Professional benefits
Some lenders extend LMI waivers and pricing to eligible engineers.
FOR ENGINEERING PROFESSIONALS
Home loans for engineers.
A stable profession.
Income read the right way.
Civil, electrical, mechanical, mining or any other discipline, some lenders reward engineers with potential LMI waivers, discounted rates and fee reductions. Where you most need a specialist is income: bonuses, site allowances, FIFO and contract work are read very differently between lenders. We present yours the way lenders assess it, across a panel of 40+ lenders. Personal guidance from Ausfirst Lending Group in Caloundra.
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Permanent, contract or FIFO.Matched to the right lender.
MOREof what you
earn counted.
earn counted.
40+Lenders on our panel
30+ yearsRichard’s lending experience
$0Broker fee for home loans
Local careQueensland-wide
STABLE PROFESSION, VARIABLE INCOME
For engineers, income
is usually the variable.
The complication is rarely the profession. Contract terms, project gaps, bonuses and site allowances can make a strong earner look inconsistent to the wrong lender. Presented properly, to a lender that understands engineering income, both work in your favour.
Contract income understood
Bonuses, overtime, allowances, FIFO and fixed-term work, read the right way.
One broker throughout
The same person from first chat through to settlement, not a call centre.
Benefits are more conditional than for medicos. We check which lenders extend them to engineers rather than assume.
Start with a free chatWHAT ENGINEERS MAY ACCESS
Where being an engineer
can change the deal.
Subject to lender policy and eligibility.
Potential LMI waivers
Some lenders may waive LMI for eligible engineers with under 20% deposit. We confirm it against current policy first.
Discounted rates
Professional or package pricing reflecting career stability, a meaningful saving over time.
Reduced fees
Application, package or account fees reduced or waived by some lenders.
Flexible features
Offset, redraw and flexible repayments to manage bonuses and gaps between contracts.
HOW YOU’RE EMPLOYED
Permanent, contract or consulting?
| What changes | Permanent | Contract | Own ABN |
|---|---|---|---|
| Income proof | Payslips | Contract, payslips | Two years’ returns |
| Base income | Usually 100% | Lender-dependent | Profit plus add-backs |
| Time in role | Often 6 months | Continuous history | Usually 2 years |
| Lender choice | Widest | Varies most | Narrower |
Some lenders consider a low-doc approach for newer ABNs. Policies vary.
Check my optionsKNOW YOUR NUMBERS
How much of your
income counts?
Lenders count your base salary in full, but bonuses, overtime and site or FIFO allowances are often shaded, sometimes heavily. The right lender counts more of what you actually earn.
That difference can move your borrowing capacity significantly.
- Base salary or contract rate
- Bonus and overtime history
- Site, FIFO and travel allowances
- How each lender shades extras
YOUR INCOME, AT A GLANCE
What might a lender count?
$40k$400k
Illustrative assessable income$158,000
Extras counted$28,000
Extras not counted$7,000
Illustration only, not a borrowing assessment. Lenders usually need a consistent history for extras, and some count bonuses and allowances differently. Annual amounts before tax.
Check my actual optionsHOW YOUR INCOME IS ASSESSED
Many shapes of
engineering income.
Full-time permanent engineers are the simplest to assess, usually on 100% of base salary after around six months in the role. Everything else is where lenders differ.
CONTRACT AND PROJECT-BASED
Where the lender match is everything.
Fixed-term, day-rate and project work is where lenders differ most. Many lend as normal with a solid contract and continuous history; others tighten conditions.
A clear work history, a signed contract and clean statements turn scrutiny into a formality.
Extras that count
Consistent bonuses, overtime and site or FIFO allowances can be counted, often partially and sometimes in full with history.
Your own consultancy
Assessed as self-employment, usually on two years of returns. A low-doc approach can help newer ABNs.
See self-employed home loansLender policies on engineer benefits and income assessment vary and can change.
Let’s read your income properly. We’ll match how you’re paid to the lender that counts the most of it.
Check my next stepsTHINGS TO WEIGH UP
Real benefits.
A clear-eyed decision.
An engineer’s loan should still fit your work pattern and your life.
More scrutiny
Contract and project income invites closer questions. Good paperwork answers them.
Rate movements
On fixed-term work or in a cyclical sector, build room for rate rises.
Gaps between projects
An offset buffer helps you ride out a gap without strain.
Skilled visa holders
Some lenders consider 482 visa holders, often with a larger deposit.
WHY ENGINEERS WORK WITH AUSFIRST
A stable profession,
matched to variable income.
A strong earner shouldn’t be undersold because the income looks lumpy.
We read contract income
Day rates, fixed-term contracts, FIFO allowances and bonuses.
We know who includes engineers
Which lenders extend waivers and pricing, so you don’t assume.
The same person
You work directly with Richard Luke, not a call centre.
No direct cost
Lenders pay us on settlement. We disclose any fees before you proceed.
No waiver available? Low deposit options or a family guarantee can still get you in.
Explore low deposit loansHOW WE WORK
Advice before
commitment.
A simple process built around reading your income properly before anything is lodged.
CONVERSATION
An obligation-free chat
What you can borrow once your income is read properly.
ELIGIBILITY
Check professional benefits
Which waivers and pricing you may qualify for.
STRATEGY
Recommend the lender
The policy and income rules that best fit how you earn.
APPLICATION
We handle it
Payslips, contracts and income evidence, liaising with lender and solicitor.
SETTLEMENT
See it through
We coordinate settlement around your roster or site time.
AND BEYOND
Six-month review
We review your loan to check it remains competitive.
Richard LukeFounder · Ausfirst Lending Group
WHAT MAKES AUSFIRST DIFFERENT
Your career is personal.
Your broker should be, too.
You’re looked after by someone who treats your financial success as his own.
You work directly with Richard Luke, our director, with more than 30 years in Queensland lending. Not a call centre, and not a different voice each time.
Whether you’re buying your first home, upgrading, refinancing or investing, he takes the time to understand your profession, income structure and plans.
Direct access to RichardContract and FIFO income understood2024 Sunshine Coast Business Awards finalist
Talk to a broker
More about RichardWHAT OUR CLIENTS SAY
Good people.
Great support.
ExcellentBased on 35 Google reviews
Google review
“I would describe Richard and Ausfirst Lending as friendly, insightful, prompt and diligent. A pleasure to deal with.”
Google review
“Debbie made the process of buying a new house frictionless, by providing excellent support throughout”
Google review
“I received very prompt responses to all of my questions and the team ensured that my application was processed in a timely manner. The service was brilliant!”
Excerpts from client reviews displayed on Ausfirst’s website. These reflect individual experiences.
LET’S CLEAR THINGS UP
Loans for engineers.
Real questions.
The questions engineers ask us most. How you’re employed matters, so we’re happy to talk through the detail.
Ask a questionDo engineers get special home loan benefits?
With some lenders, yes: potential LMI waivers, discounted pricing and fee reductions. They’re more conditional than for medical professionals, so we check which apply to you.
Can engineers get a home loan with no LMI?
Sometimes. Some lenders may waive LMI for eligible engineers with under 20% deposit, depending on the lender, your income and your role.
Can contract, FIFO or self-employed engineers qualify?
Yes. Some lenders are cautious with contract or self-employed income; others lend as normal with a solid contract or two years of returns.
Will lenders count my bonuses and allowances?
Usually in part, and sometimes in full with a consistent history. How much counts varies by lender.
Do engineers need a larger deposit?
Not necessarily. With a waiver, some lenders allow up to 90% LVR. Without one, low deposit options or a family guarantee can help.
What documents do engineers need?
Payslips, bank statements, ID and debt details, plus a contract if you’re on a project role, or two years of returns if self-employed.
Can engineers on a skilled work visa get a home loan?
Sometimes. Some lenders consider 482 visa holders, usually with a larger deposit and tighter conditions.
How does a broker help compared to a bank?
A bank only applies its own view of contract or bonus income. We match your income pattern to a lender that reads it favourably, at no direct cost for most home loans.
START WITH A CONVERSATION
Talk to a broker who
knows engineer lending.
Tell us how you’re employed and what you’re buying. We’ll show you which benefits you qualify for and what you can borrow.
Professional benefits checked
Contract, FIFO and bonus income read properly
Direct access to Richard
Visit our Caloundra office
Suite 3/74 Bulcock St, Caloundra QLD 4551
Monday–Friday, and by appointment
YOUR FREE CONSULTATION
Tell us how you’re employed.
Permanent, contract, FIFO or consulting, and what you’re buying.
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