- Macquarie Bank offers Lenders Mortgage Insurance (LMI) waivers to medical professionals due to earning potential and job stability.
- Medical professionals qualify for 90% LVR home loans with No LMI at Macquarie Bank. For a full list of eligible professions, click here.
- Unfortunately not all healthcare workers are covered by Macquarie Bank LMI waiver, but you can access No LMI loans from other banks.
- LMI waivers potentially save you tens of thousands of dollars when buying a property.
Macquarie Bank offers eligible customers Lenders Mortgage Insurance (LMI) Waivers on home loans, providing an exceptional opportunity for medical professionals to purchase property with a smaller deposit while avoiding the hefty costs of LMI. With only a 10% deposit, you can buy your new home quicker and save tens of thousands of dollars in LMI fees.

While some customers may opt to apply for the Macquarie Bank LMI Waiver directly, partnering with an experienced mortgage broker can streamline the process and maximise your chances of success. At Eden Emerald Mortgages, we specialise in guiding you through every step of the application process, addressing any questions, and tailoring solutions to fit your unique situation. Our brokers also compare various lenders to secure the most competitive rates and explore additional LMI waiver options if Macquarie Bank isn’t the best fit for your circumstances. Best of all, our services are 100% FREE for borrowers, as we are compensated by the lender, allowing us to focus solely on helping you achieve your property goals.
When you use the services of an expert mortgage broker from Eden Emerald Mortgages, you’ll benefit from:
- Time Savings: Let us handle the paperwork and liaise with Macquarie Bank on your behalf.
- Tailored Advice: Our experienced team understand the LMI Waiver criteria at Macquarie Bank and can help you determine eligibility.
- Access to Multiple Options: If you are ineligible for LMI waiver at Macquarie Bank, or the interest rates are too high, we can find you the best alternatives from other lenders.
- Advocacy: We actively negotiate with Macquarie Bank and other lenders to secure the best terms and rates for you.
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.
Macquarie Bank LMI Waiver: Eligible Professions
Here is a quick table which summarises the industries that Macquarie Bank accepts for LMI waivers. Click on the industry or profession to find out specific information for your job, including maximum loan amounts and eligibility requirements.
Industry | Maximum LVR | Examples of Eligible Professionals |
---|---|---|
90% |
Medical Professionals
A number of medical professionals are accepted by Macquarie Bank for LMI Waivers, including:
- Doctors
- Self-employed doctors
- GPs
- Medical specialists
- Surgeons
If you are a healthcare worker that is not listed above, you may not be eligible for an LMI waiver at Macquarie Bank, but you could qualify at other lenders with LMI waivers for health professionals. Contact us here for assistance in finding lenders that will waive LMI for your medical profession.
Here is some key information about Macquarie Bank LMI Waiver home loans for eligible Medical Professionals:
- Borrow up to 90% LVR with No LMI
- No minimum annual income requirements
- Must be currently employed in Australia and been actively employed for at least 2 years
- Must be registered with AHPRA
- Require documents to prove registration and profession

Application Process for LMI Waivers
Applying for an LMI waiver at Macquarie Bank involves several steps, and here is a quick outline of the process:
- Check Eligibility: Determine if your profession qualifies for a LMI waiver at Macquarie Bank and if you meet the other eligibility criteria.
- 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.
- 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.
- Submit Application: Apply for the mortgage, including a request for an LMI waiver. Provide all necessary documentation and information.
- Lender Assessment: Macquarie Bank will assess your application, including your eligibility for the LMI waiver. This may involve verifying your professional industry, spending habits, and employment history.
- Approval and Settlement: If approved, Macquarie Bank 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 LMI Waivers
For Australians who are not eligible for an LMI waiver with Macquarie Bank, check if your profession qualifies for LMI waivers elsewhere, or see this list of banks and lenders that offer No LMI home loans. If you don't qualify with other 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
Macquarie Bank LMI waivers provide a great opportunity for medical professionals to buy property with as little as 10% deposit, with no need to spend tens of thousands of dollars on LMI. If you have any more questions, or want to begin the process of applying for a home loan with Macquarie Bank, fill out the form below and an experienced mortgage broker from EE Mortgages will contact you.
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.