How Nurses Can Buy Their First Home in 2025 (with LMI Waivers Explained)

Your step-by-step guide to turning your property dreams into reality this year

If you’re a nurse scrolling through property listings on your lunch break, dreaming about having your own place but wondering if it’s actually achievable, this article is for you.

Here’s the truth: buying your first home as a nurse in 2025 is not only possible, it’s actually more achievable than you might think. Thanks to special benefits designed specifically for healthcare professionals, you could be holding the keys to your own home sooner than you imagined.

At Swish Mortgages, we’ve guided countless nurses through their first home purchase, and we’re about to share exactly how you can do it too. Let’s break down the process, demystify the jargon, and show you the clear path from where you are now to homeownership.

Why 2025 Is a Great Year for Nurses to Buy

Before we dive into the how, let’s talk about the why now.

The Property Market in 2025

The Australian property market has stabilised after recent volatility. While prices remain high in metropolitan areas, there are genuine opportunities across Victoria, particularly in regional centres where nurses are in high demand.

Interest rates remain higher than the 2020–2021 lows and continue to fluctuate. Some lenders may be open to new borrowers, depending on their current lending policies and your individual circumstances.

Your Career Advantage

As a registered nurse in 2025, you’re in one of Australia’s most secure and in-demand professions. Unemployment in nursing is virtually non-existent, and healthcare only continues to grow. Lenders know this, and they’ve created specific products to attract healthcare professionals like you.

The LMI Waiver Advantage

This could be a key advantage. While other nurses with their first home purchase are scraping together 20% deposits or paying thousands in Lenders Mortgage Insurance, you can potentially buy with just 10% down and pay nothing in LMI. We’ll explain how this may work with some lenders in a moment.

Understanding LMI: What It Is and Why It Matters

Let’s start with the basics, because understanding LMI is crucial to appreciating the massive benefit available to you.

What Is Lenders Mortgage Insurance?

Lenders Mortgage Insurance (LMI) is a one-off premium that lenders charge when you borrow more than 80% of a property’s value. In other words, if your deposit is less than 20%, you’ll typically pay LMI.

Here’s the kicker: LMI protects the lender, not you. If you default on your nurses loan, the insurance pays out the lender. You get no benefit from it, but you pay for it.

How Much Does LMI Cost?

The cost varies based on your loan amount, deposit size and the lender’s insurer, but it can be a significant upfront cost.

Example: $500,000 property

With 10% deposit ($50,000): LMI could be $8,000 – $14,000
With 5% deposit ($25,000): LMI could be $15,000 – $20,000

Example: $600,000 property

With 10% deposit ($60,000): LMI could be $12,000 – $23,000
With 5% deposit ($30,000): LMI could be $24,000 – $32,000

For most nurse first home buyers, LMI can mean saving for longer before buying, depending on their deposit and lender options.

The Traditional Path

Traditionally, first home buyers face two options:

Save a 20% deposit to avoid LMI altogether (could take 5-10 years)
Buy with a smaller deposit and pay the LMI (adding thousands to your upfront costs)

Neither option is ideal when you’re eager to stop paying rent and start building equity.

The Nurse Advantage: LMI Waivers Explained

Now here’s where things get exciting for you.

What Is an LMI Waiver for Nurses?

An LMI waiver for nurses means that some lenders may let eligible applicants borrow up to 90 % LVR without paying LMI, depending on their policy and your situation. This means the usual LMI cost might not apply, but eligibility and conditions differ by lender.

This benefit is specifically available to registered nurses and midwives who meet certain criteria.

Why Do Lenders Offer This?

Lenders offer this because data shows healthcare professionals, particularly nurses, have:

Very low default rates on mortgages
Stable, secure employment
Reliable income growth over time
Professional registration and accountability

In the lending world, you’re considered a premium borrower. The LMI waiver is their way of competing for your business while acknowledging that you’re lower risk than the average borrower.

How Much Can You Save?

Let’s look at real numbers:

Emma’s Story: Emma, a registered nurse in Geelong, wanted to buy a $550,000 townhouse. She had saved $60,000 (just over 10%).

Without an LMI waiver: Emma would pay approximately $13,000 in LMI
With LMI waiver: Emma paid $0 in LMI

Note: The actual saving depends on the lender, insurer, and loan details.

That’s $13,000 she kept in her pocket. She used it to furnish her new home, keep a healthy emergency fund, and even put some extra money against her mortgage principal.

Who Qualifies for the LMI Waiver?

To access the LMI waiver, you typically need to:

Professional Requirements:

Be a Registered Nurse (RN) or Registered Midwife
Hold current AHPRA registration
Be actively working in nursing

Income Requirements:

Some lenders set minimum income requirements (for example, around $90,000 p.a.), while others assess each application individually.
Provide recent payslips and ATO Notice of Assessment
For casual nurses: consistent work history over 6-12 months

Loan Requirements:

Borrowing for an owner-occupied property
Maximum LVR (Loan-to-Value Ratio) of 90% (10% deposit)
Good credit history

Special Note for Hospital-Employed Nurses:

If you’re employed by a hospital (not agency or private practice), some lenders may assess your income more favourably.

LVR up to 95% (only 5% deposit needed)
Maximum LVR, income thresholds, and treatment of overtime or allowances differ widely, and a 95% LVR without LMI is uncommon and subject to strict lender criteria.

Your Step-by-Step First Home Buying Journey

Let’s break down exactly how to go from “thinking about buying” to “owning your first home” in 2025.

Step 1: Get Your Finances in Order (Weeks 1-4)

Before you start looking at properties or talking to lenders, you need to understand your financial position.

Check Your Credit Score

Access your free credit report from Equifax, Experian, or illion
Credit-score expectations vary by lender. Scores in the mid-600s and above are generally viewed more positively, but each lender has its own criteria
Dispute any errors you find
If your score is lower, spend a few months working to improve it

Review Your Spending

Track your expenses for a month to understand where your money goes
Identify areas where you can cut back and save more
Remember, lenders will review your bank statements, so start demonstrating good financial habits now

Calculate Your Savings

Add up:

Your deposit savings
First Home Owner Grant (if eligible – $10,000 in Victoria for new/substantially renovated homes)
Any family contributions or gifts

Budget for Additional Costs

Beyond your deposit, you’ll need:

Stamp duty (unless you qualify for exemptions as a first home buyer)
Conveyancing/legal fees ($1,500-$3,000)
Building and pest inspections ($500-$1,000)
Moving costs ($500-$2,000)
Initial furniture and setup ($3,000-$10,000)

Example Budget for a $500,000 Purchase:

10% deposit: $50,000
Stamp duty: $0 for eligible first-home buyers in Victoria on properties valued up to $600,000 (standard concession $600,001–$750,000).
Conveyancing: $2,000
Inspections: $800
Moving and setup: $5,000
Total needed: $57,800

If eligible for an LMI waiver, you could avoid several thousand dollars in LMI costs, depending on your loan size and lender policy.

Step 2: Understand What You Can Borrow (Week 4)

Your borrowing capacity depends on several factors:

Income Assessment

Base salary
Regular overtime and penalty rates (some lenders may include a portion or up to 100 % depending on policy and income history)
Any additional income sources

Expenses and Debts

Existing loan repayments (car loans, personal loans)
Credit card limits (even if you don’t use them)
HECS/HELP debt
Living expenses (lenders have benchmarks, but also look at your actual spending)

General Guidelines:

$90,000 annual income: Borrow approximately $450,000-$500,000
$100,000 annual income: Borrow approximately $500,000-$550,000
$120,000 annual income: Borrow approximately $600,000-$700,000

These are rough estimates. Your actual capacity depends on your complete financial picture.

Get a proper borrowing capacity assessment. At Swish Mortgages, we provide this for free and can show you exactly what you can afford with various lenders.

Step 3: Get Pre-Approval (Weeks 5-6)

Pre-approval (also called conditional approval) is crucial before you start seriously house hunting.

Why Pre-Approval Matters:

You know exactly what you can spend
Real estate agents take you seriously
You can move quickly when you find the right property
You understand your actual repayments before committing

What You’ll Need:

AHPRA registration certificate
Payslips (last 2-3 months)
ATO Notice of Assessment (most recent year)
Bank statements (3-6 months)
Employment contract or letter
Photo ID (driver’s licence and passport)
Details of any debts or financial commitments

The Process:

We submit your application to suitable lenders
Lender reviews your documents and credit history
You receive conditional approval (typically within 1-2 business days)
Approval is valid for 3-6 months (varies by lender)

Emma’s Experience: “I was nervous about applying, thinking it would be complicated. My broker at Swish had a checklist for me, I gathered everything over a weekend, and within three days, I had pre-approval for $550,000. Walking into inspections after that felt completely different. I knew I was a serious buyer.”

Step 4: Start House Hunting (Weeks 6-12+)

Now the fun part begins! With pre-approval in hand, you can start seriously looking for your first home.

Define Your Must-Haves vs. Nice-to-Haves

Must-haves might include:

Location (commute to work, proximity to family)
Number of bedrooms
Secure parking
Budget ceiling

Nice-to-haves might include:

Outdoor space
Modern kitchen
Walking distance to cafes
Storage space

Where to Look:

For nurses in Victoria, consider:

Metropolitan Melbourne suburbs: Higher prices but more amenities and job options
Outer suburbs: More affordable, growing infrastructure
Regional centres: Geelong, Ballarat, Bendigo, Shepparton, excellent value and strong nursing employment
Coastal areas: Warrnambool, Torquay, lifestyle benefits, growing healthcare facilities

Attend Inspections

Go to open homes on your days off
Take photos and detailed notes (they all blur together after a while)
Don’t be afraid to ask questions about the property
Get a feel for the neighbourhood at different times of day

Work With Real Estate Agents

Let them know you’re pre-approved
Be clear about your budget and requirements
Build relationships. They might call you about properties before they’re advertised

Stay Patient

Finding the right property can take weeks or months. Don’t settle for something that doesn’t feel right just because you’re excited to buy.

Step 5: Make an Offer (Week 12+)

You’ve found it — the property that ticks your boxes and feels like home. Now what?

Do Your Due Diligence

Order building and pest inspections (costs vary by property type and provider, often in the several-hundred-dollar range).
Review the contract of sale with your conveyancer
Check planning overlays and zoning
Research recent sales in the area to ensure the asking price is fair

Making Your Offer

You can make an offer:

At auction (competitive, higher pressure)
Through private sale negotiation (more time to consider)
Subject to conditions (finance, building inspection, pest inspection)

Tips for First-Time Buyers:

Don’t get emotionally attached before you own it
Have a maximum price in mind and stick to it
Include a finance clause (which protects you if loan approval falls through)
Include building and pest inspection clauses
Your conveyancer will help protect your interests

If Your Offer Is Accepted: Congratulations! Now the formal process begins.

Step 6: Formal Loan Approval (Weeks 13-15)

Once your offer is accepted, you move from pre-approval to formal approval.

What Happens:

We notify your lender that you’ve found a property
Lender orders a property valuation (they need to confirm it’s worth what you’re paying)
Lender reviews final documentation
Final approval is issued (some lenders may finalise within several business days once valuation and documents are complete, though processing times vary).

Valuation Concerns:

Occasionally, a property value is lower than the purchase price. If this happens:

Renegotiate with the seller
Increase your deposit to maintain the same LVR
Walk away (this is why you have a finance clause)

Property valuations can come in above, at, or below the contract price. If a shortfall occurs, options include renegotiating, contributing a higher deposit, or relying on your finance clause if applicable.

Step 7: Settlement (Weeks 16-18)

Settlement is when ownership officially transfers from the seller to you.

Your Conveyancer Handles:

Final property searches
Settlement statement preparation
Coordinating with the seller’s conveyancer
Ensuring all conditions are met
Arranging for title transfer

You Need To:

Organise home and contents insurance (mandatory before settlement)
Arrange utilities connection (electricity, gas, water, internet)
Book removalists or arrange help from friends
Do a final inspection (usually the day before settlement)
Transfer your deposit and any additional funds to your conveyancer

Settlement Day:

The lender releases the loan funds
Your conveyancer pays the seller
You receive the keys (usually from the real estate agent)
You’re officially a homeowner!

Celebration Time:

Take a moment to appreciate what you’ve achieved. You’ve bought your first home!

First Home Buyer Grants and Concessions in Victoria

As a first home buyer in Victoria, you may be eligible for additional support beyond the LMI waiver.

First Home Owner Grant (FHOG)

What it is: $10,000 grant for eligible first home buyers

Eligibility:

Purchasing or building a new home, or substantially renovating an existing home
Property value under the threshold (currently $750,000)
Must be your principal place of residence
Must move in within 12 months
You and your partner must be first home buyers

Note: This applies to new/newly built homes, not established properties.

Stamp Duty Exemptions and Concessions

Victoria offers generous stamp duty relief for first home buyers:

Full Exemption:

Properties up to $600,000: Pay $0 stamp duty
The potential saving depends on the property value and the SRO duty scale current at the time of purchase.

Partial Concession:

Properties $600,000-$750,000: Reduced stamp duty on a sliding scale

What This Means:

If you’re buying an established home for $550,000, eligible first-home buyers currently pay no duty in Victoria. Non-first-home-buyer duty varies and should be checked using the SRO calculator for the relevant date of contract.

When combined with potential LMI savings, the difference for eligible first-home buyers can amount to many thousands of dollars, depending on the lender, property price and duty rates at the time.

First Home Guarantee Scheme (Federal)

The Federal Government’s First Home Guarantee allows eligible buyers to purchase with just a 5% deposit without paying LMI.

Key Points:

5% minimum deposit required
Government guarantees the other 15% (so lenders don’t charge LMI)
Unlimited places now available (from 1 October 2025 onwards)
Updated property price caps apply — for example, $950,000 for Melbourne & Geelong, $650,000 for other VIC areas
Must be an Australian citizen or a permanent resident

Can Nurses Use Both? You may be eligible for either the nurse LMI waiver OR the First Home Guarantee, but you’d choose whichever gives you better terms. Often the nurse-specific benefits through lenders offer more flexibility, but we can compare options for your specific situation.

Common Challenges (And How to Overcome Them)

Challenge 1: “I Haven’t Saved Quite Enough Yet”

Solution:

Family gift: Many parents help with a deposit gift (you’ll need a statutory declaration confirming it’s a gift, not a loan)
Family guarantee: Parents use equity in their home as additional security
Save more strategically: Open a dedicated savings account, set up automatic transfers on payday, cut one significant expense
Consider a slightly less expensive property or a different location

Challenge 2: “I’m a Casual/Agency Nurse”

Solution: Many lenders assess casual nursing income very favourably:

Show consistent work history (6-12 months minimum)
Demonstrate regular shift patterns
Casual loading is recognised as regular income
Income calculated over 48 weeks

Working with a broker who understands healthcare employment is crucial here.

Challenge 3: “I Have HECS/HELP Debt”

Solution:

HECS/HELP debt affects your borrowing capacity, but doesn’t prevent you from buying:

Lenders factor it into their calculations (approximately 1-2% of your income goes to repayment)
It’s seen as “good debt” (education)
Your nursing income usually more than compensates

A $50,000 HECS debt might reduce your borrowing capacity by $50,000-$80,000, but you can still comfortably purchase property.

Challenge 4: “I Have Credit Card Debt”

Solution:

Pay down credit card balances before applying
Consider closing cards you don’t need
Reduce credit limits on cards you keep
Even unused credit limits affect borrowing capacity

Example: A $10,000 credit card limit (even with $0 balance) might reduce your borrowing capacity by $40,000-$50,000, because lenders assume you could max it out.

Challenge 5: “I’m Not Sure If I’ll Stay in the Area”

Solution:

Consider the investment potential of the property if you move
Look for properties in high-demand areas
Remember, you can sell and buy elsewhere (though costs are involved)
Your first home doesn’t have to be your forever home

Many nurses start with modest property and upgrade later in their careers.

Challenge 6: “The Market Seems Too Expensive”

Solution:

Look at regional centres where property is more affordable
Consider units or townhouses instead of houses
Look in developing suburbs with good infrastructure plans
Buy with a partner or friend (co-buying)
Start smaller and upgrade later

Different Scenarios: Which Path Is Right for You?

Scenario 1: The New Graduate Nurse

Profile:

Age: 23
Income: $75,000 base (doesn’t meet $90k threshold yet)
Savings: $30,000
Location: Melbourne suburbs

Strategy:

Option A: Wait 12-18 months to reach $90k income (through experience and overtime), keep saving
Option B: Use First Home Guarantee (5% deposit) to buy now with a more modest property
Option C: Buy with a partner/friend and combine incomes
Option D: Save for a 20% deposit on a smaller property (no LMI, no waiver needed)

Recommendation: Given your strong career prospects, waiting 12–18 months to strengthen your income and savings may help you qualify for more lender options, including possible professional-policy LMI waivers if eligible at the time.

Scenario 2: The Experienced RN

Profile:

Age: 28
Income: $105,000 (base + regular overtime)
Savings: $70,000
Location: Geelong

Strategy:

Access LMI waiver with 10% deposit
Can afford properties up to $650,000-$700,000
Strong borrowing position

Recommendation: You’re in an ideal position. With your income and savings, you can purchase confidently. Focus on finding the right property in your price range.

Scenario 3: The Hospital Specialist Nurse

Profile:

Age: 32
Income: $125,000 (including specialist loading and overtime)
Savings: $45,000
Location: Regional Victoria

Strategy:

Some lenders may consider higher-LVR applications (up to around 95 %) for certain professions, but these are less common and subject to strict criteria
Can afford properties up to $700,000+
100% of overtime may be assessed as income

Recommendation: Your specialist role and income level may strengthen your application, but approval still depends on the lender’s assessment and policy. Regional property prices can sometimes offer comparatively lower entry points, depending on the market.

Scenario 4: The Career Changer

Profile:

Age: 35
Income: $95,000 (newly registered nurse after career change)
Savings: $80,000 (from previous career)
Location: Melbourne inner suburbs

Strategy:

Excellent deposit savings offset a newer nursing career
Meets LMI waiver income threshold
May need to show 6-12 months of nursing employment

Recommendation: Your substantial savings put you in a strong position. Focus on demonstrating stable nursing employment, as this can strengthen your eligibility with a wider range of lenders.

Choosing the Right Property as a First-Time Buyer

Investment Potential vs. Lifestyle

Your first home should balance:

Affordability now
Suitability for your current lifestyle
Potential to sell later (don’t buy something nobody else would want)
Rental potential if you move and want to keep it

House vs. Unit/Townhouse

Houses:

Pros: Land can increase in value over time, offers more space and privacy, and avoids body corporate fees, although growth depends on market conditions.
Cons: More expensive, more maintenance, often further from the city

Units/Townhouses:

Pros: More affordable, less maintenance, often better locations, shared amenities
Cons: Body corporate fees, less privacy, potential special levies, no land component

For many first-home buyers, units or townhouses can be a more affordable entry point in metropolitan areas, depending on budget, preferences, and local market trends.

Location Considerations for Nurses

Think about:

Commute to your primary workplace
Access to multiple hospitals (job flexibility)
Public transport options (for shift work)
Growing vs. established areas
Proximity to family and friends

Regional Advantage:

Many Victorian regional centres offer:

Some Victorian regional centres may have median prices that are lower than inner-Melbourne areas
Excellent nursing opportunities
Lifestyle benefits (less traffic, community feel)
Strong rental demand from other healthcare workers

The Psychology of Buying Your First Home

Let’s talk about the emotional side, because buying your first home is a huge life step.

It’s Normal to Feel Overwhelmed

You’re making the biggest financial decision of your life so far. It’s completely normal to feel:

Excited and terrified simultaneously
Worried you’re not “ready”
Anxious about taking on debt
Concerned you’ll make the wrong choice

You Don’t Need to Be Perfect

You don’t need:

The maximum possible deposit
A perfect credit score
Zero debt
Complete certainty about your five-year plan

You just need:

Stable income (which you have)
Reasonable savings
Good-enough credit
A property that suits your current needs

Your First Home Isn’t Your Forever Home

Many first home buyers stress about finding the “perfect” property. Here’s the reality:

The average Australian lives in their first home for 7-10 years
You’ll likely upgrade or relocate during your career
It’s okay to start with something modest
Building equity in any property is better than renting indefinitely

Trust the Process

Thousands of nurses buy their first home every year. The process can work well with the right preparation, and some lenders may offer additional flexibility for eligible healthcare professionals.

Why Working with a Specialist Broker Matters

You could apply for a nurse home loan directly with a bank. So why use a broker, especially one who specialises in healthcare professionals?

We Compare Multiple Lenders

Banks can only offer their own products. We compare:

Major banks
Regional banks
Non-bank lenders
Specialist healthcare lenders

This helps you compare rates and loan features from several lenders to find an option that suits your needs.

We Understand Nursing Income

General brokers might not know:

How to present casual nursing income
That hospital nurses can have 100% of overtime assessed
Which lenders understand penalty rates and shift loading
How agency and contract nursing affects borrowing

We specialise in assisting healthcare professionals and understand how to prepare applications so they meet lender requirements and policy criteria.

We Handle the Complexity

Your time is valuable (and probably spent in 12-hour shifts). We:

Gather and organise all documentation
Liaise with lenders on your behalf
Chase up valuations and approvals
Explain everything in plain language
Support you from pre-approval through to settlement

We’re Not Paid by You

Mortgage brokers are paid by lenders when a loan settles, so our service to you is free. We’re paid by the lender on settlement, and we disclose all commissions. Our recommendations are based on your objectives and the options available at the time.

We’re Here for the Long Term

Your relationship with us doesn’t end at settlement. We’re here for:

Property refinancing in a few years if better rates emerge
Upgrading to your next property
Investment property advice
Ongoing support and questions

Your 2025 First Home Buying Checklist

Ready to take action? Here’s your complete checklist:

Immediate Actions (This Week)

[ ] Check your credit score
[ ] Calculate your current savings
[ ] Review your employment status and income
[ ] Start tracking your spending
[ ] Research suburbs/areas you’re interested in
[ ] Contact Swish Mortgages for an initial conversation

Short-Term Actions (Next 4 Weeks)

[ ] Gather your documents (AHPRA registration, payslips, tax returns)
[ ] Get a formal borrowing capacity assessment
[ ] Open a dedicated savings account if you haven’t already
[ ] Reduce or close unnecessary credit cards
[ ] Research First Home Buyer grants and concessions
[ ] Start attending open homes in your target areas

Medium-Term Actions (Next 3 Months)

[ ] Submit home loan pre-approval application
[ ] Receive conditional approval
[ ] Seriously house hunt with your pre-approval in hand
[ ] Engage a conveyancer/solicitor
[ ] Build relationships with real estate agents in your area
[ ] Continue saving as much as possible

Purchase Actions (When You Find the Right Property)

[ ] Order building and pest inspections
[ ] Make your offer (with appropriate conditions)
[ ] Submit for formal approval once the offer is accepted
[ ] Arrange building (and contents) insurance before settlement
[ ] Attend to any lender requirements
[ ] Organise utilities and services
[ ] Prepare for settlement

Settlement Actions (Final Weeks)

[ ] Final property inspection
[ ] Transfer settlement funds to the conveyancer
[ ] Confirm settlement date and time
[ ] Book removalists or arrange help
[ ] Update your address with the employer, banks, etc.
[ ] Collect keys on settlement day
[ ] Celebrate your achievement!

Real Stories: Nurses Who Bought in 2024-2025

Sarah, 26, Emergency Nurse, Ballarat

“I thought I’d be renting forever. As a single income, saving while paying rent in Melbourne seemed impossible. Then I looked at Ballarat. Still close enough to visit family, but the property was so much more affordable. My broker explained the LMI waiver, and suddenly I realised I could actually buy. I found a beautiful two-bedroom unit for $420,000, and with my $45,000 deposit, I was approved. No LMI saved me about $9,000. I moved in six months ago, and my mortgage repayments are less than my Melbourne rent was. Best decision I ever made.”

James, 31, ICU Nurse, Geelong

“I’d been working in an agency for years, which I loved for the flexibility. But I assumed that meant I couldn’t get a home loan. My broker at Swish showed me that my consistent agency income over three years actually looked great to lenders. We applied, I got approved for $580,000, and bought a three-bedroom house in Geelong West. The LMI waiver saved me about $14,000. My partner and I moved in last year, and we’re already building equity.”

Priya, 28, Nurse Practitioner, Melbourne

“As a nurse practitioner, my income was solid ($115,000), but I still didn’t have a huge deposit saved. I had about $55,000, which was only 10% of the $550,000 properties I was looking at. The hospital-employed nurse benefit meant I qualified for 95% LVR with no minimum income requirement. I ended up buying with 10% down, avoided about $12,000 in LMI, and I’m so glad I didn’t wait another two years to save more. Property prices went up more than I would have saved.”

Common Mistakes to Avoid

Mistake 1: Waiting for the “Perfect” Time

The perfect time doesn’t exist. Interest rates, property prices, and your personal circumstances will always be in flux. If you’re financially ready and find a suitable property, that’s your time.

Mistake 2: Maximising Your Borrowing Capacity

Just because you can borrow $650,000 doesn’t mean you should. Leave yourself a buffer for life’s unexpected expenses, future rate rises, and potential changes in circumstances.

Mistake 3: Skipping Building and Pest Inspections

Avoid skipping inspections to save a few hundred dollars. Repair costs for hidden structural issues can be significant. Independent inspections are strongly recommended before you commit.

Mistake 4: Not Reading the Contract

Your conveyancer will review it, but you should read and understand the contract of sale yourself. Ask questions if anything is unclear.

Mistake 5: Emotional Decisions

Don’t fall in love with a property before you own it. Stay objective during negotiations, and be prepared to walk away if the deal isn’t right.

Mistake 6: Ignoring Total Ownership Costs

Your mortgage repayment isn’t your only cost. Budget for:

Council rates
Water rates
Body corporate fees (if applicable)
Insurance (building and contents)
Maintenance and repairs
Utilities

It’s sensible to allow a monthly buffer for ownership costs such as rates, insurance, and maintenance. The amount will vary depending on the property type, location, and your circumstances.

Mistake 7: Not Getting Professional Help

Trying to navigate the home buying process alone can lead to costly mistakes. Brokers, conveyancers, and building inspectors aren’t expenses. They’re investments in protecting your biggest purchase.

Your Next Step: Take Action Today

You’ve just read everything you need to know about buying your first home as a nurse in 2025. Now it’s time to move from reading to doing.

The difference between nurses who own their homes and those who keep renting isn’t usually financial capacity. It’s taking action.

Here’s What Happens Next

Book Your Free Consultation: We’ll have a no-pressure conversation about your situation, answer your questions, and give you a clear picture of what’s possible for you.
Get Your Personalised Strategy: Based on your income, savings, and goals, we’ll create a specific plan for your first home purchase.
Start Your Pre-Approval: With your documents ready, we’ll submit your application to the most suitable lenders and get you conditional approval.
Find Your Home: With pre-approval in hand, you’ll shop for properties confidently, knowing exactly what you can afford.
Settle Into Your New Home: Within 8-16 weeks, you could be unpacking boxes in your own place, building equity instead of paying someone else’s mortgage.

You’ve Got This

Buying your first home might feel like a mountain to climb right now, but remember: you became a registered nurse. You studied for years, passed demanding exams, completed stressful placements, and now you care for people in their most vulnerable moments.

If you can do that, you can absolutely navigate the home buying process.

The LMI waiver is your professional advantage. It’s a tangible recognition of the stability, dedication, and responsibility you demonstrate every single shift. It’s designed specifically to help nurses like you own homes sooner.

2025 could be the year you stop dreaming about homeownership and start living it.

The question isn’t whether you can do this. The question is: are you ready to take the first step?

Contact Swish Mortgages Today

Let’s turn your first home dreams into reality.

We specialise in helping Victorian nurses navigate the path to homeownership. We understand your income structure, your shift work lifestyle, and the specific benefits available to healthcare professionals.

Your free consultation includes:

Complete borrowing capacity assessment
LMI waiver eligibility confirmation
Comparison of multiple lender options
Personalised strategy for your circumstances
Answers to all your questions in plain language

No obligation. No pressure. Just clear guidance from someone who genuinely understands nurses.

Your first home is waiting. Let’s find it together.

Disclaimer: This is general information only and does not take your objectives, financial situation or needs into account. It is not financial or credit advice. Lender policies, product features and eligibility criteria can change without notice. You should consider seeking independent financial, legal, tax, or credit advice from a licensed professional or mortgage broker before making any decisions.