Australian health professional exploring home loan options
Allied Health Professionals — Up to 95% LVR

Health Professionals Can Save $10,000–$20,000 on Their Home Loan

If you're an AHPRA-registered allied health professional — pharmacist, physiotherapist, optometrist, psychologist, occupational therapist, or other qualified practitioner — Australian lenders recognise your professional standing and career stability. Select lenders will waive Lenders Mortgage Insurance entirely, with some offering up to 95% LVR for qualifying allied health roles.

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How Much Could You Save?

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

Starter home

$600,000 property

$10,400

saved on LMI

Family home

$750,000 property

$14,400

saved on LMI

Premium home

$1,000,000 property

$20,100

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 Health Professionals?

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 health professionals? 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 Health Professionals Qualify for an LMI Waiver?

Australian lenders increasingly recognise AHPRA-registered allied health professionals as stable, low-risk borrowers. The combination of regulated professional standards, consistent healthcare demand, and strong employment across public and private sectors means allied health practitioners benefit from some of the same lending advantages previously reserved for doctors and dentists. AHPRA regulates 16 health professions across 15 National Boards — and practitioners registered under most of these boards can now access LMI waivers. Pharmacists, physiotherapists, and optometrists generally have the broadest lender support, while other allied health disciplines qualify with specialist and select mainstream lenders.

Qualifying Roles

  • Pharmacists (broadest access — up to 95% LVR with CBA, NAB, and Granite)
  • Physiotherapists
  • Optometrists
  • Psychologists and Clinical Psychologists
  • Occupational Therapists
  • Speech Pathologists
  • Radiographers and Medical Imaging Professionals (Sonographers, Radiation Therapists)
  • Podiatrists
  • Chiropractors
  • Osteopaths
  • Veterinarians (not AHPRA-registered but included under many lender health professional policies)
  • Chinese Medicine Practitioners (select lenders)
  • Aboriginal and Torres Strait Islander Health Practitioners (select lenders)
  • Audiologists (select lenders — not AHPRA-regulated but accepted by some under allied health policies)

Typical Requirements

  • Registered with AHPRA under the relevant National Board — general or specialist registration. Provisional, limited, and non-practising registrations typically do not qualify. Veterinarians require registration with the relevant state veterinary board rather than AHPRA
  • Currently practising or employed in your health profession — including hospital-based, community health, private practice, and mixed employment structures
  • Meeting the lender's minimum income threshold — varies significantly by discipline and lender. Many lenders have no minimum income for pharmacists and optometrists, while others set a floor between $80,000 and $150,000 depending on the profession
  • Borrowing within the lender's tiered loan caps — Granite Home Loans allows up to $2.5M for health professionals, CBA up to $2.375M for pharmacists under the medico policy. Caps vary by LVR tier and lender
  • Owner-occupied property for the highest LVR tiers — investment properties may be available at lower LVR tiers (typically 85–90%) with select lenders

Not all allied health professions qualify with all lenders — availability varies significantly by discipline. Pharmacists, physiotherapists, and optometrists have the broadest support. Health professionals not registered under AHPRA (such as exercise physiologists, dietitians without AHPRA registration, counsellors without psychology registration, and social workers) generally do not qualify for profession-specific LMI waivers, though some may qualify under essential worker policies with select lenders. The distinction between a medico policy (doctors, dentists — up to 95% LVR with the broadest terms) and a health professional policy (allied health — up to 90–95% LVR with more variable terms) is important when comparing lenders.

Check If You Qualify

LVR & Deposit Options for Health Professionals

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
  • Available for pharmacists through CBA (medico policy), NAB, and Granite Home Loans
  • Granite extends 95% LVR to physios, psychologists, radiographers, chiropractors, and other allied health
  • Maximum loan amounts of $1M–$2.5M depending on the lender at this tier
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 tier for allied health professionals
  • Pharmacists, physios, optometrists, and psychologists have the broadest access
  • Available from select mainstream and specialist lenders including Big 4 banks
Learn about 90% LVR options Broadest Selection

85% LVR — No LMI

15% deposit required

  • Borrow up to 85% of the property value — no LMI
  • The widest lender selection for health professionals across all disciplines
  • Available to a broader range of allied health professions than higher LVR tiers
  • Lower monthly repayments with larger deposit
Learn about 85% LVR options

Income Assessment for Health Professionals

Income assessment for allied health professionals depends heavily on your employment structure — whether you're hospital-based, in community health, running a private practice, or splitting time across multiple settings. Many health professionals work part-time or across multiple employers, which adds complexity to how lenders evaluate your borrowing power. Understanding these assessment methods ensures you present your income in the strongest possible light.

Hospital / Employed Health Professionals

  • Base salary is the primary income component assessed by lenders
  • Shift penalties, weekend loadings, and regular overtime may be included at 80% of the two-year average
  • Two most recent payslips, employment contract, and AHPRA registration confirmation required
  • Government or large hospital employment viewed favourably due to income stability and job security
  • Part-time employment is accepted — income assessed on actual contracted hours and pay terms

Private Practice / Self-Employed Health Professionals

  • Minimum two years of tax returns and full practice financials required by most lenders
  • Net profit or salary drawn from the practice entity is the primary income assessed
  • Add-backs for depreciation, personal superannuation contributions, and non-cash expenses considered
  • Some lenders accept one year of financials for established practitioners with strong revenue history
  • Practice revenue growth can strengthen the application — lenders prefer upward or stable income trends
Health professionals who split time between hospital employment and private practice can often count both income streams — significantly boosting borrowing power. For example, a physiotherapist working three days at a public hospital and two days in private practice can have both incomes assessed by most lenders. We identify lenders that assess your total earning capacity across all roles, rather than limiting assessment to a single employer or income source.

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.

Health Professionals LMI Waiver FAQs

Common questions about LMI waivers for health professionals.

Which health professions qualify for an LMI waiver?
AHPRA-registered allied health professionals with the broadest lender access include pharmacists, physiotherapists, optometrists, psychologists, and occupational therapists. Speech pathologists, radiographers, podiatrists, chiropractors, and osteopaths qualify with select lenders. Veterinarians are also eligible under many lender health professional policies despite not being AHPRA-registered. The key requirement for most professions is current AHPRA registration under the relevant National Board. Use our eligibility check to confirm your profession qualifies.
How much can health professionals save by waiving LMI?
For a $600,000 property with a 10% deposit, you could save approximately $10,400 in Lenders Mortgage Insurance. For a $750,000 property, savings reach around $14,400. For a $1,000,000 property, the saving is approximately $20,100. At 95% LVR (5% deposit) through Granite Home Loans or CBA, savings can be significantly higher. Use our LMI savings calculator to estimate your exact figure.
Do allied health professionals get the same LMI waiver terms as doctors?
Not quite. Doctors and dentists access medico policies with the broadest terms — 95% LVR from all major banks, the highest loan caps, and the most lender options. Allied health professionals access health professional policies which may offer up to 95% LVR through CBA (pharmacists) and Granite Home Loans, with 90% LVR from a wider range of lenders. The gap is narrowing as more lenders expand their health professional policies.
I'm a pharmacist — is my eligibility different from other allied health professions?
Yes. Pharmacists have the broadest LMI waiver access among allied health professionals. CBA includes pharmacists under its medico policy (the same policy used for doctors and dentists), offering up to 95% LVR. NAB and Granite Home Loans also offer 95% LVR for pharmacists. CBA reduced the income threshold for pharmacists to $100,000 in July 2025. Other allied health professions can access 95% LVR through Granite but have fewer mainstream lender options at that tier.
Do I need to be registered with AHPRA?
AHPRA registration is the primary way lenders verify your professional standing for LMI waiver eligibility. Health professions registered under AHPRA's 15 National Boards qualify with the most lenders. Professions not regulated by AHPRA — such as exercise physiologists, dietitians, social workers, and counsellors without psychology registration — generally do not qualify for profession-specific LMI waivers. Veterinarians are an exception — they qualify under many lender policies despite being registered with state veterinary boards rather than AHPRA.
Can I qualify if I work part-time?
Yes. Part-time health professionals with AHPRA registration can access LMI waivers — the waiver is based on your professional qualification, not your work hours. However, part-time income affects your borrowing capacity (how much you can borrow). Lenders assess income based on your actual contracted hours and pay. If you work across multiple part-time roles — for example, splitting between a hospital and private practice — most lenders can assess your combined income from all sources.
Can I use the LMI waiver for an investment property?
Some lenders extend LMI waivers to investment properties for allied health professionals, though the maximum LVR is typically capped at 85–90% depending on the lender. Owner-occupied purchases receive the most favourable terms and widest lender selection. Pharmacists may have slightly better investment property options through lenders that include them under medico policies. Check our deposit options page for strategies.
Is the waiver available for new graduates?
New graduates with current AHPRA registration can qualify for LMI waivers, though income thresholds may be a consideration early in your career. Many allied health graduates start below the $100,000–$150,000 income thresholds that some lenders require. However, Granite Home Loans has no minimum income requirement for university-qualified health professionals, and some other lenders set lower thresholds for specific professions. If your income is growing, a broker can identify lenders with the most accommodating entry requirements.
I'm an overseas-qualified health professional — do I qualify?
Overseas-qualified health professionals with current AHPRA registration qualify for LMI waivers on the same terms as domestically trained practitioners. Your overseas qualification is not assessed — what matters is your current Australian registration status. If you hold general or specialist AHPRA registration, you are eligible. International degrees are accepted by lenders like Granite Home Loans. Permanent residency or Australian citizenship is generally required, though some lenders accept qualifying visa holders.
Can I apply jointly with a non-health-professional partner?
Yes. Joint applications with a non-health-professional spouse or partner are accepted by most lenders. The health professional 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's the difference between a medico policy and a health professional policy?
Medico policies are designed for doctors and dentists and offer the most generous terms — 95% LVR from all major banks, highest loan caps, and fewest restrictions. Health professional policies cover allied health practitioners and typically offer up to 90% LVR from mainstream lenders (95% through Granite and CBA for pharmacists). Some professions — pharmacists, optometrists, and veterinarians — sit across both categories depending on the lender. A broker can identify which policy type applies to your profession with each lender.
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. Private practice owners will also need two years of full business financials. Your broker will provide a tailored checklist based on your chosen lender.
Do veterinarians qualify for health professional LMI waivers?
Yes. Veterinarians are included under many lender health professional policies despite not being AHPRA-registered. Vets are registered with their relevant state or territory veterinary board. Lenders that include veterinarians typically require current registration, a qualifying degree, and standard income and loan criteria. CBA includes veterinarians under its medico policy at up to 95% LVR. Check our full professions list for more detail.
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. Some lenders offer professional health home loan packages that include competitive rate discounts alongside the LMI waiver, providing additional savings over the life of the loan.
Is there a minimum income requirement?
Income requirements vary significantly by profession and lender. Granite Home Loans has no minimum income for university-qualified health professionals. CBA set a $100,000 threshold for pharmacists (reduced from higher in July 2025). Other lenders set thresholds between $80,000 and $150,000 depending on the specific allied health profession. Your income still affects borrowing capacity — a broker can identify lenders that match your income level and profession.
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 employed health professionals and five to ten business days for self-employed practice owners, 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.

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
Doctors LMI waiver
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.

Learn more
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
Paramedics LMI waiver
Up to 90% 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.

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. Not all allied health professions qualify with all lenders — availability varies by discipline. Always obtain personalised advice before making financial decisions.