Home Loans for
Medical Professionals

Medical professionals in Australia, including doctors, dentists, and nurses, often receive special home loan benefits, one of the most significant being Lenders Mortgage Insurance (LMI) waivers. Typically, borrowers who have less than a 20% deposit are required to pay LMI, which can be costly. However, many lenders offer medical professionals the option to borrow up to 95% of the property's value without paying LMI. This exemption can save tens of thousands of dollars in upfront costs, making homeownership more accessible.
The reason medical professionals qualify for these LMI waivers is their status as low-risk borrowers. Their high earning potential, stable employment, and strong career prospects make them an attractive client base for lenders, allowing them to offer more flexible borrowing conditions. In this article, we’ll explore the various home loan options available to medical professionals in Australia, including LMI waivers and other financial perks tailored specifically for this sector.
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. You can also call us directly on (02) 9188 9398.
How Much Can Medical Professionals Borrow?
Borrow up to 95% of the property value with NO LMI
Medical professionals such as doctors, dentists, GPs and medical specialists can secure home loans with up to 95% Loan-to-Value Ratio (LVR) without needing to pay Lenders Mortgage Insurance (LMI). With only a small 5% deposit, these medical professionals can get into the property market much faster, and avoid the extra cost of LMI, which can be tens of thousands of dollars.
Another key advantage is that most lenders offering 95% No LMI loans do not have a minimum income requirement for doctors and dentists. This means even those who are at the start of their careers can access these loans and get onto the property ladder early, before house prices increase further.
Borrow up to 90% of the property value with NO LMI
For other medical professionals in Australia, you will be eligible for 90% LVR home loans with No LMI. This includes nurses, pharmacists, chiropractors, optometrists and others, and lenders typically require a minimum annual salary of $90,000. For many full-time medical professionals, this is a low threshold to achieve to be eligible.
Do Lenders Consider Overtime When Calculating Income?
Yes, lenders in Australia generally consider overtime when calculating income for medical professionals, but the treatment of this overtime income can vary between lenders. Many lenders will take into account 100% of overtime income for medical professionals due to the stable and high-demand nature of the industry, particularly for doctors working in hospitals where overtime can make up a large portion of their annual earnings. To assess the reliability of overtime, lenders typically require payslips and employment contracts showing a consistent history of overtime income, usually over a 6-12 month period.
However, some lenders might still be cautious and will only count 50-80% of overtime income, especially if they want to ensure the borrower's financial situation remains stable without heavily relying on variable overtime. The degree of flexibility can depend on the specific lender’s policies, so it's beneficial to work with a mortgage broker who understands the healthcare industry. Eden Emerald Mortgages can help you find lenders that consider a higher percentage of your overtime income, thus increasing your borrowing potential.
Which Medical Professionals are Eligible?
All types of medical professionals are eligible for home loans with LMI waived, including:
- Doctors
- General Practitioners
- Specialists
- Surgeons
- Anaesthetists
- Radiologists
- Oncologists
- Interns
- Residents
- Dentists
- Registered Nurses
- Midwives
- Optometrists
- Pharmacists
- Dieticians
- Psychologists
- Counsellors
- Healthcare workers
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 medical professional home loan, we can help you find the best mortgage for your needs.
Important Info about
Home Loans for Medical Professionals
How Much Money Do I Save?
By waiving your 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 medical professionals 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 Medical Professionals 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 medical professionals 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 medical professionals 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 medical professionals. We offer our friendly, personalised services and advice at no cost at all, with no obligation to continue with us.
Get in touch, and an expert will call you back
- 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 medical professional 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.