Home Loans for Teachers
Helping Educators Get Ahead
Teachers dedicate their lives to helping others succeed — at MJ Financial Chiefs, we believe in helping you succeed too. That’s why we specialise in securing home loans tailored to the unique needs of teachers and educators across Victoria and beyond.
Whether you’re a first-year graduate, a permanent classroom teacher, or a casual relief teacher, we’ll guide you through the home loan process with lenders who value your profession.
Why Choose a Teacher Home Loan?
- LMI Waivers – Some lenders waive Lenders Mortgage Insurance (LMI) to 85% LVR for eligible teachers, saving you thousands.
- Discounted Interest Rates – Access competitive rates designed for professionals in education.
- Flexible Loan Options – Options for fixed, variable, or split loans to suit your lifestyle.
- Stronger Approval Potential – Many lenders recognise teaching as a stable, reliable career.
Need To Find Out Our Much You Could Borrow?
Some lenders count 100% of teacher overtime and allowances — check your true borrowing capacity now.
Do You Qualify for Waived LMI and Reduced Deposit?
- Day Care teachers
- Family daycare teachers
- Preschool teacher
- Childcare centre workers
- Kindergarten teachers
- Primary school teacher
- Tutors
- Higher school teacher
- Lecturer in TAFE
- University lecturer
- Professors at University
- Students studying teaching
As long as one of the applicants fits into the role of an educator or teacher, the special home loan policy will apply to the application.
How We Help Teachers
At MJ Financial Chiefs, we don’t just connect you with a loan — we tailor the right solution for your unique situation.
- Analyse your income (including allowances and additional roles).
- Match you with lenders offering teacher-specific loan benefits.
- Help you with pre-approvals so you can buy with confidence.
- Provide ongoing support for refinancing, investment properties, or building your dream home.
Talk to a broker who understands teacher home loans.
Common Questions for Teacher & Educator Home Loans
Can’t find what you’re looking for?
We’d love to chat with you.
Do I need an employment letter?
In some cases, yes, the lender may ask for a letter of employment to prove your current and future employment status, namely:
- How long you have been a teacher.
- Whether you have a block of teaching confirmed for the upcoming term.
- Whether you will continue to work as a casual, if you’re looking for temporary work elsewhere or whether you will soon be made a full-time teacher.
What if I’m a teacher on probation?
Teacher home loans are available even if you’re on probation.
However, note that you’ll need to meet all other standard lending criteria and have a clear credit history.
Can I get my home loan during school holidays?
During the school term, you’re busy planning classes and marking homework, so you typically don’t have time to search for a property, speak to a real estate agent or start your home loan application.
When you do have time to speak to a professional or need an employment letter to prove your income, agents are on holiday and the school is closed.
Luckily, the HR department of most schools is open during school holidays.
In addition to this, most schools have online payroll systems that allow you to login to take a screenshot of your income and employment evidence.
If your employment contract will be signed off over the Christmas holidays, most teachers can contact their principals to provide an employment letter confirming that your contract will be renewed for the coming school year.
Is working as a casual relief teacher acceptable?
Working as a casual teacher is simply the nature of starting your career as a new teacher. Some teachers also work casual indefinitely as it suits their lifestyles. We have found this very common when they may have recently started a new family and have returned to work post maternity leave.
The problem that banks have is that you only work around 40 weeks per year and during the long summer break, there’s often no income to show.
Luckily, some lenders will work off your gross year to date (YTD) income to determine your average fortnightly salary.
The lender will typically require you to:
- Have been in your casual position for at least 3 months.
- Provide payslips showing consistent income over a 3-month period.