Home loans for dentists: deposit and LMI waiver options

If you're an associate paid through an ABN, I'd read your agreement and income records before setting a budget. Regular hours at the same practice don't always mean the lender will assess you as an employee.

Eligible dentists may be able to buy with a 5% deposit plus costs and have lenders mortgage insurance (LMI) waived. The maximum depends on your property, loan purpose and repayment type. We can then compare the deposit, repayments and cash you'll have left after buying.

Our LMI waivers guide explains the wider options. The deposit calculator and LMI calculator can help with initial planning.

For this example, you're buying a $900k home that the bank also values at $900k. You have $220k saved, and I've allowed $30k for buying costs. Your actual costs depend on the property, location and any concessions.

Our LMI calculator estimated $17,010 for a $900k property, $90k deposit and $810k base loan on 11 September 2026. The cards round that to $17k and assume you pay LMI upfront. Premiums vary by lender and insurer.

With the same $30k buying cost allowance, the standard loan uses about $137k of your $220k savings, leaving about $83k. The waiver uses $120k and leaves $100k. If you add LMI to the loan instead, you also pay interest on that extra debt.

The 95% loan leaves you with $135k more cash than the 80% loan and $135k more debt. That cash difference is not the LMI saving: all 3 options above avoid the premium. I'd decide how much cash you need for living costs, tax commitments and any planned practice expenses before choosing a deposit.

At the same assumed rate and term, the 95% loan costs about $809 more each month than the 80% loan. The larger loan also adds about $156k in interest if the rate stays at 6% and you make only the scheduled repayments over 30 years.

These figures use a constant illustrative 6% rate, with no fees, offset balance or extra repayments. They are not current product quotes. Actual rates may differ by lender and deposit size. Keeping savings in an eligible offset account could change the interest cost, so I'd model how you expect to use the cash too.

Your Ahpra registration needs to show Dentist as your profession. Hygienists, dental therapists, oral health therapists and dental prosthetists have separate registration categories. Working in the same clinic doesn't give everyone the same waiver.

ANZ's published guide accepts general or specialist registration. It excludes provisional and limited registration; non-practising registration is normally excluded, although a temporary absence such as parental leave may be considered. I'd check the other lenders' exact rules if your registration doesn't fit ANZ's offer.

NAB has a different registration rule: eligible postgraduate or supervised Limited registration and Provisional registration may qualify, alongside General and Specialist registration. Student and non-practising registration don't. An ANZ exclusion therefore doesn't automatically rule out every dentist waiver.

If you're an orthodontist or another dental specialist, your Ahpra entry should show Dentist, the registration type and the specialty correctly. Some lender lists name specialties separately. I'd match your registration to the offer before using its deposit limit.

If you're an employee, payslips and your employment contract are usually the starting point. An ABN associate may need business income records, even with steady hours at the same practice. I'd read the associate agreement alongside those figures so we compare loans that match the way you're paid.

For a practice owner, I'd start with the profit and wages or distributions available to you, then allow for business debts. Practice turnover alone won't tell us what you can put towards home loan repayments.

Westpac Group may use 1 year of tax returns after at least 1 full financial year of self employment. That can be useful for a newer practice. The bank still needs your business records; holding an ABN for 12 months doesn't show how long you've been trading or what you earn.

Goodwill, equipment and commercial premises need a separate finance assessment, and those debts can affect your home loan budget. If you're planning a practice purchase as well as a home, I'd model both commitments before settling on the deposit.

Our self employed home loan guide explains the income records we can compare if your work has changed.

Buying with a partner may help with repayments, but lender rules differ. NAB requires your primary income to come from the eligible profession. ANZ's published guide also requires the dentist to hold the largest or equal largest share of the property. With 2 equal owners, that means at least 50% each. I'd check income and ownership separately before choosing the structure.

NAB's waiver is for individual applicants, so a company or trust can't use it. CBA can accept some trusts. If you're buying through a trust, we can check whether yours qualifies.

These are the main dentist waiver routes in this guide. I'd compare the rate, fees and income assessment alongside the deposit. A larger deposit can still give you a better overall loan.

The Australian Government 5% Deposit Scheme may suit first home buyers, or buyers who have not owned property in Australia for 10 years. You must be an Australian citizen or permanent resident aged at least 18, buy within the local price cap and live in the home. The participating lender must approve a principal and interest loan. There is no income cap, but affordability still matters.

The 5% deposit is a minimum. You must use as much savings as the lender and scheme require, and you're not eligible if you have a 20% deposit left after buying costs. The buyer in our $220k savings example would have $190k after the assumed costs, more than the $180k needed for a 20% deposit on that home, so that example doesn't qualify for the scheme.

A general 90% no LMI loan may fit without a profession waiver. ubank allows eligible home or investment purchases up to 90% with principal and interest repayments. Its owner occupied refinance cap is 85%; investment refinancing and interest only are capped at 80%. Loans above 85% are capped at $2m.

Compare the product costs too. ubank charges a $250 loan advance fee. Neat has no annual fee; Flex costs $250 a year. The rate, offset features and other charges can affect the result.

A family guarantee may reduce or avoid LMI, but it puts the guarantor's property at risk. We'd work through the amount guaranteed and how it could be released; the guarantor should obtain independent advice.

A standard loan with LMI may still have a better overall cost or suit your income more closely. Saving a larger deposit reduces the debt and may widen lender choice. I'd compare the actual repayments and costs rather than assume property prices or rates will move in your favour.

A home loan pre-approval can help you set a buying budget. Before final approval, the bank still checks the property and any changes to your income or debts. I'd leave room for buying costs and a cash buffer when choosing that budget.

The lender pays us commission, which we disclose before you proceed. We'll explain any fees and the recommended options. Our lender review method explains how we compare your choices.