You May Qualify for an LMI Waiver up to 95% LVR

Doctors, general practitioners (GPs), registrars and specialists dedicate their lives to caring for their communities. Because of their stable and growing incomes, many lenders in Australia view medical professionals as low‑risk borrowers. This means you may be able to borrow up to 95% of a property’s value without paying lenders’ mortgage insurance (LMI), saving you thousands of dollars in upfront costs. In some cases, with a guarantor or additional security, you might even access 100% LVR finance.

At Lend A Loan, we specialise in matching doctors, GPs and specialists with mortgage products designed specifically for medical professionals. Our role is to navigate the lender policies, compare options and help you secure a home loan that acknowledges your professional status.

Why Doctors, GPs & Specialists May Qualify for Special Home Loan Benefits

As a medical professional you bring certain strengths that lenders value highly:

• Stable income & high earning potential: Doctors and GPs generally have predictable income streams and long‑term job security. This lowers default risk for lenders.
• Professional recognition: Being registered with the Australian Health Practitioner Regulation Agency (AHPRA) and often members of medical associations signals reliability.
• No‑LMI programs: Many lenders offer LMI waivers up to 90‑95% LVR for doctors. In some circumstances (e.g., with parental guarantees or additional security) you may borrow even more.
• Specialist packages: Some banks provide special interest rates, fee reductions and dedicated service teams for medical professionals.
• Flexible documentation: Lenders recognise that doctors may earn income from multiple sources—public hospital salaries, private practice billings, Medicare rebates or consultancy fees—and can consider these incomes holistically.

Key Features and Potential Advantages

When comparing home loan options for doctors and GPs, you may find features not commonly available to standard borrowers:

• High LVR with low deposit: Purchase a property with as little as 5‑10% deposit and still avoid LMI (subject to lender approval).
• Interest rate discounts: Access professional rate discounts and tiered pricing based on your occupation and income level.
• Offset and redraw facilities: Use an offset account or redraw facility to reduce interest and manage cash flow, particularly useful if you have irregular income from locum or private work.
• Interest‑only options and split loans: During specialist training or fellowship years, an interest‑only period may help your budget. A split loan can balance fixed and variable rates.
• Investment property lending: Many lenders extend their medico packages to investment property purchases, allowing you to build a property portfolio while leveraging LMI waivers.
• Guarantor and family pledge options: If you don’t have a full deposit, family members may be able to provide security to help you borrow up to 100% of the purchase price without LMI.

Eligibility and Important Considerations

Even with specialised programs, all home loan applications are subject to lender policies and responsible lending obligations. Key factors include:

• AHPRA registration: You must hold current registration as a medical practitioner (general or specialist) or dentist. Interns and registrars may need a signed employment contract outlining future income.
• Income verification: Provide recent payslips, employment contracts and (for self‑employed doctors) tax returns or financial statements. Locum and private practice income can often be included.
• Credit history: Lenders will assess your credit score and existing debts (credit cards, car loans, HELP/HECS).
• Property criteria: Most lender policies apply to standard residential dwellings in acceptable postcodes. Some may exclude high‑density apartments or rural properties.
• Loan amount limits: Each lender sets a maximum loan size for LMI‑waived loans (e.g., up to $1 million or more). Loans above this may require a higher deposit.

Remember: approval is always subject to individual lender assessment and lending criteria.

How Lend A Loan Supports Medical Professionals

Choosing the right mortgage can be overwhelming, especially with a demanding schedule. Here’s how our specialist brokers help:

• Personalised consultations: We schedule appointments around your rosters, whether you’re doing night shifts or working weekends.
• Multi‑lender comparison: We work with a broad panel of lenders who offer doctor‑specific packages, comparing rates, fees and features to find the best match.
• Documentation management: We assist with gathering necessary documents, including employment letters, Medicare billings and financials, and prepare your application to maximise success.
• End‑to‑end support: From pre‑approval to settlement, we liaise with the lender, solicitors and real estate agents to ensure a smooth process.
• Ongoing review: After settlement, we keep an eye on interest rate changes and lender policies to advise you on refinancing or restructuring opportunities.

Frequently Asked Questions

Can doctors really avoid paying LMI?

Many lenders offer full or partial LMI waivers for medical professionals borrowing up to 90‑95% LVR. Each lender has its own criteria, so it’s important to speak with a specialist broker to determine your eligibility.

Do interns, registrars and GPs qualify?

Yes. Interns and registrars can often access medico packages with proof of future income or employment contracts. General practitioners and specialists typically qualify based on registration and income.

Can I include my private practice or locum income?

Most lenders will consider income from private practice, locum shifts and Medicare billings, provided you can supply BAS statements, tax returns and account statements. Some may use a portion of these earnings to calculate borrowing capacity.

Is 100% finance available for doctors?

In some cases, yes. If a family member provides a security guarantee or if you have additional collateral, you may borrow up to 100% of the purchase price and avoid LMI. Otherwise, you may still borrow up to 95% LVR without LMI, depending on the lender.

Are investment properties eligible for LMI waivers?

Many medico lending policies extend to investment properties, though LVR thresholds may be slightly lower (e.g., 90% LVR). Our brokers will check the lender policies and help you structure your loans accordingly.

How does this compare to generic home loans?

Doctor-specific loans often come with better terms than standard mortgages: higher borrowing power, reduced LMI or no LMI, and special rate discounts. However, the best option depends on your personal circumstances, deposit size and long-term goals.

Get in Touch with a Doctor & GP Home Loan Specialist

If you’re ready to explore how far your professional status can take you, contact Lend A Loan today. Our team specialises in home loans for doctors, general practitioners, registrars and specialists, and we understand the nuances of your income and career trajectory. We’ll provide a free assessment to determine whether you may qualify for an LMI waiver and identify the most competitive rates available.

Call 0488 220 222 or Book an online consultation with a one of our brokers, to start your journey towards owning a home or expanding your property portfolio. Let us handle the paperwork while you focus on patient care.

Disclaimer: The information contained on this page is general and does not constitute financial advice. Home loan approval and LMI waivers depend on your personal financial situation and are subject to lender assessment and National Consumer Credit Protection (NCCP) regulations and Best Interest Duty obligations.