Australian doctor reviewing home loan options
Medical Professionals — Up to 95% LVR

Doctors Can Save $34,000–$61,000 on Their Home Loan

As an AHPRA-registered medical practitioner, you qualify for the most generous LMI waiver terms available to any profession in Australia. Every major lender offers a medico policy that waives Lenders Mortgage Insurance for doctors — from GPs and specialists to surgeons, registrars, and hospital medical officers. Borrow up to 95% LVR with no LMI and keep tens of thousands in your pocket.

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How Much Could You Save?

Indicative LMI savings for doctors borrowing at 95% LVR. Based on typical Helia/QBE premiums.

Starter home

$750,000 property

$34,000

saved on LMI

Family home

$1,000,000 property

$46,000

saved on LMI

Premium home

$1,500,000 property

$61,000

saved on LMI

See Your Estimated Savings

We compare 50+ lenders to find you the lowest rate

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

What Does Lenders Mortgage Insurance Mean for Doctors?

Lenders Mortgage Insurance (LMI) is a one-off premium charged when you borrow more than 80% of a property's value. It can cost anywhere from $10,000 to $40,000+ depending on your loan size and deposit.

Here's the important part: LMI protects the lender, not you. You pay the cost, but receive no personal benefit. It exists solely because lenders consider a lower deposit as higher risk for them.

The good news for doctors? Many Australian lenders will completely waive LMI for professionals in approved occupations. That means you can buy with a smaller deposit and keep thousands of dollars that would otherwise go to an insurance premium you'd never benefit from.

Learn more about LMI

Could You Save on LMI?

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Which Doctors Qualify for an LMI Waiver?

Lenders classify AHPRA-registered medical practitioners as among the lowest-risk borrowers in Australia. Decades of lending data show that doctors have exceptionally low mortgage default rates — driven by strong income stability, high earning trajectories, secure employment demand, and the professional regulation that AHPRA provides. This is why every major Australian lender maintains a dedicated medico policy that waives Lenders Mortgage Insurance for doctors, offering access to 95% LVR — the highest tier available for any profession.

Qualifying Roles

  • General Practitioners (GPs)
  • Specialist Physicians
  • Surgeons (all surgical specialties)
  • Anaesthetists
  • Psychiatrists
  • Radiologists and Radiation Oncologists
  • Pathologists
  • Obstetricians and Gynaecologists
  • Paediatricians
  • Ophthalmologists
  • Dermatologists
  • Emergency Medicine Doctors
  • Registrars, Residents, and Hospital Medical Officers
  • International Medical Graduates (IMGs) with current AHPRA registration

Typical Requirements

  • Registered with AHPRA as a medical practitioner — general or specialist registration qualifies with all lenders. CBA also accepts provisional registration (interns, residents, supervised doctors), while ANZ and some other lenders require general or specialist registration only
  • Currently practising or employed in a medical role — including hospital-based, private practice, locum arrangements, and academic medicine positions
  • Meeting the lender's income requirements — many lenders have no minimum income threshold for AHPRA-registered doctors, while others set a floor between $90,000 and $150,000 gross annual income. Unlike most other professions, doctors often face no income barrier to LMI waiver eligibility
  • Borrowing within the lender's tiered loan caps — ANZ allows up to $7.6M on a single security, NAB up to $4.5M at 95% LVR, CBA up to $2.375M at 95% LVR. Higher loan amounts may be available at 90% LVR
  • Owner-occupied property for 95% LVR — investment properties are available with multiple lenders, typically capped at 90% LVR with tighter loan limits

Interns in their first year of practice may have limited lender options — CBA accepts provisional AHPRA registration, but ANZ and several other lenders require general or specialist registration. Non-practising registration and student registration do not qualify with any lender. International medical graduates (IMGs) with current AHPRA registration (general, specialist, or limited registration in an approved hospital position) qualify with most lenders, though some require Australian Medical Council (AMC) recognition. Locum doctors qualify but typically need one to two years of consistent locum income history. For joint applications, most lenders require the doctor to hold at least a 50% property interest.

Check If You Qualify

LVR & Deposit Options for Doctors

How much deposit do you need? With an LMI waiver, far less than you might think.

Maximum Savings

95% LVR — No LMI

5% deposit required

  • Borrow up to 95% of the property value — no LMI
  • Only 5% deposit required, saving you up to $61,000 on a $1.5M property
  • Available from ANZ, CBA, NAB, Westpac, and other select lenders under medico policies
  • Loan caps range from $1M to $7.6M depending on the lender (ANZ offers the highest limits)
Learn about 95% LVR options Most Popular

90% LVR — No LMI

10% deposit required

  • Borrow up to 90% of the property value — no LMI
  • The most widely available LMI waiver tier for medical professionals
  • Higher loan caps and broader lender selection than 95% LVR
  • Available from 20+ lenders including Macquarie, St. George, BOQ, Granite Home Loans, and Auswide
Learn about 90% LVR options

Income Assessment for Doctors

How lenders assess your income depends on whether you're a salaried hospital doctor, a GP in private practice, a locum, or a practice owner. Medical income structures vary significantly across career stages — from a registrar's base salary with overtime to a specialist's mix of private billings, hospital sessions, and consulting fees. Understanding these assessment methods helps you maximise borrowing power and choose the right lender for your situation.

PAYG / Salaried Doctors

  • Base salary plus regular allowances (rural loading, professional development) used as primary income
  • Overtime and on-call payments may be included — typically at 80% of the two-year average where consistently earned
  • Two most recent payslips, employment contract, and AHPRA registration confirmation required
  • Registrar and resident rotations are accepted — lenders recognise the structured nature of medical training pathways
  • Fastest path to approval — typically three to five business days for PAYG applicants

Self-Employed / Practice Owners / Locum Doctors

  • Minimum two years of tax returns and full practice financials required by most lenders
  • Private billings, practice drawings, and salary from practice entity are all assessed
  • Add-backs for depreciation, personal superannuation contributions, and non-cash practice expenses considered
  • Some lenders accept one year of financials for established practices with strong and consistent revenue
  • Locum doctors typically need one to two years of consistent locum income history — lenders assess based on contract continuity and income regularity
Locum doctors and contractors face unique income assessment challenges — irregular contracts, varying hourly rates, and income from multiple health services. A small number of lenders specialise in assessing locum income and can offer more favourable treatment than standard assessment policies. We match locum doctors with these lenders to maximise borrowing power without unnecessary income haircuts. If you're transitioning from locum to a permanent position (or vice versa), timing your application correctly can make a significant difference.

How to Get Your LMI Waived

Three simple steps between you and saving thousands.

1

Check Your Eligibility

Tell us your profession and borrowing needs. Our free tool takes 60 seconds and checks your eligibility across 50+ lenders.

2

We Match You With a Lender

We compare lender policies to find the best LMI waiver for your situation — maximising your borrowing power and minimising your costs.

3

Settlement, No LMI

Your home loan settles without paying a cent in Lenders Mortgage Insurance. That's thousands of dollars saved, straight away.

Doctors LMI Waiver FAQs

Common questions about LMI waivers for doctors.

Do all doctors qualify for an LMI waiver?
Most AHPRA-registered medical practitioners qualify, including GPs, specialists, surgeons, registrars, residents, and hospital medical officers. You must hold current AHPRA registration — general or specialist registration qualifies with all lenders, while provisional registration (interns, supervised doctors) is accepted by CBA and some other lenders but not by ANZ. Non-practising and student registrations do not qualify. Use our eligibility check to confirm your qualification in 60 seconds.
How much can doctors save by waiving LMI?
At 95% LVR (5% deposit), a doctor purchasing a $750,000 property could save approximately $34,000 in Lenders Mortgage Insurance. For a $1 million property, savings reach around $46,000, and for a $1.5 million property, over $61,000. At 90% LVR (10% deposit), savings are lower but still substantial — typically $14,000 to $30,000 depending on property price and lender. Use our LMI savings calculator to estimate your exact figure.
What's the maximum LVR for doctors?
Select lenders offer up to 95% LVR with no Lenders Mortgage Insurance for AHPRA-registered doctors — requiring only a 5% deposit. This is the highest LVR tier available for any profession. Loan caps at 95% range from $1M to $7.6M depending on the lender (ANZ offers the highest limits). The most widely available tier is 90% LVR, offered by 20+ lenders with even higher loan caps.
Can interns and first-year doctors get an LMI waiver?
Yes, but with fewer lender options. CBA accepts provisional AHPRA registration, meaning interns, residents in their first year, and supervised doctors can access LMI waivers. ANZ and some other lenders require general or specialist registration, which typically isn't granted until after the intern year. If you're a first-year intern, a broker can identify lenders that accept your current registration type. Once you receive general registration, your lender options expand significantly.
Do registrars and residents qualify for LMI waivers?
Yes. Registrars and residents with general AHPRA registration qualify with virtually all lenders offering medico policies. Most lenders offer the full 95% LVR tier to registrars. A small number may cap registrars at 90% LVR or require a minimum period post-graduation (typically one to two years). Lenders recognise the structured nature of specialist training pathways and the strong income trajectory that follows.
What if I'm a locum doctor — do I still qualify?
Locum doctors with current AHPRA registration qualify for LMI waivers. The waiver itself is based on your professional registration, not your employment type. However, income assessment works differently — lenders typically want to see one to two years of consistent locum income history to confirm borrowing capacity. Some lenders specialise in locum income assessment and can offer more favourable treatment. We match locum doctors with these lenders.
Can I use the LMI waiver for an investment property?
Multiple lenders extend LMI waivers to investment properties for AHPRA-registered doctors, though the maximum LVR is typically capped at 90% rather than 95%. Loan caps for investment properties may also be lower. Doctors have broader investment property LMI waiver access than most other professions. If you're considering an investment property, check our deposit options page for strategies.
I qualified overseas — do I still qualify for an LMI waiver?
International medical graduates (IMGs) with current AHPRA registration qualify for medico LMI waivers. Your overseas qualification itself is not assessed — what matters is your current Australian registration status. If you hold general, specialist, or limited registration (in an approved hospital position), you are eligible with most lenders. Some lenders additionally require Australian Medical Council (AMC) recognition. Permanent residency or Australian citizenship is generally required, though some lenders accept qualifying visa holders.
Do I need a minimum income to qualify?
Many major lenders have no minimum income requirement for AHPRA-registered doctors — eligibility is based on your professional registration rather than a specific income floor. This is a significant advantage over other professions, where income thresholds of $100,000–$150,000 are common. A small number of lenders do set a minimum between $90,000 and $150,000. Your income still affects borrowing capacity (how much you can borrow), even when it doesn't affect LMI waiver eligibility.
Can I apply jointly with a non-doctor partner?
Yes. Joint applications with a non-medical spouse or partner are accepted by most lenders offering medico LMI waivers. The doctor typically needs to hold at least a 50% interest in the property — an equal or majority ownership share. Both incomes contribute to loan serviceability, increasing your borrowing power. Some lenders are more flexible on ownership split requirements than others.
What documentation do I need to apply?
Standard documentation includes: current AHPRA registration confirmation (printable from the AHPRA online register), two most recent payslips or payment summaries, employment contract or letter confirming your role and employment type, most recent tax return (especially for self-employed or practice owners), evidence of your deposit and savings, and standard identity documents. Practice owners will also need two years of full business financials. Locum doctors should provide contracts and income records from the past one to two years.
Will the LMI waiver affect my interest rate?
No. The LMI waiver does not change your interest rate — you receive the same rate as any other borrower at your LVR tier. Many lenders also offer professional medico home loan packages that include competitive rate discounts alongside the LMI waiver, potentially saving you even more over the life of the loan. These rate discounts are separate from and additional to the LMI waiver benefit.
What's the maximum loan amount for doctors?
Loan caps vary significantly by lender and LVR tier. At 95% LVR, caps range from $1M (some smaller lenders) to $7.6M (ANZ) on a single security. NAB offers up to $4.5M at 95% LVR, and CBA up to $2.375M. At 90% LVR, caps are generally higher — providing more headroom for premium property purchases. A broker can identify the lender with the highest loan cap for your specific situation.
Do I need genuine savings for the deposit?
Requirements vary by lender. Some require genuine savings (funds held in your account for at least three months), while others accept gifted deposits, equity from an existing property, or other non-genuine savings sources for qualifying medical professionals. At 95% LVR, genuine savings requirements are more common than at 90% LVR. A broker can match you with lenders that accept your specific deposit source.
How do doctors compare to other professions for LMI waiver access?
Doctors receive the most generous LMI waiver terms of any profession in Australia. No other profession matches the combination of 95% LVR access, the highest loan caps (up to $7.6M), the widest lender selection (20+ lenders), and the fewest income restrictions (many lenders have no minimum income). Dentists receive equivalent terms under the same medico policies. Accountants and lawyers can access 95% LVR but typically with lower loan caps and stricter income requirements.
How quickly can I get approved?
Check your eligibility in 60 seconds with our free eligibility tool. The LMI waiver is applied automatically as part of your home loan application — there is no separate approval process. Full loan approval typically takes three to five business days for PAYG doctors and five to ten business days for self-employed practice owners or locum doctors, depending on the lender and complexity of your financials.

LMI Waivers for Other Professions

Not a match? See which other professionals qualify for LMI waivers.

Dentists LMI waiver
Up to 95% 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.

Learn more
Nurses LMI waiver
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.

Learn more
Lawyers LMI waiver
Up to 95% 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.

Learn more
Accountants LMI waiver
Up to 95% LVR

Accountants

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

Learn more
View all qualifying professions

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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. Figures shown are indicative only and based on typical lender policies as of 2026. Lender-specific loan caps referenced (ANZ, NAB, CBA) are subject to change. AHPRA registration requirements vary by lender. Always obtain personalised advice before making financial decisions.