Construction Loans for Nurses & Healthcare Workers
By Glenn Quisay, Director & Founder — Swish Mortgages (Melbourne)
Build with confidence. We’ll do the heavy lifting.
Building a home is exciting — and a little daunting — especially when you’re juggling shifts, overtime, on-call work or placements. At Swish, we specialise in helping nurses and healthcare professionals secure smart, affordable construction finance without the fuss. You focus on patients; we’ll handle the paperwork, bank jargon and builder payments.
Why healthcare clients choose Swish
Empathetic, expert guidance
You’ll get clear, honest advice in plain English. No hard sell. No surprises. Just a step-by-step plan that makes sense from pre-approval to handover.
Medical-friendly lending know-how
We understand rosters, allowances and agency income. We know how lenders treat overtime, penalties, loadings, locum/contract income, salary packaging and HECS-HELP — and how to present it so you’re fairly assessed.
Progress payments managed for you
We coordinate each drawdown with your lender and builder (with your say-so), so invoices are paid promptly and your build isn’t held up.
Cash-flow conscious structuring
Most lenders offer interest-only during construction. We’ll structure your loan and offset account to help keep repayments manageable while you’re paying rent or a current mortgage.
Panel of 40+ lenders
From major banks to medical-aware lenders. If one says no, we’ll have others ready to assess — quickly.
Get Your Free Assessment
What is a construction loan?
A construction loan releases funds in stages as your builder completes the work. You’re generally charged interest only on the funds you’ve drawn, which helps with cash flow while the home is being built.
Typical stages:
- Deposit (builder admin, preliminaries)
- Base/Slab
- Frame
- Lock-up/Enclosed
- Fixing/Fit-out
- Practical Completion/Handover
We’ll check your contract so stage percentages and timing meet lender guidelines — avoiding delays and rework.
Finance For Nurses
Start here for an overview of lending options tailored for nurses, midwives and healthcare professionals.
Other Loans
Explore loan options designed for nurses, midwives and healthcare professionals. We understand overtime, shift penalties and salary packaging — and we know which lenders value them.
First Home Buyer Loans
Access nurse-only low-deposit pathways, potential LMI waivers, and guidance through grants and schemes.
See First Home Options →Second Mortgage Loans
Tap a secondary facility for short-term cash flow, bridging, or project funds—structured to minimise risk.
Explore Second Mortgages →Investment Property Loans
Build your portfolio with policies that respect essential service income and smart structures for cash flow.
Investor Loan Options →Refinance Loan
Lower your rate, simplify debts and keep the features that suit your roster—without the paperwork grind.
Refinance & Save →Equity Loans
Use built-up equity for renovations, investing or a safety buffer—set up with clear purpose-based splits.
Use Your Equity →Trust Loans
Entity-friendly lending with documentation and structure for asset protection and future flexibility.
Trust & Company Lending →SMSF Loans
Specialist LRBA guidance with accountant coordination and lender policy alignment for smooth execution.
SMSF Lending →Self-Employed Loans
Options for contractors, ABN holders and practice owners—alternate docs and policy wins where it counts.
Self-Employed Options →Land & construction made simple
Whether you’re doing a house-and-land package, a knock-down rebuild or a major renovation, we’ll help you:
- Choose between one contract or split land + build loans
- Align valuation with your plans and inclusions (so the numbers “stack up”)
- Decide on variable vs fixed and P&I vs interest-only timing
- Set up an offset account to reduce interest while you build
- Map a realistic contingency for variations and upgrades
How we present your income
Healthcare incomes don’t always fit a neat box. We’ll package your application so the right policy is used:
- PAYG + overtime/penalties: Use acceptable historical averages to maximise borrowing power.
- Casual/agency/locum: Evidence consistency and continuity to avoid unnecessary shading.
- On-call, rural loading, allowances: Identify which components lenders will include.
- Second job/ABN income: Separate and season correctly to keep servicing neat.
- Salary packaging/novated lease: Show true net position so you’re not penalised twice.
- Parental leave / returning to work: Work with letters of offer and roster confirmations.
You’ll get a preliminary assessment showing borrowing capacity, repayments at different rates, fees, stage cash flow and a clean list of exactly what to upload.
Our 6-step process (zero overwhelm)
What you’ll need to apply
- ID: Driver licence, passport, Medicare card (or alternatives).
- Income: Recent payslips, PAYG summaries; evidence of regular overtime/allowances; for agency/locum — contracts and 6–12 months of income history.
- Financial position: Statements for loans, credit cards, HECs-HELP, novated lease; savings and offsets.
- Build pack from your builder:
- Fixed-price HIA/MBA contract
- Plans & specifications (inclusions matter for valuation)
- Stage schedule and insurance (e.g., Home Warranty where applicable)
- Builder’s licence and public liability details
If you don’t have the full pack yet, that’s fine — we’ll tell you exactly what to request from the builder.
Smart structuring tips for healthcare professionals
- Budget for a double-housing period. If you’re renting or holding your current mortgage, interest-only during construction can ease the pinch.
- Keep a contingency (typically 5–10%). Upgrades and variations happen; planning for them avoids last-minute stress.
- Don’t sign blind. Run the contract by us before you commit — we’ll check stage percentages, PC sums and finance clauses.
- Protect your buffer. Put savings in an offset as soon as the account’s open; every dollar reduces interest from day one.
- Think future-proof. If you plan study, parental leave or a switch to part-time, we can structure for flexibility now.
We compare 40+ lenders for construction loans
Including ANZ, Westpac, NAB, CBA, ING, Macquarie, and more — with construction-friendly policies and stage-payment processes.
Frequently asked questions
As little as 5–10% may be possible depending on your profile and lender policy. Many clients aim for 20% to avoid LMI. We’ll show options side-by-side so you can choose what’s right for you.
Often yes. Lenders may average 3–12 months of income and look for continuity. We’ll position your payslips and rosters to your best advantage.
Through progress payments at each stage. We coordinate with the lender and your builder once you’ve approved the claim.
No. You generally pay interest only on drawn funds during construction. Full principal & interest usually starts after handover (or sooner if you prefer).
We can challenge with evidence, adjust inclusions, or pivot to a lender with a more suitable policy. We won’t leave you stuck.
Potentially, yes. We’ll run scenarios for bridging finance vs retain & rent vs sell then build and show the repayments, buffers and risks for each.
What our clients say
“Clear, calm and on our side the whole way. Payments were handled quickly and we never felt in the dark.” — Emergency nurse, Point Cook
“Shift work, agency income, novated lease — Glenn still got it done and kept repayments comfortable during the build.” — Theatre nurse, Werribee
(Ask us for more reviews — we’re proud of our 5-star feedback.)
About Our Founder — Glenn Quisay
Glenn is a Melbourne-based mortgage broker and the founder of Swish Mortgages. Before starting Swish, he spent six years at NAB across lending, equipment finance and business banking, achieving $18.8m in drawdowns and multiple Banker of the Month awards. With finance qualifications, an MFAA accreditation and a business degree from Victoria University, Glenn is known for making complex lending simple, transparent and stress-free — especially for nurses and healthcare professionals.
General information only. This is not financial advice. Lending criteria, fees and charges apply. Speak with us for tailored guidance to your circumstances.