Can Nurses Really Buy their First Home with Just a 5% Deposit (or as Low as $30,000)?

Can Nurses Really Buy their First Home with Just a 5% Deposit (or as Low as $30,000)?

As a mortgage broker working with nurses across Australia, I’m often asked:

“Is it really possible to buy your first home with just a 5% deposit?”

The short answer: Yes, it is.

And for many nurses in 2025, now is the perfect time to explore your options.

Why 2025 is a Great Year for Nurses to Buy

This year, the government has expanded key home loan support schemes like the First Home Guarantee, designed to make it easier for essential workers to step into the property market.

Here’s what’s changed:

  • Buy with as little as 5% deposit (as low as $30,000 depending on the property)
  • No Lenders Mortgage Insurance (LMI) for eligible nurses
  • Income cap $120,000 for a single and $200,000 for a couple so more nurses now qualify
  • Higher property price limits to match the real market

And just this month, the RBA cut interest rates for the second time in three months, reducing the cash rate by 0.25%. That means better loan conditions and greater borrowing potential for many buyers.

 

A Real Scenario: Emily, 29

Emily, a 29-year-old registered nurse earning $85,000 a year,
had saved $32,000 over several years while renting in Sydney. 
She assumed she'd need at least $100,000 to buy.

After speaking with us, she discovered she was eligible for the
First Home Guarantee and could buy with just a 5% deposit.

Property price: $580,000
Deposit needed: $29,000
Stamp duty: $0 (first home buyer exemption)
LMI: Waived under scheme
Total upfront costs: Approx. $31,000

Emily now owns her first home and kept thousands in
savings that would have gone to LMI, instead she
can buy the furniture she really like.

 

Why Nurses Are in a Strong Position

Lenders are increasingly supportive of nurses and healthcare professionals because of their:

  • Stable, in-demand employment
  • Reliable income, including overtime and shift penalties
  • Flexibility to work in regional or metro areas
  • We also offer a 90% no LMI for nurses who are purchasing an investment property or who are not buying their first home i.e. upgrading. Some conditions apply

As brokers, we work with lenders who understand how nurse income works, including casual and shift-based roles.

Helpful Tools to Get Started

Final Thought

You might be closer to buying your first home than you think.

Between low-deposit schemes, nurse-specific lender support, and the latest RBA rate cut, 2025 is shaping up to be an ideal time to step into the market.

Let’s talk about your options. Even if you’re just starting the journey, a quick conversation can set you on the right path.

Book your free chat today