstrate consistent leadership allowances and after-school tutoring income
Compiled a strong application with employment letters, payslips, and bank statements to prove income stability and reliability

The Result:

Increased her borrowing capacity to $645,000 by ensuring 100% of her income was fully considered
Secured a pre-approval within 5 business days
Accessed a competitive interest rate and a lender cashback offer

Conclusion:

She was able to confidently purchase the home she wanted. Our expertise in supporting teachers and understanding education income structures made all the difference. When it comes to helping educators buy property, we know how to get it done.

The Zenith Difference

		Banks	Other Mortgage Brokers
Proactively reprice your interest rate multiple times per year
Access to over 50 different lenders
Access to over 1000 different loan products
Liaise with solicitors to manage settlement
Free detailed property reports to assist with property purchases
100+ 5-star Google reviews
Services are free of charge
Advice on how to save on interest costs and pay down loans earlier
Manage the whole loan application process from start to end
Available 7 days a week, Australia-wide
Have priority status with banks for quicker outcomes
Calculations of required funds for purchases
Highly experienced team providing expert guidance and advice

Prefer A Scheduled Call?

Frequently Asked Questions

Why should I use a mortgage broker?

Partnering with a mortgage broker like Zenith can significantly streamline your home loan journey. We provide expert advice on loan products carefully tailored to your unique financial situation. By handling the legwork, comparing multiple options, managing paperwork, and negotiating better terms, we save you valuable time and help identify potential hidden fees. As we are not tied to any single lender, we can select the best loan for your needs, ensuring you secure the most suitable deal. Additionally, we proactively review your interest rate multiple times per year to ensure you remain on the most competitive rate available, maximising your savings and giving you long-term peace of mind.

How much do you charge for your services?

Our services are provided at no cost to you. We receive compensation directly from the lender you choose once your loan is settled, ensuring that you can explore your options without incurring any upfront fees.

Am I eligible to get a loan?

Each lender has unique criteria and requirements that must be met before they approve a loan. Our team takes the time to thoroughly analyse your credit history, income situation, and the specific strengths and weaknesses of your financial circumstances. This allows us to match you with the most suitable lender and loan package tailored to your needs. Our experienced professionals will provide you with comprehensive information, ensuring you have everything necessary to make an informed decision.

How long does it take to get an approval?

To begin, we’ll work closely with you to understand your goals and objectives. We’ll then gather and review all necessary supporting documents to ensure we have a comprehensive understanding of your situation. Once we have sufficient information to make a personalised recommendation, the next step will depend on the chosen lender’s processing timeline. This can vary from several weeks to a few months, which is why we strongly advise initiating the process as early as possible, especially when it comes to property purchases, where timing can be crucial.

What is the best rate I can get?

You may not always qualify for financing from a specific bank. After assessing your unique situation, we’ll work to find you the lowest possible interest rate from eligible lenders. While interest rates are important, they’re just one piece of the puzzle. We’ll also help you consider all other fees and features associated with each loan option, ensuring you have a complete understanding of your choices and can make an informed decision that best suits your needs.

What is the minimum deposit required for a home loan?

Typically, lenders require a minimum deposit of 5% of the property’s purchase price to secure a home loan. However, in some cases, it may be possible to proceed with a lower deposit. Keep in mind that if your deposit is less than 20% of the property’s price, you may need to pay Lenders Mortgage Insurance (LMI), unless you qualify for an LMI waiver or apply for a family guarantee. Contact us to explore your options and determine the best approach for your situation.

We have successfully helped thousands of teachers