Medical professional home loans

What doctors, dentists, nurses and allied health professionals actually qualify for

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Medical professions eligible for an LMI waiver

Eligibility is not one list. Lenders sort medical and allied health professions into tiers, and the tier you sit in decides how much you can borrow without paying Lenders Mortgage Insurance.

Allied health tier

90% LVR

Commonly assessed at up to 90% LVR with the LMI premium waived, subject to lender policy, income and registration:
Nursing & allied health
Registered nurses
Midwives
Pharmacists
Physiotherapists
Optometrists
Occupational therapists
Radiographers
Psychologists
Chiropractors
Veterinarians
Non-medical, separate policy
Accountants (CPA/CA)
Auditors
Actuaries
Lawyers & solicitors
Varies by lender and changes over time*
*Varies by lender, profession and individual circumstances, and is subject to change.

Doctor and specialist tier

Up to 95% LVR*

*Varies by lender, profession and individual circumstances, and is subject to change.
The highest tier, where some lenders will assess a higher LVR and may waive the LMI premium. Availability, the LVR limit and any waiver depend on the lender, your profession and your circumstances:
Doctors, dentists & specialists
General practitioners
Interns, residents, registrars
Surgeons
Dentists
Anaesthetists
Cardiologists
Orthopaedic surgeons
Paediatric specialists
Psychiatrists
Radiologists
Varies by lender and changes over time*
*Varies by lender, profession and individual circumstances, and is subject to change.
If you are a nurse or a midwife, read this. A lot of older guides still list you as excluded from these benefits. That information is out of date. Several lenders now assess registered nurses and midwives for an LMI waiver, usually with a minimum income threshold and current AHPRA registration. If you have been told before that you do not qualify, it is worth having it checked again.
The part that changes everything

What changes at each stage of your career

Two doctors on the same salary can get very different answers depending on where they sit in their training. This is the most common reason an application is declined by one lender and approved by another.

1

Intern

First year out, modest income, brand new contract. Some lenders decline on employment history alone. Others accept a signed hospital contract as proof enough.

2

Resident and RMO

Rotating contracts look like job instability to a lender that does not understand medical training. The fix is almost always a different lender, not a different file.

3

Registrar

Income climbs and borrowing capacity follows. For most people this is the stage where the top tier genuinely opens up rather than being technically available.

4

Fellow

Often a mix of hospital salary, locum shifts and sometimes a period overseas. More documents to gather, and far more variation between lenders on what they count.

5

Consultant and specialist

The widest lender choice and the highest capacity. The risk here is not being declined, it is accepting the first offer when a better structure was available.

6

Practice owner

You are now assessed as self employed, which is a different conversation again. Buying the practice itself is commercial lending and sits outside everything on this page.
The part most people get wrong

What the medico benefits actually give you

LMI waiver icon

The LMI waiver

Buy with a smaller deposit and skip the mortgage insurance premium. On a typical purchase this is the single largest saving available to you.
Deposit size icon

A smaller deposit

Reaching a 20% deposit takes years. Your tier decides whether you need 5%, 10% or the full 20%, which usually decides when you can buy.
Borrowing capacity icon

Higher borrowing capacity

Some lenders treat medical income as low risk and assess it more generously than a standard salary of the same size.
Complex income icon

Locum and ABN income

Locum work, contracting through an ABN, or income paid through a company or trust are all workable. They just need the right lender. Use our borrowing power calculator for a rough starting point.
Refinancing icon

It applies to refinancing too

Already own a home? The same tiers apply when you refinance, and many medical borrowers are sitting on a rate they qualified out of years ago.
Rate comparison icon

Is the waiver worth taking?

A waiver is sometimes attached to a higher rate. Over a long loan that can cost more than the premium it saved. We run both numbers before you decide.
(A ten minute call is usually enough to know where you stand)

Which lenders offer medico home loans?

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Panel of Australian lenders compared for medical professional home loans
Panel of Australian lenders compared for medical professional home loans

How to apply for a medical home loan

1

Tell us your stage

Your profession, your career stage and how your income is paid. That is enough for us to tell you which tier you sit in.

2

We run both numbers

The waiver option and the standard option, side by side, so you can see what each one really costs over the life of the loan.

3

You choose, we handle it

We prepare the application, deal with the lender and keep you updated. Timeframes depend on the lender and your documents.
Start with a conversation.
No cost, no obligation.
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Still got questions?

Medical home loan questions, answered

Which medical professionals qualify for a home loan LMI waiver?

Lenders group medical professions into tiers. Doctors, dentists, surgeons and most specialists usually sit in the top tier. Nurses, midwives, pharmacists, physiotherapists and other allied health professions sit in a second tier with a lower maximum. Accountants and lawyers are covered under separate policies again. Which tier applies to you depends on the lender, your registration and your income, so it is worth checking rather than assuming.

Sometimes, and this is the question most guides skip. A waiver removes a large upfront premium, but the product attached to it may carry a higher rate than the sharpest loan you could otherwise get. Over a long loan term, a small rate difference can outgrow the premium you saved. Our comparison rate calculator is a good place to see how much a small rate gap adds up to. We compare both paths and show you the numbers rather than assuming the waiver always wins.

Often yes, but not with every lender. Early career doctors face two hurdles: a shorter employment history and rotating hospital contracts. Some lenders treat this as instability and decline. Others recognise the career path and assess it as low risk. The difference is which lender the application goes to, which is exactly the sort of thing worth a conversation before you apply anywhere.

A lot of older guides still list nurses and midwives as excluded from these benefits. That information is out of date. Several lenders now assess registered nurses and midwives for an LMI waiver, usually with a minimum income threshold and current AHPRA registration. If you have been told before that you do not qualify, it is worth having it checked again.

Yes, though how it is assessed varies a lot. Locum work, contracting through an ABN, partnership distributions and income paid through a company or family trust are all common in medicine and all workable. What changes between lenders is how much of that income they will count and how much history they want to see. The structure of your income often matters more to the outcome than the size of it.

With many lenders, a joint application still qualifies as long as one borrower is in an eligible profession. Some lenders add conditions, such as requiring the eligible borrower to hold a minimum share of the loan or be the primary income earner. It is a common situation and usually solvable, but it is worth confirming the specific lender’s position before you commit to a property.

Speak to a medico home loan specialist

No fee from us for arranging your finance. No obligation. A free consult and handy resources.
Important information about this page

Broker services are provided at no cost to you in most cases, as we are paid a commission by the lender. Eligibility, LVR limits and LMI waivers vary by lender, by profession and by individual circumstances, and are subject to change. Rates and product availability are current as at 1 September 2026. Confirm with us before relying on any figure on this page.

This page is general information only. It does not take your objectives, financial situation or needs into account. Loanity is a credit representative and can provide credit assistance once we understand your circumstances.