No LMI home loans for doctors
Medical professionals get the strongest LMI concessions in Australian lending. Many lenders waive LMI up to 90% LVR, and a small number go to 95% for eligible doctors.
Max LVR without LMI
Up to 95%
Deposit from
$45,000
LMI avoided
≈ $30,267
Indicative only. LMI waivers depend on each lender's current professional list, your registration or membership, income, the property and full credit assessment. An XLOANS broker confirms which panel lenders currently waive LMI for you.
Why lenders waive LMI for doctors
Doctors have very low default rates and strong long-term earnings, so lenders compete for them by dropping LMI and sharpening rates.
Who is usually eligible
- General practitioners and medical specialists
- Hospital doctors, including registrars and residents at some lenders
- Dentists, and at some lenders other AHPRA-registered health practitioners such as optometrists or physiotherapists
Conditions to know
- Registration must be current; some lenders require general rather than provisional registration
- Many lenders set a minimum income, which varies by lender
- 95% LVR waivers are usually limited to specific doctor types and property locations
- Standard serviceability and credit checks still apply
Documents lenders ask for
- Current AHPRA registration (lenders check the public register)
- Payslips or an employment contract; tax returns if you are self-employed or contracting
- Proof of practice income (for example, service-fee statements) for GPs in private practice
Common mistakes
- Going to a lender whose list excludes your registration type — residents and interns are a common example
- Assuming a 95% waiver is available everywhere: most lenders stop at 90%
- Contracting income being reduced because the lender doesn't understand service-fee arrangements
Questions
Can doctors borrow 90% without LMI?
Yes, at many lenders. Eligible AHPRA-registered doctors can often borrow up to 90% of the property value with no LMI. A smaller number of lenders go to 95% for certain doctors.
Do junior doctors qualify for an LMI waiver?
Sometimes. Some lenders include registrars and residents, and others require general registration or a minimum income. A broker can match your registration to a lender that accepts it.
Are dentists covered by medical LMI waivers?
Usually, yes. Dentists are on most lenders' medical lists. Other health professions are covered by fewer lenders, so it's worth checking first.