Home Loans for Doctors

For doctors in Australia, accessing a home loan comes with several exclusive benefits, including the ability to secure Lenders Mortgage Insurance (LMI) waivers. LMI is typically required for borrowers with a deposit smaller than 20%, but many lenders offer waivers to medical professionals, allowing them to borrow up to 95% of the property’s value without the need for LMI.
Doctors are considered low-risk borrowers due to their stable, high-income roles and strong employment prospects, making them an attractive client base for lenders. This exemption from LMI can save doctors tens of thousands of dollars in upfront costs, making homeownership more accessible. This article will explore the various home loan options available for doctors, including LMI waivers and other financial perks.
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Get Your Mortgage Approved
To get started on your journey of securing a home loan, fill in the form below, and an experienced mortgage broker will contact you about your personal situation. You can also call us directly on (02) 9188 9398.
How Much Can Doctors Borrow?
Borrow up to 95% of the property value with NO LMI
Doctors are able to secure loans with up to 95% LVR, with the LMI waived. This is perfect for First Home Buyers who do not want to wait years to save up enough for a deposit on their first home. It is also beneficial for doctors who want to purchase investment properties using equity in their existing home, as they don't need a large amount of funds to add to their property portfolio.
Most lenders do not have a minimum income requirement which means even interns and residents can access these home loans and get their foot on the property ladder early on.
Do Lenders Consider Overtime When Calculating Income?
Lenders in Australia typically consider doctors' overtime when calculating their income for home loans, but the treatment of this income can vary between lenders. Many lenders will include 100% of overtime income for doctors due to the high-demand nature of the medical profession and the generally reliable nature of overtime work for healthcare professionals. This is especially the case for doctors working in hospitals, where overtime can make up a significant portion of their annual earnings. Lenders may request payslips and employment contracts to verify the consistency of overtime income over a period of 6 to 12 months.
However, some lenders may still be cautious and only count a percentage (usually between 50-80%) of overtime income to ensure that the borrower’s financial situation remains stable without relying heavily on variable income. Doctors are generally seen as low-risk borrowers due to their stable and high-income careers, which allows lenders to be more flexible. To maximise your borrowing potential, speak to a top mortgage broker like EE Mortgages, who will help you negotiate the percentage of overtime that the lenders consider.
Which Doctors are Eligible?
All types of medical professionals are eligible for doctor home loans, including:
- Doctors
- General Practitioners
- Specialists
- Surgeons
- Anaesthetists
- Radiologists
- Oncologists
- Interns
- Residents
- Dentists
- Registered Nurses
- Optometrists
If you are unsure whether you are eligible, contact us and we can help you with your situation. Even if you do not qualify for a doctor home loan, we can help you find the best mortgage for your needs.
Important Info about
Home Loans for Doctors
How Much Money Do I Save?
By avoiding LMI, you save tens of thousands of dollars, but the exact amount will depend on various factors including your loan amount and the LVR. We have found that most doctors secure loans with 95% LVR, so we have included a table below with the estimated LMI savings based on different property values and 95% LVR.
Property Value | Loan Amount (95% LVR) | Lenders Mortgage Insurance Saved LMI Saved |
---|---|---|
$500,000 | $475,000 | $15,752 |
$750,000 | $712,500 | $30,394 |
$1,000,000 | $950,000 | $38,739 |
$1,250,000 | $1,187,500 | $52,985 |
$1,500,000 | $1,425,000 | $63,724 |
$1,750,000 | $1,662,500 | $81,249 |
$2,000,000 | $1,900,000 | $92,967 |
$2,250,000 | $2,137,500 | $109,976 |
$2,500,000 | $2,375,000 | $122,286 |
$2,750,000 | $2,612,500 | $134,596 |
$3,000,000 | $2,850,000 | $146,906 |
$3,500,000 | $3,325,000 | $171,483 |
$4,000,000 | $3,800,000 | $195,980 |
$4,500,000 | $4,275,000 | $220,478 |
$5,000,000 | $4,750,000 | $244,975 |
We Help Doctors with their
Home Loans
At Eden Emerald Mortgages, we deliver a superior lending experience by combining deep industry knowledge, effective communication, and genuine care, while helping doctors buy property.
With over 40 years of collective expertise, our team offers competitive rates and a broad array of No LMI loan products through a strategic network of over 40+ lending partners for residential borrowers.

What We Offer
Why Choose
EE Mortgages?
Eden Emerald Mortgages is the #1 mortgage broker in Sydney, as rated by the Canberra Times. Our team specialises in mortgages for doctors and we have particular expertise with high LVR loans with No LMI. We have been in business since 2007 and secured hundreds of loans for doctors. We offer our friendly, personalised services and advice at no cost at all, with no obligation to continue with us.
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- We partner with over 40+ lenders to find you the best rates on your home loan, with up to 100% LVR and No LMI
- Receive free friendly and personalised support from our experienced team, with no obligation
- We have been in business for over 17 years and we know doctor home loans better than anyone else
- 100% free service for clients with no hidden fees (we are paid a commission by the lender)
What Our Customers Say
Since Eden Emerald Mortgages began operations in 2007 we have helped thousands of Australians secure a mortgage. See what some of our satisfied customers say about us below.
Useful Calculators
Everyone's financial circumstances are different, which is why it is hard to know how much you can borrow or what price range to start house hunting. At Eden Emerald Mortgages, we offer free calculators that can assist you whether you are buying a new home or refinancing an existing property. Our most popular calculators are listed below, and you can see the full range of calculators here.
Frequently Asked Questions
Eden Emerald Mortgages does not charge any fees to you for using our services. We are paid a commission by the lender so that you don't have to pay anything. From your first call to the settlement date of your property, there are no costs involved!
If you would like to book a free appointment with us, simply call us on (02) 9188 9398 or leave us a message via the Contact Form.
Eden Emerald Mortgages has embraced technology, making it much more convenient for you to speak with us. We can communicate via phone, email and video call to eliminate the need for you to meet in person. If it is more convenient for you, we can complete the whole home loan process online.
EE Mortgages has access to more than 40+ lenders including the big 4 banks and various 2nd tier lenders. We have close relationships with our partners which enables us to negotiate the best rates for your home loan.
We pride ourselves on being efficient and quick with our services, and pre-approval can be received in 24 hours depending on the lender of choice. This is also dependant on whether you have all your documents in order. It is a good idea to allow up to 5 business days for pre-approval of your home loan.
We can help you determine your borrowing capacity after we ask you some questions and receive financial documents. In the meantime, you can estimate the amount you can borrow using our borrowing power calculator.
Speak to an Expert and
Get Your Mortgage Approved
To get started on your journey of securing a home loan, fill in the form below, and an experienced mortgage broker will contact you about your personal situation.