By Chaice Paterson, CEO & Founder, Low Deposit Homes | Updated June 2026

If you are a South African nurse working in Australia, you are in one of the strongest positions of any first home buyer — and most lenders will give you credit for more income than you realise. Here is the key fact most nurses are never told: for a registered nurse, most lenders count your overtime and shift allowances at 100%. Your penalty rates, your night and weekend loadings, your overtime — on the Nurses Award these can add many thousands to your assessable income, and a lender that counts them in full assesses a much bigger borrowing capacity than your base salary alone suggests. Combine that with the federal 5% Deposit Scheme (5% deposit, zero LMI), the state scheme stack, and — because 76% of South African-born residents hold citizenship — possibly Help to Buy, and a South African nurse or nursing couple can buy a brand-new home for far less cash than they assumed. Low Deposit Homes builds across Queensland and Victoria and will match you to the corridor that suits your work, family and budget. Here is the playbook.

Why is a registered nurse’s income so loan-friendly?

A registered nurse’s pay is rarely just base salary. Under the Nurses Award, you earn penalty rates for evenings, nights, weekends and public holidays, plus overtime at 150% for the first couple of hours and 200% thereafter, plus shift allowances. For a full-time RN, that can lift real earnings well above the base — the national median RN salary sits around $88,000, and many nurses working shifts and overtime earn meaningfully more.

The crucial part for borrowing: most lenders count an RN’s overtime and allowances at 100%, because the income is regular, essential and well-evidenced. That is not true of every occupation — many workers see their overtime discounted by 50% or ignored. For nurses, a lender that counts it in full can mean tens of thousands more in borrowing capacity, which is often the difference between a comfortable approval and a marginal one.

There is a nuance worth being honest about: the treatment is most generous for registered nurses in stable roles. If you work as an enrolled nurse (EN), an assistant in nursing (AIN), in aged care, or on a casual basis, lender policy is more conservative and usually has consistency-of-income requirements. The income still counts — but how much, and with what history, depends more on the lender, which is exactly where matching matters.

How do you present your nursing income for the strongest result?

1. Keep your payslips and a recent group certificate / income statement. Lenders count what you can evidence. A clean record showing your base plus regular penalties and overtime is your strongest asset.
2. Consistency beats spikes. Regular, ongoing overtime reads far better than occasional bursts. If you are 6–12 months from buying, steady shifts help your case.
3. If you’re casual or agency, hold your pattern steady. Don’t reduce your hours or switch agencies right before applying — consistency is what conservative casual policies reward.
4. Don’t change jobs right before applying. A probation period at a new employer can reset how your income is assessed. Make moves after settlement.
5. Tell us your exact role. RN, EN, AIN, aged care, agency, public vs private — each is assessed differently. The detail lets our finance partners match you to the lender whose policy treats your income most generously.

Which schemes can a South African nurse use?

Many South African nurses arrived through skilled migration and already hold PR (subclass 189/190/186), which means everything except Help to Buy is open from the day PR was granted. If you are a citizen, Help to Buy is also available, subject to its income caps ($100,000 single / $160,000 couple-family) — a real lever for a single nurse, though note that strong overtime can push you over the single cap, in which case the 5% Scheme is your route and you own 100% of the home.

What can a South African nurse actually afford?

Honest numbers, governed by one rule: the 5% Scheme reduces your deposit, not your loan. Your assessed income sets the borrowing capacity, and no responsible application stretches the loan past roughly 6.5 times a single income, or 6 times where you support dependants — but for nurses, the assessable income is often higher than base salary because overtime and allowances count. Because Low Deposit Homes builds right across Queensland and Victoria, the figures below are examples of the value on offer, not the only places you can buy.

A nursing couple — combined assessable $150,000–$190,000: a very strong position. An $850,000 package in a Brisbane growth corridor (about $46,500 cash in), or a ~$680,000 package in one of Victoria’s more affordable growth corridors at around $28,000 net cash in, is comfortably within reach — and similar value exists in other corridors across both states.

A single registered nurse — base ~$85,000–$95,000 plus regular overtime: because overtime and allowances count at 100% with the right lender, your assessable income may comfortably exceed $100,000 — which makes a sub-$750,000 Victorian new build genuinely serviceable on one income, a rare thing. (Note: that same strong income may put you over the Help to Buy single cap, so the 5% Scheme is typically your path.) In Brisbane, where packages start higher, a single nurse is tighter — a joint application or a larger First Home Super Saver deposit are the honest levers.

If you support parents living in your household, they count as dependants and reduce capacity, and a parent’s pension is never used in an application. Remittances to family in South Africa are committed outgoings that lower assessed capacity but never disqualify you. And if you build your deposit through a stokvel, a documented and disclosed payout can form part of it.

Popular corridors — and the value they offer

Low Deposit Homes builds across Queensland and Victoria, so these are examples of where the value is strong, not the only places you can buy — we match you to the corridor that suits your work, family and budget.

Brisbane and surrounds — for example, the western Ipswich corridor (areas such as Collingwood Park, Redbank Plains and Ripley) and the Logan growth corridor. New 4/2/2 packages typically run $830,000–$1 million; keep under the $1 million 5% Scheme cap. Most exceed the $750,000 FHOG cap, so usually no grant — but the 5% Scheme plus Queensland’s uncapped stamp duty exemption still remove roughly $55,000–$60,000 of upfront cash. Illustrative $850,000 package: about $46,500 cash in. Other Brisbane growth areas offer comparable pathways.

Melbourne and Victoria — for example, the western, northern and south-eastern growth corridors (and Geelong), where packages frequently sit $650,000–$850,000. Under $750,000 you unlock the full Victorian stack (FHOG $10,000 + stamp duty exemption + 5% Scheme): on an illustrative ~$680,000 package, about $28,000 net cash in. Similar value exists across Victoria’s other growth corridors.

How does Low Deposit Homes help nurses specifically?

We get you a full bank approval before you are placed on any package — our finance partners (licensed brokers) review your borrowing capacity and match your exact role (RN, EN, AIN, aged care, agency) to the lender whose policy counts your overtime and allowances most generously — and we find you the right new-build package — a 4-bed, 2-bath, 2-car home with a multi-purpose room, the best layout for your family within budget, with no upselling.

We build across Queensland and Victoria — from the Ipswich and Logan growth corridors in Brisbane to Melbourne’s western, northern and south-eastern growth corridors and beyond — and match you to the area that fits your life, not the other way around.

Worth knowing early: settlement is not handover. Settlement is when the land title transfers; handover is when you collect the keys, often months later. “Conditional, awaiting registration” is normal in a new build.

Frequently asked questions

Will a lender count my overtime and shift penalties?
For a registered nurse, most lenders count overtime and allowances at 100%. For EN, AIN, aged care or casual roles, treatment is more conservative and depends on consistency — matching you to the right lender is key.

Can I buy on a single nursing income?
Often yes for a registered nurse, because overtime and allowances lift your assessable income — a sub-$750,000 Victorian package can be serviceable on one RN income. In Brisbane it is tighter. We’ll run your real numbers.

I’m a South African nurse on PR — which schemes can I use?
Everything except Help to Buy, from the day PR was granted: the 5% Scheme, the FHOG where your package fits under $750,000, and the stamp duty exemptions.

Does my strong overtime push me out of Help to Buy?
It can — Help to Buy has firm income caps ($100,000 single / $160,000 couple-family). If you’re over, the 5% Scheme is your route, and you own 100% of the home.

Can I use my stokvel for the deposit?
Yes, documented and disclosed — keep a paper trail, add a gift statutory declaration if relevant, and mind time-in-account rules.

Do I have to buy in a particular suburb?
No. The corridors mentioned are examples of where we build and where the value is strong — we build across Queensland and Victoria and match you to the area that suits your work, family and budget.

Your next step

Book a free 15-minute consultation and we’ll tell you exactly how your nursing income will be assessed and what a real package would cost you.

Book your free call → Book your free call | 1800 920 172

Related reading: South African First Home Buyer Guide (pillar) · First Home Buyer Schemes by Visa for South Africans · NDIS Worker Home Loans in QLD and VIC · How Low Deposit Homes Works.

Related guides: Queensland first home buyer guide · Victoria first home buyer guide · Grant Eligibility Calculator · Borrowing Power Calculator

Low Deposit Homes operates under Winning Homes Australia Pty Ltd (ACN 633 321 758). All calculations indicative. Not financial advice.