Buying a Home: With Credit Card Debt and HECS as a Healthcare Professional

Healthcare Home Loans
Oct 20
3 min read

For many healthcare professionals, nurses, midwives, doctors, and allied health workers, buying a home feels overwhelming when you’re juggling family life, credit card repayments, and a HECS-HELP debt. Add in the rising cost of living and rent, and it can seem impossible.

But here’s the truth: healthcare workers have unique lending opportunities that can make home ownership achievable sooner than you think.

The Healthcare Family Scenario

Let’s take a real-world example. A healthcare couple with two kids:

One works as a nurse with regular shift penalties
The other works part-time in allied health while caring for the children
Together, they have $8,000 in credit card debt
Both still have HECS debts from their studies
They’re paying $600 a week in rent (that’s over $30,000 a year with no return)

The big question: Can this family still get into their first home?

How Lenders View Healthcare Workers With Debt

When applying for a healthcare worker home loan, lenders look at income, living expenses, and existing liabilities.

Credit Card Debt – Lenders assess the limit of your card, not just the balance. A $10,000 limit can cut borrowing power by up to $40,000.
HECS Debt – Treated like a tax repayment, it reduces your income available for mortgage repayments.
Family Size – More dependents increase your assumed living costs, which also lowers borrowing capacity.

While these factors matter, healthcare workers often have unique advantages that can offset them.

The Healthcare Advantage

Here’s where being in the healthcare industry pays off. Many lenders offer special policies for nurses, midwives, and healthcare professionals, including:

✅ Lower deposit requirements – As little as 10% instead of the standard 20%

✅ LMI waivers – Saving $10,000+ upfront on Lenders Mortgage Insurance

✅ Income recognition – Overtime, shift penalties, and allowances are often included to boost borrowing capacity

✅ Healthcare lending panels – We work with 50+ lenders who understand the complexity of healthcare income structures

This means that even with credit card debt and HECS, healthcare workers may qualify for a home loan sooner than the average borrower.

The Strategy for Healthcare Families

Reduce High-Interest Debt
Consolidating or lowering credit card limits can instantly increase borrowing capacity.
Leverage Healthcare-Specific Benefits
Not every bank offers LMI waivers or recognises healthcare overtime correctly. Choosing the right lender matters.
Maximise HECS Treatment
Some lenders are more generous in how they assess HECS repayments. For healthcare workers, this can add thousands to borrowing power.
Start With a Realistic Entry Home
It may not be your forever home, but buying a property now allows you to start building equity rather than paying rent.

A Realistic Healthcare Example

Instead of paying $30,000 a year in rent, a nurse and allied health worker family could:

Purchase a $600,000 property with just a 10% deposit
Avoid paying LMI, saving over $10,000 upfront
Have their overtime and penalty rates factored in — boosting loan approval chances

This isn’t a pipe dream. It’s the kind of strategy we set up for healthcare workers every week.

💡 Credit card debt and HECS don’t disqualify healthcare families from buying a home.

With the right lender and a strategy tailored to healthcare professionals, you can still enter the property market and start building equity for your future.

Ready to explore your options? Book a free strategy call with a Healthcare Lending Specialist. We’ll show you exactly what’s possible based on your income, savings, and goals.