Australian home buyer with 5% deposit
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5% Deposit. 95% LVR. Zero LMI.

For medical professionals and select occupations, specialist lenders will fund up to 95% of your property value without charging Lenders Mortgage Insurance. This is the biggest LMI saving available, often $20,000 to $60,000+ that stays in your pocket instead of going to an insurer.

95% Maximum LVR
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What Is a 95% LVR LMI Waiver?

Borrowing 95% of a property's value normally triggers the highest tier of Lenders Mortgage Insurance. On a $1 million property with a 5% deposit, that premium runs between $28,000 and $38,000. Most borrowers capitalise it onto their loan balance, meaning they also pay interest on the premium for the next 25 to 30 years.

A 95% LVR LMI waiver removes this cost entirely. Select lenders classify certain professions, primarily medical practitioners, as low-default-risk borrowers and waive the insurance requirement, even at this high loan-to-value ratio.

This is the most valuable LMI waiver tier available. Fewer lenders offer it compared to the 90% LVR waiver, but the savings are significantly larger. For early-career doctors and dentists who want to enter the property market without waiting years to build a 20% deposit, it is the fastest path to home ownership without the LMI penalty.

The true cost of LMI at 95% LVR is far higher than the upfront premium. When LMI is capitalised onto your loan (as it usually is), you pay interest on the premium for the life of the loan. On a $33,200 premium at 6.5% over 30 years, capitalisation adds roughly $42,000 in interest, bringing the true cost to over $75,000. The waiver eliminates all of it: no premium, no capitalised interest, and no impact on your borrowing power.

95% LVR home loan without LMI

How Much Could You Save at 95% LVR?

LMI premiums at 95% LVR are roughly double what you would pay at 90% LVR. Here are indicative savings based on typical Helia and QBE premium schedules.

$600,000
Loan: $570,000
Without waiver
$17,100
With waiver
$0
$800,000
Loan: $760,000
Without waiver
$24,300
With waiver
$0
$1,000,000
Loan: $950,000
Without waiver
$33,200
With waiver
$0
$1,500,000
Loan: $1,425,000
Without waiver
$60,500
With waiver
$0
$2,000,000
Loan: $1,900,000
Without waiver
$85,500
With waiver
$0

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

Commonwealth Bank
ANZ
Westpac
NAB
Macquarie Bank
ING
Bankwest
St. George
Suncorp
Bank of Queensland
AMP
Citibank
Adelaide Bank
BankSA
RAMS
Liberty Financial
ME Bank
Firstmac
Commonwealth Bank
ANZ
Westpac
NAB
Macquarie Bank
ING
Bankwest
St. George
Suncorp
Bank of Queensland
AMP
Citibank
Adelaide Bank
BankSA
RAMS
Liberty Financial
ME Bank
Firstmac
Heritage Bank
Pepper Money
La Trobe Financial
Resimac
Virgin Money
Bank Australia
Newcastle Permanent
Teachers Mutual Bank
UniBank
BankFirst
Auswide Bank
Southern Cross Credit Union
Gateway Bank
Bluestone
Better Choice
RedZed
MKM Capital
Prime Capital
Heritage Bank
Pepper Money
La Trobe Financial
Resimac
Virgin Money
Bank Australia
Newcastle Permanent
Teachers Mutual Bank
UniBank
BankFirst
Auswide Bank
Southern Cross Credit Union
Gateway Bank
Bluestone
Better Choice
RedZed
MKM Capital
Prime Capital

95% LVR vs 90% LVR: Which LMI Waiver Is Right for You?

If you have more than a 5% deposit, or if your profession only qualifies at 90% LVR, here is how the two tiers compare.

Deposit required ($1M property)
95% LVR (5% Deposit)
$50,000
90% LVR (10% Deposit)
$100,000
LMI saving
95% LVR (5% Deposit)
$28,000-$60,000+
90% LVR (10% Deposit)
$10,000-$35,000
Lenders offering waivers
95% LVR (5% Deposit)
8-12 (fewer options)
90% LVR (10% Deposit)
20+ (broad choice)
Professions with access
95% LVR (5% Deposit)
Primarily medical + select
90% LVR (10% Deposit)
15+ professions
Investment property
95% LVR (5% Deposit)
Not usually (owner-occ only)
90% LVR (10% Deposit)
Some lenders allow
Rate loading
95% LVR (5% Deposit)
0-0.2% at some lenders
90% LVR (10% Deposit)
Usually none
Max loan amount
95% LVR (5% Deposit)
$2M-$2.5M typical
90% LVR (10% Deposit)
$2M-$3M+ typical
Monthly repayment ($1M, 6.2%)
95% LVR (5% Deposit)
$5,850 ($950K loan)
90% LVR (10% Deposit)
$5,540 ($900K loan)
Speed to market
95% LVR (5% Deposit)
Faster (less deposit to save)
90% LVR (10% Deposit)
Slightly slower

For medical professionals with limited savings, 95% LVR gets you into the market sooner with the largest savings. For professionals who already have 10% or whose profession caps at 90%, the 90% LVR tier offers more lender choice and potentially better rates.

Not Sure Which Path Is Right for You?

Our free eligibility check compares both government and professional waiver options in 60 seconds.

2 Professional Waivers

Which Professions Qualify at 95% LVR?

The 95% LVR LMI waiver is more restrictive than the 90% LVR tier. Not every profession that qualifies for an LMI waiver can access the full 95%.

Medical professionals registered with AHPRA have the broadest access to 95% LVR, with 8-12 lenders offering waivers at this tier. This reflects the medical profession's historically low mortgage default rates, stable income trajectory, and near-guaranteed employment demand. Dentists and veterinarians can access 95% through 4-6 lenders, while optometrists have similar access.

Some lenders may offer 95% LVR to lawyers and accountants in specific circumstances (10-15 lenders offer waivers for these professions at 90% LVR). It depends on the lender's policy, your income, and the loan amount. This is where having a broker who specialises in LMI waivers makes a real difference.

Not a first home buyer?

Professional LMI waivers are available to any qualifying professional — upgraders, downsizers, and second home buyers included. The government scheme is not available to you, but a professional waiver offers the same savings with no restrictions on purchase history.

Professions eligible at 95% LVR (5% deposit)

Professions typically capped at 90% LVR (10% deposit)

LVR limits vary between lenders. A mortgage broker can identify the best option for your specific situation.

When 95% LVR Makes Sense

  • You are in a qualifying profession (particularly medicine) and want to buy sooner rather than waiting years to build a 20% deposit
  • Property prices in your target area are rising and waiting to save more deposit would cost you more than any rate loading
  • You have strong income but have not had time to accumulate savings (common for early-career doctors and dentists completing training)
  • The deposit difference ($50K on a $1M property) is better deployed elsewhere: paying off HECS-HELP, investing, or covering renovation costs
  • You want to lock in a property before prices increase further, particularly in competitive markets like Sydney, Melbourne, and Brisbane

Rate Loading at 95% LVR: Is It Worth It?

Some lenders charge a small interest rate premium for loans above 90% LVR, regardless of whether LMI is waived. Understanding this cost helps you make a fully informed decision.

1

What is rate loading?

Your path: 0.1% to 0.2% added to your interest rate

Rate loading is a small premium some lenders add to the interest rate for loans above 90% LVR, even when LMI is waived. This is standard credit pricing, not a penalty for the waiver. On a $950,000 loan, a 0.15% loading adds roughly $70/month to repayments compared to no loading.

2

Rate loading vs paying LMI: the comparison

Your path: LMI waiver with loading still saves tens of thousands

On a $950,000 loan at 6.35% (with 0.15% loading), you pay approximately $1,181,200 in total interest over 30 years. Paying LMI of $33,200 capitalised at 6.20% costs $1,222,000 in total interest. Even with the rate loading, you are approximately $40,000 better off with the LMI waiver.

3

Rate loading falls away over time

Your path: Typically removed within 5 to 7 years

The rate loading typically falls away once your LVR drops below 80% (either through repayments or property value growth). This usually happens within 5 to 7 years. Capitalised LMI, by contrast, stays on your loan balance for 25 to 30 years until fully repaid.

4

Not all lenders apply rate loading

Your path: Compare total cost across lenders

Some lenders offer 95% LVR LMI waivers with zero rate loading. We compare both total cost (rate plus fees plus any loading) and the rate loading specifically to find the cheapest option for your situation.

Real-World Savings at 95% LVR

See what real savings look like for different medical professionals across Australia.

Dr Priya
GP Registrar, First Home Buyer in Sydney
Property $1,100,000 apartment
Location Chatswood, NSW
Deposit 5% ($55,000)
Loan $1,045,000 at 95% LVR
LMI Without Waiver
~$44,000
You Save
$44,000 (plus ~$56,000 in avoided interest if capitalised over 30 years)

Priya qualified through her AHPRA registration as a PGY3 registrar earning $180,000. The lender accepted her current hospital contract and training pathway. She chose a lender with no rate loading at 95% LVR.

Dr Tom and Dr Sarah
Dual-Income Specialists in Melbourne
Property $1,800,000 house
Location Brighton East, VIC
Deposit 5% ($90,000)
Loan $1,710,000 at 95% LVR
LMI Without Waiver
~$72,000
You Save
$72,000

As dual medical specialists, they qualified at 95% LVR with a $2.5M loan cap lender. They chose to put 5% down and invest their remaining savings rather than stretching to a 20% deposit of $360,000. The $72,000 LMI saving, combined with the $270,000 they kept invested rather than using as deposit, gives them significant financial flexibility.

Dr Raj
Dentist, First Home Buyer in Brisbane
Property $850,000 townhouse
Location Coorparoo, QLD
Deposit 5% ($42,500)
Loan $807,500 at 95% LVR
LMI Without Waiver
~$27,000
You Save
$27,000

As a first home buyer, Raj was eligible for both the First Home Guarantee and a professional LMI waiver. After comparing both paths, the professional waiver offered a lower interest rate because it opened up lenders not participating in the government scheme.

Not a Professional? Other Ways to Avoid LMI at 95% LVR

If you don't work in a qualifying profession, you can still avoid LMI with a 5% deposit through these paths.

First Home Guarantee (Government Scheme)

The Australian Government's First Home Guarantee allows eligible first home buyers to purchase with as little as 5% deposit. The government guarantees the gap between your deposit and 80% LVR, so the lender does not require LMI. Administered by Housing Australia, the scheme has had no income caps and unlimited places since October 2025. Property price caps still apply (e.g., $1.5M in Sydney, $950K in Melbourne, $1M in Brisbane). This is the best option for first home buyers who are not in a qualifying profession and are buying below the price cap for their state.

Read the full 5% deposit guide

Guarantor Home Loans

A family member (usually a parent) uses equity in their property as additional security for your loan. This can allow borrowing up to 100% of the property value with no LMI. The guarantor does not make your repayments, but their property is at risk until the guarantee is released (typically when your LVR drops below 80% through repayments or property growth). Most major banks and many smaller lenders offer guarantor products. No profession qualification is required.

Postcode-Based LMI Waivers

Some lenders waive LMI for properties in specific postcodes, regardless of your profession. These are typically high-value, low-risk areas where the lender considers the property itself as sufficient security. The waiver may apply at up to 95% LVR in select postcodes, though availability is limited and policies change regularly. If you are buying in an established area with strong property values, ask whether a postcode-based waiver applies. This is a less well-known option that can save thousands.

Can Interns and Registrars Qualify?

Early-career medical professionals are a key audience for 95% LVR LMI waivers. Here is what lenders look for.

1

Medical Interns and Residents (PGY1-PGY2)

Many lenders include medical interns and residents in their 95% LVR LMI waiver policies. Some may cap very early career doctors (PGY1) at 90% LVR, but others are more flexible, particularly if you can demonstrate a signed employment contract and career pathway.

  • AHPRA registration (provisional or general) is the key requirement
  • Signed employment contract with a public or private hospital
  • Most lenders accept hospital rotations as stable employment
  • Income from hospital employment (including overtime, allowances) counts toward serviceability
2

Registrars and Advanced Trainees (PGY3+)

Registrars and advanced trainees have broader access to 95% LVR waivers. Most lenders treat them equivalently to fully qualified practitioners for LMI waiver purposes.

  • Full AHPRA registration (general or specialist)
  • Training pathway documentation may be requested but is straightforward
  • Income typically $150,000+ including allowances, meeting most lender thresholds
  • Multiple lender options available, giving genuine rate competition
3

Lender Landscape at 95% LVR

Not all lenders offer LMI waivers at 95% LVR. The ones that do tend to be major banks with dedicated professional packages or specialist non-bank lenders targeting high-income borrowers.

  • Medical doctors have the widest choice: 8-12 lenders offer 95% LVR waivers
  • Most lenders restrict 95% to owner-occupied: investment buyers generally need at least 10% deposit
  • Loan caps vary from $2M to $2.5M+; if borrowing above $2M, the lender shortlist narrows
  • Some lenders have no rate loading at all; others add 0.1-0.2%
  • We compare 50+ lenders to match your profession with the best rate, features, and loan cap

How to Get Your LMI Waived at 95% LVR

The LMI waiver is applied during the standard loan approval process. No separate application, no additional paperwork.

1

Check Your Eligibility (60 Seconds)

Use our free eligibility tool to instantly see which lenders offer 95% LVR LMI waivers for your profession and borrowing amount. You will need your profession, approximate income, and target property price.

2

We Compare the Best 95% LVR Deals

We compare the lenders that offer 95% LVR waivers for your profession, focusing on interest rate (including any rate loading), borrowing capacity, loan features, and total cost over 5, 10, and 30 years.

3

Settle With Zero LMI

Your home loan settles at 95% LVR without a cent in Lenders Mortgage Insurance. That is potentially $20,000 to $60,000+ saved. The typical timeline from first enquiry to settlement is 4 to 8 weeks.

Eligibility Requirements for 95% LVR

  • Qualifying profession: medical doctors have the broadest access. Dentists, veterinarians, and optometrists qualify with most lenders. Other professions may access 95% through select lenders.
  • Professional registration: current registration with the relevant body. For medical professionals, this means AHPRA. Some lenders accept provisional or limited registration for interns and registrars.
  • Minimum income: typically $150,000+ gross annual income. Some lenders set this lower for medical professionals in specific training pathways.
  • Loan amount within lender cap: most lenders cap 95% LVR loans at $2M to $2.5M. If you need to borrow more, increasing your deposit to 10% may open up higher loan limits at 90% LVR.
  • Owner-occupied property: nearly all lenders require 95% LVR purchases to be your primary residence.
  • Standard residential property: houses, townhouses, apartments (subject to minimum size). Rural properties, serviced apartments, and commercial properties are excluded.
  • Clean credit history: no defaults, no judgements, no Part IX debt agreements.
  • Genuine savings: at least 5% of the property value held for 3+ months. Some lenders are more flexible for medical professionals.

The 95% LVR waiver is more restrictive than 90% LVR. Fewer lenders offer it, and most require owner-occupied purchases. Medical professionals have the broadest access. Interns and registrars can often qualify with a signed employment contract and AHPRA registration.

95% LVR No LMI FAQs

Common questions about buying with a 5% deposit and no LMI.

Which professions qualify for 95% LVR no LMI?
Medical doctors (including GPs, specialists, surgeons, registrars, and residents) have the widest access to 95% LVR LMI waivers. Dentists, veterinarians, and optometrists can also access 95% LVR through select lenders. Other professions such as lawyers, accountants, and engineers typically qualify at 90% LVR. The exact LVR limit depends on the lender.
How much does LMI cost at 95% LVR?
LMI at 95% LVR typically costs 3% to 4.5% of the loan amount, depending on the insurer and property type. On a $950,000 loan (95% of a $1M property), expect $28,000 to $38,000. This is roughly double the LMI cost at 90% LVR. When capitalised onto the loan, the true cost increases by 50% or more due to interest charged on the premium. Use our LMI calculator for a personalised estimate.
Can I use a 95% LVR LMI waiver for an investment property?
Most lenders restrict 95% LVR LMI waivers to owner-occupied properties only. If you are purchasing an investment property, you will typically need at least a 10% deposit to access an LMI waiver (at 90% LVR), or 15% for a wider range of lenders (at 85% LVR). We compare all available options for your profession and purchase type.
Is the interest rate higher when borrowing at 95% LVR?
Some lenders apply a rate loading of 0.1% to 0.2% for loans above 90% LVR, even when LMI is waived. This is standard credit pricing, not a penalty for the waiver. However, even with loading, you are still tens of thousands of dollars better off than paying the LMI premium. Not all lenders apply loading. We compare total cost to find the cheapest option.
Can interns and registrars get 95% LVR no LMI?
Yes. Many lenders include medical interns, residents, and registrars in their 95% LVR LMI waiver policies. Some lenders may cap PGY1 doctors at 90% LVR, while others approve 95% as long as you have AHPRA registration and a signed employment contract. We identify which lenders are most flexible for early-career doctors.
What is the maximum loan amount at 95% LVR with no LMI?
Maximum loan amounts vary by lender. Most cap 95% LVR loans at $2M to $2.5M for medical professionals. Some specialist lenders go higher. If you need to borrow above the cap, increasing your deposit to access the 90% LVR tier may unlock higher loan limits.
What is the difference between 95% and 90% LVR LMI waivers?
The 95% LVR waiver requires only a 5% deposit and saves $28,000 to $60,000+ in LMI. The 90% LVR waiver requires a 10% deposit and saves $10,000 to $35,000. Fewer lenders and professions qualify at 95% compared to 90%. The 90% tier offers more lender choice, lower monthly repayments, and access for a wider range of professions.
Can I get 95% LVR no LMI if I am not a doctor?
Possibly. While medical doctors have the broadest access, dentists, veterinarians, and optometrists can also access 95% LVR through select lenders. Some lenders extend 95% to lawyers and accountants in specific circumstances. If your profession is not eligible at 95%, the 90% LVR waiver with a 10% deposit is available across 20+ lenders for 15+ professions. First home buyers in any profession can explore the First Home Guarantee for a government-backed path to 5% deposit with no LMI.
Do I need AHPRA registration to get a 95% LVR LMI waiver?
For medical, dental, and allied health professionals, yes. AHPRA registration is the standard proof of qualification that lenders require. For non-medical professions that may access 95% LVR, the relevant professional body registration applies (e.g., state Law Society for lawyers, CPA Australia or CA ANZ for accountants). Provisional or limited registration is accepted by some lenders for early-career practitioners.
Is 95% LVR the same as a 5% deposit home loan?
Yes, 95% LVR means you are borrowing 95% of the property value, which requires a 5% deposit to cover the remaining balance. However, the deposit only covers the purchase price. You will also need funds for stamp duty (which varies by state and can be substantial), legal and conveyancing fees, building and pest inspections, and other purchase costs. First home buyers may have access to stamp duty exemptions or concessions that significantly reduce the total cash required. Budget approximately 2% to 5% of the property price for costs on top of your deposit.

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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 premium schedules as of 2026. The 95% LVR LMI waiver is available from select lenders only. Always obtain personalised advice before making financial decisions.