CBA Medico Policy – LMI Waiver for Doctors and Medical Professionals

While you can apply for the CBA Medico Policy directly through the bank, partnering with a knowledgeable mortgage broker can make the process far easier and more efficient. At Eden Emerald Mortgages, we provide tailored advice, answer all your questions, and manage the entire application process to ensure your loan is submitted accurately and on time. We can also compare multiple lenders to secure the most competitive rates, or find alternative LMI waiver options if CBA’s Medico Policy isn’t the right fit. Most importantly, it’s FREE for you to use a broker from EE Mortgages, as we’re paid by the lender rather than the borrower.

By using a mortgage broker from Eden Emerald Mortgages, you’ll benefit from:

• Time Savings: Let us handle the paperwork and liaise with CBA on your behalf.
• Tailored Advice: Our experienced team understand the CBA Medico Policy criteria and can help you determine eligibility.
• Access to Multiple Options: If you are ineligible for CBA Medico Policy, or the interest rates are too high, we can find you the best alternatives from other lenders.
• Advocacy: We actively negotiate with CBA and other lenders to secure the best terms and rates for you.

CBA Medico Policy: Eligible Professions

Here is a list of professions that qualify for the CBA Medico Policy:

• Anaesthetists
• Cardiologists
• Cosmetic surgeons
• Dentists
• Dental surgeons
• Dermatologists
• Doctors
• Epidemiologists
• Endocrinologists
• Gastroenterologists
• General Practitioners
• Gynaecologists
• Immunologists
• Medical interns
• Medical residents
• Medical registrars
• Neurologists
• Nurses (not CBA Medico Policy, but can still borrow 95% LVR with no LMI)
• Obstetricians
• Oncologists
• Ophthalmologists
• Optometrists
• Orthodontists
• Paediatricians
• Pathologists
• Pharmacists
• Plastic Surgeons
• Radiologists
• Rheumatologists
• Surgeons
• Urologists
• Veterinarians

Key Information about CBA Medico Policy

• Borrow up to 95% LVR with No LMI
• Maximum loan amount of $2.375 million with 95% LVR
• Maximum loan amount of $9 million with 90% LVR
• No minimum income required (except Pharmacists - $150,000 per annum)
• Variable or fixed rate loans
• Principal & Interest only
• Must be currently employed in Australia and registered with AHPRA (or relevant state board if you are a veterinarian)
• Require documents to prove registration and profession
• Physiotherapists and psychologists do not qualify for CBA Medico Policy. Contact us to find which lenders offer LMI waivers for these and other healthcare professions.
• Nurses are not covered by CBA Medico Policy, but they can still borrow 95% LVR with no LMI as of 2025, as part of CBA's expanded LMI Waiver for Frontline Workers
• 100% of overtime can be used to calculate borrowing power

Application Process for CBA Medico Policy

Applying for the CBA Medico Policy involves several steps, and here is a quick outline of the process:

1. Check Eligibility: Determine if your profession qualifies for a CBA Medico Policy LMI waiver, and check you meet the other eligibility criteria.
2. Consult a Mortgage Broker: A mortgage broker will guide you through the necessary documents required, and complete the application for you. Speak to a free mortgage broker now (free to you as a client, as the broker is paid a commission by the lender) to begin the process.
3. Gather Documentation: Collect necessary documents as advised by the broker, such as proof of professional registration, employment history, income statements, and any other required paperwork.
4. Submit Application: Apply for the mortgage, including a request for an LMI waiver. Provide all necessary documentation and information.
5. Lender Assessment: CBA will assess your application, including your eligibility for the Medico Policy. This may involve verifying your employment and registration, spending habits, and employment history.
6. Approval and Settlement: If approved, CBA will proceed with the mortgage process without requiring you to pay LMI. This will significantly reduce your upfront costs and overall mortgage amount.

Contact a Mortgage Broker to Waive Your LMI

Speak to an expert at Eden Emerald Mortgages to begin the process, or even to ask any questions you have about eligibility. Leave your details below and we will call you back as soon as possible. Alternatively, you can call us directly on (02) 9188 9398.

Alternatives to CBA Medico Policy

If your profession isn't covered by CBA Medico Policy, you can check if your profession is able to access LMI waivers elsewhere, or see this list of banks and lenders that offer No LMI home loans. If you are a medical professional, have a look at this article to see where you can waive LMI.

If you don't qualify for an LMI waiver at any lenders, here are some other ways to avoid or reduce LMI costs:

• Saving a Larger Deposit: Increasing your deposit to at least 20% of the property’s purchase price eliminates the need for LMI.
• Guarantor Loans: Having a family member act as a guarantor can help you secure a loan without paying LMI.
• First Home Guarantee (FHBG): For first-time homebuyers, the Australian government’s First Home Guarantee allows eligible buyers to purchase a home with a 5% deposit without paying LMI.

Conclusion

CBA’s Medico Policy offers an excellent opportunity for eligible professionals to purchase property with just a 5% to 10% deposit, without having to pay expensive Lenders Mortgage Insurance (LMI). If you’d like to learn more or are ready to get started with a CBA home loan, simply fill out the form below — one of our experienced mortgage brokers from EE Mortgages will be in touch to guide you through the next steps.