Home loans for teachers
Quantum Finance arranges home loans for teachers in Perth, whether you are permanent, on contract or doing relief work. We check which of 40+ lenders would lend on your pay, and whether one would waive lenders mortgage insurance. That is the insurance you normally pay when you have saved less than twenty per cent.
- We check whether any lender would waive the insurance for a teacher in your position.
- We read permanent, contract and relief teaching income the way each lender will.
- We compare 40+ lenders, because each one keeps its own rules for teachers.
- Subject to lender approval and your circumstances.
- Years broking
- 21+Years broking
- Loans settled
- $1B+Loans settled
- Credit licence
- ACL 389083Credit licence
- Lenders compared
- 40+Lenders compared
Our awards and recognition
Awarded by the people who see every broker’s numbers
Diamond Club
2026
Money Quest Group
Diamond Club
2025
Money Quest Group
Diamond Club
2024
Money Quest Group
Mortgage Broker of the Year
2023/24, National, highest dollar volume settled
Southern Cross Broker Network
Excellence in Finance, Gold
2021
PLAN Australia
Excellence in Finance, Gold
2020
PLAN Australia
Hall of Fame
Valued partner, 15 years
PLAN Australia
Elite Broker
2021
Broker Value Proposition
Premium Broker
ANZ
Individual Excellence Award
2016
Specialist Finance Group
Sales Excellence Award
PLAN Australia
Sales Master Award
PLAN Australia
Top 100 Brokers
Four times
Australian Broker
What we do for teachers
The work we do before a lender sees your applicationA home loan for teachers is a standard home loan, sometimes written under a lender's policy that waives the insurance for teachers. The work is reading your contract, relief work and allowances the way each lender will, then comparing the whole loan.
On most home loans the lender pays us a commission, so you usually pay us nothing. Where a fee would apply, we tell you before you apply, in writing.
Sometimes no lender will waive the insurance for you. We say so early, then compare our whole panel, the 40+ lenders we can apply to, on their normal terms.
We check whether an insurance waiver applies to you
Some lenders waive lenders mortgage insurance for teachers, commonly up to 85 per cent of the property's value and at some lenders 90. We check your position against the panel and tell you plainly when no waiver fits.
We read your contract the way a lender will
Lenders look at how long is left on a fixed-term contract and whether you have had others back to back. We put that history in front of the lender clearly, so a contract is not read as a gap in your work.
We show lenders your relief work over several months
Relief and casual teaching income is usually averaged over several months, and some lenders count only part of it. We work out which lenders will count the most of yours from the payslips you already have.
We count your allowances and your HECS-HELP properly
Allowances for a country posting or a leadership role add to your income, and lenders confirm them from payslips or your contract. Compulsory HECS-HELP repayments, the student loan repaid through your tax, come off what you can borrow, so we work out both before you apply.
We weigh the waiver against the whole loan
A teacher waiver commonly stops at 85 per cent of the property's value. A loan with a waiver can carry a higher rate or fees, and over the years those can cost more than the premium. We compare the whole loan, rate and fees included.
We time the application around probation
Most lenders accept a teacher on probation, and some prefer it finished first. If waiting a few months opens up a better lender for you, we tell you before anything is submitted.
Work out what a waiver is worth
The premium a waiver would remove, and what you can borrowEstimate the insurance premium a waiver could save you, and how much a lender might lend on your income. Both figures move with how a lender counts relief work, allowances and HECS-HELP repayments, so treat them as a starting point.
Work out which LVR band you are in
The lender uses its own valuation, which is not always the price you agreed.
What is going towards the property itself, after transfer duty and costs are paid.
80% is where lenders mortgage insurance normally stops applying. Move this to whatever band your lender has told you about.
Your loan-to-value ratio
91.0%
Above 80%, so lenders mortgage insurance would normally apply.
- The loan you would need
- $546,000
- Your deposit as a percentage
- 9.0%
- Deposit for a 80% ratioWhich would leave a loan of $480,000.
- $120,000
- Extra deposit needed to get thereCrossing a band can be worth far more than the dollars suggest.
- $66,000
This tool does not price the premium, and that is deliberate. LMI premiums are set by the mortgage insurers and vary by insurer, lender, LVR band and loan size, so there is no universal table anybody can honestly publish. What you see above is the part that is the same everywhere: where you sit against 80% and what it takes to move. For an actual figure, we run your numbers at the lenders whose insurer pricing suits your ratio and come back with a quoted premium. This is an estimate, not an approval.
Get a real LMI figureWork out what you could borrow
What actually lands in your accounts, so $9,000 a month. Include a partner if you are buying together.
Groceries, fuel, insurance, childcare, subscriptions. Lenders apply a minimum benchmark, so a low figure here will not be taken at face value.
Car, personal, HECS, existing mortgages.
The limit, not the balance.
Lenders count between 2.5% and 3.8% of every card limit as a repayment, whether you owe anything or not.
An example figure to change, not a rate on offer.
Lenders test you at a rate above the one you pay. Three percentage points is the level APRA expects, so you are being assessed at 9.00%.
Used only for the price guide below.
You could borrow around
$684,000
Based on $5,500 a month left over, assessed at 9.00%.
- Monthly income counted$108,000 a year, after tax, divided by twelve.
- $9,000
- Monthly surplus a lender would seeIncome less expenses, commitments and card limits.
- $5,500
- Card limits counted as a repayment3.8% of $0 a month.
- $0
- Assessment rate used6.00% plus a 3.00% buffer.
- 9.00%
- Repayment at the loan rateWhat you would actually pay each month, not the tested figure.
- $4,098
- Rough price guide with your depositStamp duty and fees come out of the deposit, so the real figure is lower.
- $804,000
This is an estimate, not a pre-approval. Every lender counts income, expenses and commitments differently, and the spread between the most and least generous on the panel is often more than $150,000 on the same file. Lending is subject to approval.
Get a real numberEach tool has a page of its own explaining every figure it uses: lmi calculator and borrowing power calculator.
How teachers borrow
Four ways teachers buy a home, and what each one meansTeachers often hear that there are special home loans for them. In practice that means an insurance waiver at some lenders, plus the routes open to anyone buying with less than twenty per cent saved.
- Lenders mortgage insurance waiver
Tends to suit
Teachers borrowing with less than twenty per cent saved
Worth knowing
Offered by some lenders only, commonly up to 85 per cent of the property's value and at some lenders 90
- Standard loan with the insurance paid
Tends to suit
Teachers who would rather buy now than keep saving
Worth knowing
The premium varies by lender and loan size, and it is usually added to the loan
- Family guarantee
Tends to suit
Teachers whose relative can offer part of the value of their home as extra security
Worth knowing
Removes the premium in most cases, and the family member takes on a real obligation
- Government first home buyer schemes
Tends to suit
Eligible teachers buying their first home
Worth knowing
Eligibility and thresholds are set by government and change, so we check the current rules
You do not need to know which lender has a policy for teachers. Tell us how you are employed and paid, and we check the panel for you.
Who home loans for teachers suit
The teachers we check lender policy forLender policy matters most when the deposit is under twenty per cent or the pay is not a single permanent salary. These are the situations that come up most often.
Teachers buying with less than twenty per cent saved
Teachers on a fixed-term contract, or a run of them
Relief and casual teachers with a steady pattern of work
Graduate teachers still on probation
Teachers paid allowances on top of their base salary, such as for a country posting or a leadership role
Teachers repaying a HECS-HELP debt, the student loan repaid through your tax
How the process works for teachers
Five steps, with your employment checked before step twoWe follow the same five steps as any loan we write. Your contract, relief work and allowances are checked against lender policy before anything is submitted.
Start an application
You send us the basics and we work out what you could borrow and which lenders will look favourably at your situation.
Read this step in full: Start an applicationWhat you need
Income, debts, deposit
Get pre-approved
We put your file to the lender that fits and bring back a pre-approval in writing, subject to lender approval and your circumstances.
Read this step in full: Get pre-approvedWhat we do
Match the lender to your file
Get officially approved
Once your offer is accepted, the lender orders its valuation and issues formal approval.
Read this step in full: Get officially approvedWhat we do
Chase the lender, so you do not have to
Prepare for settlement
We go through the loan documents with you before you sign anything, then coordinate the lender and your settlement agent.
Read this step in full: Prepare for settlementWhat you need
Your questions, asked early
Stay up to date
After settlement we keep the loan under review as rates move and your circumstances change.
Read this step in full: Stay up to dateWhat we do
Review it, and tell you first
Step 1 of 5 · Start an application
About our independent mortgage brokers
The brokers who read a teacher's pay properlyIndependent means no franchise above us and no lender owning a share of the business. Nobody upstairs sets a monthly target, so we can tell you when no waiver applies. Your bank has one policy for teachers; we compare 40+ lenders.
Gavin Harrigan has been broking from West Leederville since 2005. Today it runs on a small team, Gavin Harrigan, Justin Richardson and Xavier Prescott, each with their qualifications on the page. You deal with the person who writes your loan, before settlement and after it.
The work runs from a first home loan, through refinancing and investment lending, out to construction, small developments and commercial property. Same broker, whichever end of that you are at.
- VerifiedBroking since 2005
- VerifiedOver $1 billion in loans settled
- VerifiedAustralian Credit Licence 389083
- VerifiedMoneyQuest accredited
- VerifiedMember of the Finance Brokers Association of Australia (FBAA)
- Verified40+ lenders on the panel
Fifteen minutes is usually enough to tell you where you stand. No cost, no obligation, and any lending is subject to approval and your circumstances.
Why teachers choose us
Each lender reads teaching income its own way, so somebody should check them allNo franchise and no lender has a say in which loan we recommend to you.
- Included
No franchise, no head office quota
We do not pay a franchise fee, so nobody upstairs sets a monthly target for us to hit. That removes the main reason a broker recommends the wrong loan.
- Included
No lender owns a share of us
The banks have no stake in this business and no claim on where files go. Your bank has one loan to sell you. We do not.
- Included
40+ lenders, one shortlist
We compare 40+ bank and non-bank lenders, then explain why the shortlist looks the way it does. Policy differences decide more applications than rate does.
- Included
We will tell you when the answer is no
If refinancing does not actually save you money, we say so and you leave the loan where it is. A wrong loan costs more than the fee it earns.
- Included
The same broker after settlement
You keep dealing with the person who wrote the loan. We review it as rates and your circumstances change, not once and then never again.
What our clients say
Reviews from people we have written home loans forReviews left by people we have settled home loans for, shown as they wrote them.
Our lender panel for teachers
Policy for teachers is set lender by lender. We compare 40+We work with major banks, smaller banks and lenders that are not banks, and each has its own view of contract and relief teaching. MoneyQuest gives us access to the panel, and 21+ years of writing home loans tells us where to look first.
A selection of the lenders we are accredited with. Ask us who else is on the panel for your situation.
Our home loan guides
Read one before you talk to a lenderPlain-English answers on borrowing capacity, the WA grant with every figure dated to its source, and what pre-approval is worth. Each one carries a broker's name.
Approvals
Credit scores and home loans
What is on your file, how long it stays there, and what a lender does with it.
Read it: Credit scores and home loans
Borrowing power
How much can I borrow?
Income less commitments, tested at a rate higher than the one you would pay.
Read it: How much can I borrow?
First home buyers
The First Home Owner Grant in WA
Who qualifies, what it is worth, and every figure dated to its WA Government source.
Read it: The First Home Owner Grant in WA
Approvals
Home loan pre-approval, explained
What a lender is actually committing to, and what can still undo it.
Read it: Home loan pre-approval, explained
Meet our Perth mortgage brokers
The broker you talk to is the one who writes your loanWe are a team of three: Gavin Harrigan, Justin Richardson and Xavier Prescott. The person who reads your payslips is the person who submits the application and the person who reviews it later.
Gavin Harrigan
Managing Director
Broking since 2005, four-time Top 100 broker and a PLAN Australia Hall of Fame member.
- Bachelor of Commerce, Applied Finance and Commercial Law, Curtin University
- Diploma of Finance and Mortgage Broking Management, AAMC Training Group
- PLAN Australia Hall of Fame member
- Elite Broker status
- Top 100 Brokers, four times
Justin Richardson
Loan Consultant
Business and law background, and a habit of making the process feel simple.
- Bachelor of Commerce, Business Law and Marketing, Curtin University
- Bachelor of Laws (in progress), Murdoch University
Xavier Prescott
Loan Consultant
Fresh qualifications, a competitor's discipline, and a lot of patience.
- Diploma of Finance and Mortgage Broking Management
Common questions about home loans for teachers
Can teachers avoid lenders mortgage insurance?
Some lenders waive lenders mortgage insurance for teachers, the premium you normally pay when you have saved less than twenty per cent. The limit is commonly 85 per cent of the property's value, and some lenders go to 90. We check your situation against the panel.
Can I get a home loan as a relief or casual teacher?
Usually, if you can show a steady pattern of work. Lenders generally average relief income over several months of payslips, and some count only part of it. We find the lenders that will count the most of yours.
Will a lender accept my fixed-term contract?
Many will, especially when you have had contracts back to back or have a good stretch left on the current one. A teacher between contracts, or early in a first one, may find lenders more cautious. We show your contract history clearly when we apply.
Can I apply while I am still on probation?
Yes, most lenders accept a teacher on probation. Some prefer probation to be finished first, so the lender choice can change if you wait a few months. We tell you which option opens up the better loan.
Does my HECS-HELP debt affect how much I can borrow?
Yes. Lenders count your compulsory HECS-HELP repayments, the student loan repaid through your tax, as a regular commitment. That reduces how much you can borrow, so we work it into the numbers before you apply.
Will a lender count my allowances?
Often, once they are confirmed on your payslips or in your contract. Lenders differ on how much of an allowance they count and for how long it has to have been paid. We check that lender by lender.
Related home loans we arrange
Other home loans teachers ask us aboutMany loans involve more than one of these. If yours does, it is the same broker and the same conversation.
Home Loans by Occupation
Lender policies that recognise your occupation, starting with the insurance waiver.
Learn moreabout Home Loans by Occupation
First Home Buyer Loans
Your first place in Perth, from what you can borrow through to the keys.
Learn moreabout First Home Buyer Loans
Low Deposit Home Loans
Buying with less than twenty per cent saved, with every route costed first.
Learn moreabout Low Deposit Home Loans
The information on this page is general in nature and does not take into account your objectives, financial situation or needs. Any figures shown are estimates only. Lending is subject to approval, and to the lender's terms, conditions, fees and charges. Consider whether the information is appropriate for you before acting on it.
Get in touch
Talk to us about your teaching job and your loanFill in a few details and you are done. A broker reads them, checks how lenders will treat your teaching income, and rings you back on the number you give us.
Would rather just talk?
Ringing is quicker than waiting for us to ring you, and you get a broker rather than a queue.
1300 813 113