Home loans for doctors

How lenders view doctors

Medical professionals get the strongest concessions in Australian lending: LMI waived to 90% LVR — and in some cases 95% — plus rate discounts, on the basis of exceptionally low historical default rates.

Two lenders assessing the identical payslip can arrive at borrowing power figures more than $100,000 apart, purely from policy differences. Choosing the lender whose policy matches your income shape is worth far more than shaving a few basis points off the rate.

Income lenders will assess for doctors

• PAYG salary for hospital-employed doctors, including overtime and on-call.
• Service-entity or contractor income for practice-based GPs and specialists.
• Practice profit distributions for partners and owners.
• Public and private income combined, where continuity can be demonstrated.

Advantages available to doctors

• LMI waived up to 90% LVR (sometimes higher) at multiple lenders — saving tens of thousands.
• Professional package rate discounts on both owner-occupied and investment lending.
• Higher loan-size tolerance and more generous debt-to-income treatment.
• Practice and commercial lending available on residential-style terms.

Lenders mortgage insurance

Your profession sits on the top tier of most lenders' professional lists: lenders mortgage insurance can be waived up to 90% LVR — occasionally higher — which is often a five-figure saving on a single purchase.

Common mistakes we see

• Assuming every lender offers the waiver — eligible specialty lists and income thresholds differ.
• Registrars applying before meeting the lender's minimum income threshold.
• Complex service-entity structures needing full financials that haven't been lodged.

What to have ready before you apply

• Two recent payslips showing year-to-date gross, plus your latest income statement or PAYG summary.
• Three months of transaction statements for every account, including any buy-now-pay-later facility.
• Details of all debts and credit limits — lenders assess the limit, not the balance.
• For self-employed income: the last one to two years of tax returns and notices of assessment.
• Evidence of your deposit, its source, and how long it's been held.

How much could you borrow?

Our borrowing power calculator assesses at a 3% serviceability buffer, the same way a lender does, and applies a HEM living-expense floor. It's an estimate — the number that matters is the one from the lender whose policy best fits doctors — but it's a realistic starting point.

If you'd rather skip the guesswork, a 15-minute chat gets you a lender-specific figure with the policy quirks already applied.