- NAB offers Lenders Mortgage Insurance (LMI) waivers to medical and veterinary professionals due to earning potential and job stability.
- Medical professionals such as doctors, dentists, optometrists, pharmacists and veterinarians qualify for 95% LVR home loans with No LMI with NAB. For a full list of eligible professions, click here.
- Unfortunately nurses, accountants, lawyers are not covered by NAB 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.
NAB offers eligible customers Lenders Mortgage Insurance (LMI) Waivers on home loans, presenting an excellent opportunity for medical professionals to enter the property market with a smaller deposit while avoiding LMI, potentially saving tens of thousands of dollars in LMI fees.

While some customers may choose to apply for the NAB LMI Waiver directly through the bank, working with an experienced mortgage broker can make the process smoother and more effective. At Eden Emerald Mortgages, we provide tailored advice, answer all your questions, and handle every step of the application process on your behalf. Our brokers also compare multiple lenders to ensure you get the best rates and explore other LMI waiver options if NAB isn’t the right fit for your needs. Best of all, our services are 100% FREE for borrowers, as we are paid by the lender, ensuring our sole focus is 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 NAB on your behalf.
- Tailored Advice: Our experienced team understand the LMI Waiver criteria at NAB and can help you determine eligibility.
- Access to Multiple Options: If you are ineligible for LMI waiver at NAB, or the interest rates are too high, we can find you the best alternatives from other lenders.
- Advocacy: We actively negotiate with NAB 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.
NAB LMI Waiver: Eligible Professions
Here is a quick table which summarises the industries that NAB 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 |
---|---|---|
95% | ||
95% |
Medical Professionals
A number of medical professionals are accepted by NAB for LMI Waivers, including:
If you are a healthcare worker that is not listed above, you may not be eligible for NAB LMI waiver, but you could qualify at other banks with LMI waivers for health professionals. Contact us here for assistance in finding lenders that will waive LMI for medical professionals.
Here is some key information about NAB LMI Waiver home loans for eligible Medical Professionals:
- Borrow up to 95% LVR with No LMI
- Maximum loan amount of $4.5 million
- No minimum income requirements
- Must be currently employed in Australia and registered with AHPRA
- Require documents to prove registration and profession
- 100% of overtime considered when calculating borrowing power

Veterinarians
Veterinarians are eligible for No LMI home loans at NAB, and here is some key information about these loans:
- Borrow up to 95% LVR with No LMI
- Maximum loan amount of $4.5 million
- No minimum income requirements
- Must be currently employed in Australia and registered with relevant veterinary board
- Require documents to prove registration and profession
- 100% of overtime considered when calculating borrowing power

Application Process for LMI Waivers
Applying for an LMI waiver at NAB involves several steps, and here is a quick outline of the process:
- Check Eligibility: Determine if your profession qualifies for a LMI waiver at NAB 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: NAB 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, NAB 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 NAB, 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 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
NAB LMI waivers provide a great opportunity for medical and veterinary professionals to buy property with as little as 5% 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 NAB, 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.