Best Rates & Flexibility

15% Deposit. Zero LMI. Best Rates Available.

With 15% deposit, you're just 5% short of avoiding LMI altogether — but you don't have to wait. An LMI waiver gives you zero insurance costs, access to 30+ lenders, and the most competitive rates of any LMI waiver tier.

15% Deposit needed

$19K+ Potential savings

30+ Lenders available

Check Your Eligibility Free, 60 Seconds

Free, no obligation Result in 60 seconds 50+ lenders compared

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Why Buy Now With 15% Instead of Waiting for 20%?

You've saved 15% of your property's value. You're close to the magic 20% — but that last 5% could take another 6 to 12 months. Meanwhile, property prices keep moving, rent keeps draining your savings, and you're watching from the sidelines.

Without an LMI waiver, buying at 15% deposit means paying a Lenders Mortgage Insurance premium — typically $4,000 to $19,000 depending on your property price. This is added to your loan balance, increasing what you owe and what you repay each month.

With an LMI waiver, that cost vanishes. You buy now with 15% deposit, pay zero LMI, and get access to the widest range of lenders and most competitive rates of any LMI waiver tier. For qualifying professionals, there's no financial reason to wait for 20% when you can buy at 15% with the same outcome.

15% Deposit: What Could You Save on LMI?

Compare the cost of buying with 15% deposit — with and without an LMI waiver.

Property Price	Loan Amount	LMI (Without Waiver)	LMI (With Waiver)
$600,000	$510,000	$4,600	$0
$800,000	$680,000	$6,800	$0
$1,000,000	$850,000	$9,200	$0
$1,500,000	$1,275,000	$18,700	$0

$600,000

Loan: $510,000

Without waiver

$4,600

With waiver

$800,000

Loan: $680,000

Without waiver

$6,800

With waiver

$1,000,000

Loan: $850,000

Without waiver

$9,200

With waiver

$1,500,000

Loan: $1,275,000

Without waiver

$18,700

With waiver

We compare 50+ lenders to find you the best LMI waiver

Which Professions Can Buy With 15% Deposit?

Almost all LMI waiver professions qualify at 15% deposit — this tier has the broadest lender support.

Up to 95% LVR

Doctors

AHPRA-registered medical practitioners — including GPs, specialists, surgeons, and registrars — can borrow up to 95% LVR with no Lenders Mortgage Insurance.

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Up to 90% LVR

Dentists

AHPRA-registered dental practitioners — including general dentists and all 13 recognised specialties — can borrow up to 95% LVR with no Lenders Mortgage Insurance.

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Up to 90% LVR

Lawyers

Admitted legal practitioners — solicitors, barristers, partners, and in-house counsel — can borrow up to 95% LVR without paying Lenders Mortgage Insurance through select lenders.

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Up to 90% LVR

Accountants

Qualified accountants — including CA, CPA, CFA, and FIAA members — can borrow up to 95% LVR without paying Lenders Mortgage Insurance.

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Up to 90% LVR

Engineers

Qualified engineers across civil, mechanical, mining, electrical, and other disciplines can access LMI waivers up to 95% LVR with select lenders.

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Up to 90% LVR

Health Professionals

AHPRA-registered allied health professionals — pharmacists, physiotherapists, optometrists, psychologists, and more — can borrow up to 95% LVR with no Lenders Mortgage Insurance through select lenders.

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Up to 90% LVR

Nurses

AHPRA-registered nurses and midwives — including RNs, nurse practitioners, clinical nurse specialists, and midwives — can borrow up to 90% LVR without paying Lenders Mortgage Insurance through Westpac, St. George, and other lenders.

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Up to 85% LVR

Paramedics

AHPRA-registered paramedics and ambulance officers can borrow up to 90% LVR without paying Lenders Mortgage Insurance through People's Choice, Granite Home Loans, and other participating lenders.

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Up to 85% LVR

Teachers

Registered teachers and educators — including primary, secondary, university, TAFE, and early childhood educators — can borrow up to 90% LVR without paying Lenders Mortgage Insurance through Bank First, Granite Home Loans, and other lenders.

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Up to 85% LVR

Police Officers

Sworn police officers — from constables to superintendents, detectives, and federal police — can borrow up to 90% LVR without paying Lenders Mortgage Insurance through BankVic, People's Choice, and other participating lenders.

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Up to 85% LVR

Public Servants

Australian public servants — federal, state, and local government employees — can borrow up to 85% LVR without paying Lenders Mortgage Insurance through select lenders recognising government employment stability.

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Up to 85% LVR

IT Professionals

Qualified IT professionals — software engineers, data scientists, cybersecurity specialists, cloud architects, and more — can borrow up to 95% LVR without paying Lenders Mortgage Insurance through Granite Home Loans.

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Up to 85% LVR

Bank Employees

Australian bank and financial services employees may qualify for LMI waivers borrowing up to 85% LVR with select lenders.

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Could You Save on LMI?

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How to Buy With 15% Deposit and No LMI

Three steps to getting into your own home — without waiting for 20%.

Check Your Eligibility

Enter your profession and borrowing details. We'll show you which lenders offer 15% deposit LMI waivers for your occupation — over 30 options in most cases.

We Find Your Best Deal

With the widest lender choice available, we compare rates, features, and borrowing power to find the loan that gives you the best overall outcome.

Settle and Start Building Equity

Your loan settles with 15% deposit and zero LMI. Instead of spending months saving that last 5%, you're already building equity in your own home.

What You Need to Buy With 15% Deposit

Employed in a qualifying profession recognised by LMI waiver lenders
Registered with the relevant professional body
Meet the lender's minimum income threshold (typically $100K–$150K+)
Have at least 15% of the property value saved as genuine savings
Property must be standard residential (houses, units, townhouses)
Owner-occupied or investment (most lenders accept both at 85% LVR)

At 15% deposit, lenders are at their most flexible — higher loan caps, more property types accepted, and investment properties widely supported. This is the strongest position to negotiate the best deal.

15% Deposit No LMI FAQs

Common questions about buying with a 15% deposit and no LMI.

How much deposit do I actually need in dollar terms?

15% of the property value. For a $600,000 property, that's $90,000. For $800,000, it's $120,000. For $1 million, it's $150,000. You'll also need to budget for purchase costs — typically 2%–5% of the property price — though first home buyers may have stamp duty exemptions.

Should I just wait and save the full 20%?

With an LMI waiver, the main advantage of 20% deposit is gone — you already avoid LMI at 15%. Waiting 6–12 months to save the extra 5% means more rent paid, and property prices may rise faster than your savings. Most professionals are better off buying now and starting to build equity.

Is the interest rate better at 15% deposit vs 10%?

Often, yes. Many lenders offer slightly better pricing at 85% LVR (15% deposit) compared to 90% LVR (10% deposit). The difference is typically 0.05%–0.15%, which over 30 years can save thousands in interest on top of the LMI savings.

Can I get a 15% deposit LMI waiver for an investment property?

Yes — 15% deposit (85% LVR) is the tier where most lenders are comfortable extending LMI waivers to investment properties. This makes it the best option for professionals buying investment property who want to avoid LMI.

What counts as genuine savings for 15% deposit?

Genuine savings are funds held for at least 3 months — including regular savings, term deposits, shares, managed funds, and equity in existing property. Tax refunds and bonuses count if held for the required period. Gifts from family may be accepted by some lenders.

I have exactly 15% — what about stamp duty and other costs?

Your 15% deposit covers the property purchase, but you'll need additional funds for stamp duty (varies by state), legal/conveyancing fees ($1,500–$3,000), building and pest inspections, and other settlement costs. First home buyers may be exempt from stamp duty. For a full breakdown of buying costs, visit ASIC's Moneysmart. We'll help you budget for the full purchase.

What if I have between 10% and 15% deposit?

If you have more than 10% but less than 15%, you still qualify for a 90% LVR LMI waiver. Any extra deposit above 10% reduces your loan amount and may improve your rate. We'll find the best option for your exact deposit amount.

Other Deposit Options

Explore other ways to save on Lenders Mortgage Insurance.

15% deposit

85% LVR No LMI

Borrow 85% LVR with no LMI. 30+ lenders, 15% deposit, savings of $4,000 to $19,000+. Compare professional waivers vs direct lender products. Free eligibility check in 60 seconds.

Learn more 10% deposit

10% Deposit No LMI

Buy a home with just 10% deposit and pay zero LMI. Professionals save $8,000 to $35,000+. Compare 20+ lenders, check eligibility in 60 seconds.

Learn more 10% deposit

Refinance to Remove LMI

Already paying LMI on your home loan? Qualifying professionals can refinance to remove LMI and save thousands. Free eligibility check, 60 seconds.

Learn more

Ready to Save Thousands on Your Home Loan?

Find out if your profession qualifies for an LMI waiver. It's free, takes 60 seconds, and there's no obligation.

Check Your Eligibility

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The information on this page is general in nature and does not constitute financial advice. LMI waiver eligibility, savings estimates, and loan terms vary between lenders and are subject to individual assessment. LMI cost estimates are indicative only, based on typical Helia/QBE premiums as of 2024. Deposit requirements exclude purchase costs (stamp duty, legal fees, etc.). Always obtain personalised advice before making financial decisions.