With certain lenders, doctors, dentists and recognised medical specialists can borrow up to 95% of a property's value without paying Lenders Mortgage Insurance (LMI). Your income, deposit and property still need to fit the lender.
If you are a doctor, dentist, specialist or another healthcare professional, we can compare the current options and show you which lenders will actually consider your application.
What is a doctor home loan?
A doctor home loan is usually a standard home loan with extra options for eligible medical professionals. It is not necessarily a separate product.
The main benefit is often an LMI waiver. Most borrowers are asked to pay LMI when borrowing more than 80% of a property's value. An eligible medical professional may be able to borrow above 80% without that extra cost.
Lenders treat medical income differently. This matters if you earn overtime, allowances, locum income, contract income or income through a practice.
What is LMI?
Lenders Mortgage Insurance protects the lender if a borrower defaults and the property sale does not cover the outstanding loan. It does not protect the borrower.
LMI can cost thousands or tens of thousands of dollars, depending on the loan amount, deposit and lender. Avoiding it may help you buy sooner or keep more cash available, but a smaller deposit also means a larger loan and higher repayments.
How much can a doctor borrow without LMI?
There are three common options:
| Option | What it usually means |
|---|---|
| Up to 90% LVR without LMI | A deposit of about 10%, plus purchase costs. This option is available across a broader range of eligible medical and allied-health professions. |
| Up to 95% LVR without LMI | A deposit of about 5%, plus purchase costs. This is usually limited to doctors, dentists and recognised specialists. |
| Up to 100% LVR | May involve a family guarantee or, for an eligible single parent or legal guardian, the 2% deposit stream of the Australian Government 5% Deposit Scheme. It is not a standard doctor LMI waiver. |
LVR is based on the lender's accepted property value, which may be lower than the purchase price.
Example: buying a $1 million property
If a lender accepts the property value at $1 million:
- at 90% LVR, the loan would be $900,000 and the deposit would be about $100,000;
- at 95% LVR, the loan would be $950,000 and the deposit would be about $50,000; and
- stamp duty and other purchase costs would usually need to be covered separately.
The 90% or 95% figure is only the maximum portion of the property value a lender may cover. The lender will still check whether your income is enough to manage the repayments and your other commitments.
Which medical professionals may qualify?
Doctors, dentists and recognised medical specialists have the widest choice of no-LMI options. Other healthcare professions can still qualify with the right lender.
Other lenders also cover:
- general practitioners;
- hospital-employed doctors, including interns, residents, registrars and staff specialists;
- surgeons and recognised medical specialists;
- dentists;
- veterinarians;
- optometrists;
- pharmacists;
- physiotherapists;
- chiropractors;
- psychologists;
- registered nurses and midwives; and
- certain allied-health professionals.
Why your AHPRA registration type matters
Your job title is not the only thing a lender checks. It may also look at the registration type shown on your AHPRA record.
This matters most for interns and overseas-trained doctors. Your profession may be accepted, but your registration type can still affect which no-LMI options are available.
Check your AHPRA record first
Search your name on the AHPRA public register. Note your profession, registration status and registration type. If you trained overseas, have your visa or residency details ready too.
The Medical Board of Australia uses the following main registration types:
Swipe sideways to view the registration types.
| Registration type | What it generally means |
|---|---|
| Provisional | Often held during internship or a period of supervised practice. |
| General | Usually held after internship, once a doctor can practise independently within their scope. |
| Specialist | Held by doctors registered in a recognised medical specialty. |
| Limited | Often used by overseas-trained doctors for a defined purpose, such as supervised practice, an area of need, teaching or research, or public interest. |
| Non-practising or student | Used when a doctor is not practising, or while a person is studying in an approved program. |
There is no single lender rule. Some no-LMI options are limited to general or specialist registration. Others can consider provisional registration or certain limited-registration categories.
If your registration is changing soon, tell your broker the expected date. A move from provisional to general registration can change which lenders are available, but the new registration may need to be in place before the lender can use it.
Your profession is only one part of the decision. The lender will also look at:
- current AHPRA or other relevant professional registration;
- a minimum income for certain occupations;
- an acceptable property and postcode;
- a particular repayment type or loan purpose;
- a good credit history;
- evidence of your deposit and purchase costs; and
- a loan amount that fits within the lender's limits.
What if my profession is not on a lender's list?
You may still have good home-loan options. Different lenders use different profession lists, and an LMI waiver is only one part of a competitive loan.
If you are borrowing 80% LVR or less, for example, LMI may not apply anyway. The interest rate, borrowing capacity, income treatment, offset features and approval conditions may matter more.
How much could an LMI waiver save?
There is no single LMI price list that applies to every loan. The cost depends on factors including:
- the loan amount;
- the LVR;
- whether the loan is for a home or investment property;
- the lender and its mortgage insurer; and
- whether the premium is paid upfront or added to the loan.
On a high-value property, the difference can be significant. We calculate the actual comparison using the proposed loan amount rather than relying on an old generic savings table. You can also use our LMI calculator for an initial estimate.
What about the Australian Government 5% Deposit Scheme or a family guarantor?
A medical-professional LMI waiver is not the only way to buy with a smaller deposit. Our low-deposit home-loan guide explains the broader options.
Depending on your circumstances, it can be worth comparing:
- a doctor or medical-professional LMI waiver;
- the Australian Government 5% Deposit Scheme, formerly called the Home Guarantee Scheme; and
- a guarantor home loan supported by family equity.
These options work differently. The Australian Government 5% Deposit Scheme no longer has income caps or a fixed annual place limit, but buyer, property-price, occupancy and participating-lender rules still apply. Eligible single parents or legal guardians may qualify with a deposit as low as 2%.
A family guarantee uses some of a family member's property as extra support for the loan. It creates real obligations and risks for that family member.
A guarantor may help cover the deposit or reduce the need for LMI, but does not automatically increase the income-based amount you can afford to borrow. We compare the structures before an application so you can see the deposit required, repayments, costs and exit plan for each option.
You also cannot assume a family guarantee can be combined with a medical-professional waiver. ANZ's professional packages are not available with family guarantees. NAB's broker channel does not accept new family guarantees, and Bankwest has separate restrictions for this type of lending.
Finding the right lender
The right lender is the one whose rules fit your whole situation. Your profession is only the starting point.
We compare:
- how much you can borrow without LMI;
- the lender's eligible-profession list;
- how salary, overtime, allowances, contract work and private-practice income are assessed;
- owner-occupied versus investment lending rules;
- maximum loan size and how much you already have with the lender;
- acceptable property types and locations;
- interest-only availability;
- offset, redraw and extra-repayment features;
- interest rates and fees; and
- how likely the loan is to fit and how long approval may take.
Which lenders offer LMI waivers for doctors?
Several major and non-major lenders offer professional LMI waivers. Their profession lists and limits are not identical.
As at August 2026, select lenders publicly advertise up to 95% LVR without LMI for eligible doctors, dentists and medical specialists. Other lenders offer medical-professional waivers at lower maximum LVRs or for a wider range of healthcare occupations.
Here is how the main lenders compare at a high level. These are a guide only, not automatic approvals. The lender will still look at your income, deposit, other debts and the property you want to buy.
Doctor home-loan lender comparison (2026)
Swipe sideways to compare the lenders.
| Lender | What it offers | Worth comparing if |
|---|---|---|
| ANZ | Up to 95% LVR without LMI for doctors, dentists and recognised specialists. | You are a doctor, dentist or specialist with a 5% deposit plus purchase costs. |
| Commonwealth Bank | Up to 89.99% under its standard Professionals Offer, with a separate investment option up to 94.99%. | You are buying a home or investment property and CBA suits your income, repayments and property. |
| NAB | Up to 95% for a home purchase or later loan increase, reducing to 90% for investment lending. | You are a doctor, dentist, veterinarian or allied-health professional on NAB's list. NAB can also consider certain provisional and limited registration categories. |
| Westpac | Up to 95% for doctors, dentists and specialists, or 90% for a wider group of healthcare professionals earning at least $90,000 combined from the qualifying work. | You are a hospital-employed doctor, GP, dentist, specialist or healthcare professional on Westpac's list. |
| Bankwest | Up to 89.99%, with limits based on the loan amount and property value. Principal and interest repayments are required, except during eligible construction loans. | Medical professionals buying a standard home or an eligible construction property. |
| St.George | Similar 95% and 90% medical-professional options to Westpac. Existing higher-LVR loans across the Westpac group can affect the amount available. | You want to compare rates and loan features across the Westpac group. |
| Suncorp Bank | Up to 90% without LMI for eligible medical practitioners. The option excludes certain loan purposes and professions. | You are a medical practitioner with a smaller total lending requirement. |
| People First Bank | Up to 90% for doctors and healthcare professionals on its profession list, with a maximum of $2 million against each property. Principal and interest repayments are required. | You are buying or refinancing a home or investment property and only need principal-and-interest repayments. |
| UBank | A general no-LMI purchase option may be available up to 90%. This is not a medical-professional waiver. | Your profession is not on a specialist medical waiver list, but you have a 10% deposit. |
| Macquarie | Does not currently offer a professional or medico LMI waiver. | You are comparing standard home loans rather than seeking a profession-based waiver. |
| BOQ Specialist | Previously prominent in lending to doctors. At the time of writing, it is not taking new applications through mortgage brokers. | Existing BOQ Specialist customers only through the broker channel at present. |
ANZ home loans for doctors
ANZ has one of the higher borrowing limits for medical professionals. Doctors, dentists and recognised specialists can borrow up to 95% of ANZ's property value without paying LMI.
In practical terms, ANZ will look for:
- current AHPRA registration in an eligible profession;
- at least a 5% deposit, plus purchase costs;
- an acceptable owner-occupied or investment property;
- a loan that fits its property and overall lending limits; and
- a full assessment of income, expenses, debts and credit history.
For standard houses, duplexes and townhouses, the maximum loan is generally $4.5 million. The 95% option can go up to $4.75 million. Lower limits can apply to other property types, and total ANZ lending under the waiver is capped at $8 million.
ANZ generally requires general or specialist registration. Provisional, limited and non-practising registration are not normally accepted. Parental leave can be considered separately.
Pharmacists, nurses, midwives, occupational therapists, osteopaths, podiatrists, psychologists and radiographers are among the professions excluded from this particular ANZ waiver. Their options need to be checked with other lenders.
Read our full ANZ home-loan review.
CBA medical-professional offer
Commonwealth Bank has a dedicated healthcare-banking team and specialised home lending for healthcare professionals.
Its healthcare coverage can include:
- general practitioners and recognised medical specialists;
- dentists;
- optometrists;
- pharmacists;
- veterinarians; and
- certain allied-health professionals.
CBA's profession list and loan limits need to be checked against the individual application.
CBA's standard Professionals Offer goes up to 89.99% without LMI against a property worth up to $3 million. Total CBA lending under the offer is capped at $5 million.
CBA also has a separate investment option up to 94.99%. Total lending under this option is capped at $7.5 million, and the property valuation still matters.
These loans need principal and interest repayments and an eligible CBA home-loan package. CBA does not use the offer for land, construction or low-doc applications. Pharmacists need at least $100,000 a year from their eligible work. Physiotherapists, psychologists and nurses are not included.
CBA can still be a strong option when it recognises more of a doctor's income or when the client also needs healthcare or practice-banking support. It should be compared with the other lenders rather than selected on profession alone.
Read our Commonwealth Bank home-loan review.
NAB Healthcare Professional Package
NAB's LMI waiver covers doctors and certain dental, veterinary and allied-health occupations.
NAB's medical profession list includes:
- general practitioners and medical specialists;
- surgeons, anaesthetists, psychiatrists, radiologists and other recognised medical fields;
- dental practitioners;
- veterinarians;
- optometrists;
- pharmacists;
- physiotherapists; and
- chiropractors.
NAB can lend up to 95% without LMI for an eligible home purchase or later loan increase. Investment lending is capped at 90%. The waiver is not available where an individual property is worth more than $4.5 million or total NAB consumer lending is above $7 million.
Most of your income must come from the eligible medical work.
NAB is more flexible than many lenders on registration. It may accept provisional registration and certain limited registration categories used for supervised practice or postgraduate training. Student or non-practising registration does not qualify.
Read our full NAB home-loan review.
Westpac doctor home loan
Westpac has one option for doctors, dentists and medical specialists, and another for a wider group of healthcare professionals.
Westpac lends up to 95% LVR without LMI to:
- dentists;
- general practitioners;
- hospital-employed doctors, such as interns, residents, registrars and staff specialists; and
- recognised medical specialists.
A separate waiver goes up to 90% LVR for nurses, midwives, pharmacists, physiotherapists, psychologists, optometrists and other healthcare professionals on Westpac's list.
For the 90% healthcare waiver, combined income from the eligible work must be at least $90,000 a year. With Westpac's no-LMI option, you do not need to prove that you have held 5% genuine savings.
Westpac may also take a useful view of regular overtime and allowances for eligible healthcare workers. However, the percentage accepted and the documents required depend on the application.
The maximum loan without LMI is $5 million. If you already have higher-LVR loans with Westpac, St.George, Bank of Melbourne or BankSA, they count towards a combined $7.5 million limit. The property still needs to be acceptable to the lender.
Read our full Westpac home-loan review.
Bankwest Medical Practitioner Package
Bankwest has a medical-professional option with its own profession list and loan limits. Even though it is part of the Commonwealth Bank group, its rules are different.
The main things to compare are:
- whether the profession is currently eligible;
- how much you can borrow without LMI;
- how Bankwest treats your medical income;
- whether the property is acceptable to Bankwest; and
- how its rate and loan features compare with the major banks.
Bankwest can lend:
- up to $2 million against a property when borrowing just under 90%;
- up to $3 million against a property when borrowing under 85%; and
- up to $5 million total lending per borrower.
You need to repay principal and interest. During an eligible construction or renovation loan, Bankwest may allow interest-only payments until the loan is fully drawn. AHPRA registration generally needs to be general or specialist.
Physiotherapists, psychologists and nurses are not on Bankwest's medical list. It also has restrictions around foreign income, family guarantees, some apartments and off-the-plan properties, certain locations and business lending.
Read our full Bankwest home-loan review.
BOQ Specialist home loan
Other lenders worth comparing
The major banks are not the only options.
- St.George has similar 95% and 90% medical-professional options to Westpac. It can be a useful alternative for rates or loan features, but loans above 80% across the wider Westpac group count towards the same $7.5 million limit.
- Suncorp Bank offers up to 90% without LMI to eligible medical practitioners. Dentists and allied-health professionals are not included. Suncorp starts at $250,000 of new lending and caps total home lending at $1.5 million. Construction, bridging, business-name and trust loans are not available under this option.
- People First Bank offers up to 90% for eligible medical professionals, with up to $2 million against each property. It can cover a home, investment property or refinance, but not interest-only repayments, construction, vacant land or family guarantees.
- UBank does not have a special medical-professional waiver. Its general no-LMI option may still let you buy with a 10% deposit even if your profession is not on a medical waiver list.
- Macquarie does not currently offer a professional or medical LMI waiver. Its standard home loans may still be worth comparing, but being a doctor will not remove LMI on its own.
How to use these lender comparisons
The lender sections above explain the main differences, but they should not be read as a recommendation to apply to a particular bank.
Before recommending a lender, we still check:
- your exact medical profession and registration;
- whether the purchase is owner-occupied or an investment;
- whether repayments are principal and interest or interest only;
- how your salary, overtime, allowances, locum or practice income will be used;
- the property type, location and valuation;
- your deposit, genuine savings and purchase costs; and
- total lending, credit history and other debts.
The linked bank reviews explain each lender's broader home-loan range. We confirm the current medical-professional rules before applying.
How lenders assess medical income
Medical income is not always a simple base salary. Your application may include:
- overtime and penalty rates;
- on-call or shift allowances;
- locum income;
- contract or subcontractor income;
- income from more than one hospital or clinic;
- private-practice income;
- partnership or company distributions; or
- a recent move from training into a higher-paid role.
One lender may use most of an income component while another may shade it, average it or exclude it. The evidence required can also vary.
Salaried doctors
If you are salaried, lenders usually review recent payslips and may ask for an employment contract, income statement or evidence of regular overtime and allowances.
A recent promotion or new role can sometimes be used, but the lender may want written confirmation of the new salary and start date.
Locum and contract doctors
Locum or contract income can be acceptable, but lenders may want evidence of continuity and a history of earnings. The length of history required and the way income is averaged differ between lenders.
Self-employed doctors and dentists
If you are self-employed, you can still qualify for an LMI waiver. The bigger question is how much of your income the lender will use and what documents it will ask for. Our self-employed home-loan guide explains the common options in more detail.
If you are self-employed, expect to provide tax returns, notices of assessment, company financials, business activity statements, an accountant's letter or another accepted form of income evidence.
Westpac and St.George may accept one year of tax returns if you have been self-employed for at least one financial year, rather than the usual two-year history. They will still check your income, documents and the rest of the application.
It is worth reviewing this before applying. Sending the same self-employed application to the wrong lender can reduce your assessed borrowing capacity or create avoidable follow-up questions.
Product features of home loans for doctors
A medical-professional LMI waiver does not determine the loan features. Depending on the product, you may be able to choose from:
- variable, fixed or split rates;
- principal-and-interest or interest-only repayments;
- one or more offset accounts;
- redraw;
- extra repayments;
- construction lending;
- a separate family-guarantee option where the lender allows it; and
- lending in an individual, company or trust structure where the lender permits it.
The right features depend on what the property is for and how you manage your cash flow.
Fixed or variable rates?
Doctor home loans can usually be fixed, variable or split between the two.
A variable rate can make sense if you want an offset account, flexible extra repayments or the ability to refinance without fixed-rate break costs. The rate can move up or down during the loan term.
A fixed rate provides repayment certainty for the fixed period, but may restrict extra repayments and can involve break costs if you repay, refinance or change the loan early.
Construction lending is commonly variable while progress payments are being made. Depending on the lender and product, you may be able to review fixed or split options after construction is complete.
Offset accounts
Money held in an eligible offset account reduces the balance used to calculate interest. This can be useful for doctors who keep cash aside for tax, receive irregular income or want separate accounts for household and investment expenses.
Check whether the offset is 100%, whether multiple offsets are available and whether package or account fees apply.
Extra repayments
Extra repayments can reduce interest and shorten the loan term. Variable loans commonly allow them, while fixed loans may limit extra repayments or charge break costs if the loan is repaid or changed early.
Interest-only repayments
Borrowing with interest-only repayments is usually more restricted than the headline 90% or 95% figure suggests.
ANZ is one of the more flexible lenders for investment loans, although higher-LVR interest-only loans are harder to qualify for. CBA and Bankwest generally require principal and interest repayments for their medical-professional waivers.
Bankwest may allow interest-only payments while an eligible construction loan is being drawn. With Westpac and St.George, the loan needs to switch to principal and interest repayments after the interest-only period.
The lender will check the loan purpose, LVR, interest-only term and the higher repayments that start later.
During an interest-only period, the loan balance does not reduce unless you make additional repayments. Total interest is usually higher than it would be under principal-and-interest repayments over the same overall term.
Doctor home loans for investment properties
Medical-professional LMI waivers are available for investment properties as well as owner-occupied homes with certain lenders. Others let you borrow less for an investment property or apply different rates and repayment conditions.
For an investment purchase, we look at more than the waiver:
- the lender's treatment of rental income;
- existing property debt and limits on total lending;
- whether interest-only repayments are available;
- offset availability;
- cash-out and equity-release rules; and
- whether the structure fits the advice you have received from your accountant and solicitor.
We can help with the lending structure, but we do not provide tax or legal advice.
Buying or refinancing a medical practice
Practice finance is different from a residential doctor home loan. It may involve a commercial property loan or separate business facilities for:
- practice goodwill;
- commercial property;
- equipment and fit-out;
- working capital; or
- the purchase of an existing practice.
The amount, property offered to the lender and loan term depend on the practice, your experience, the transaction and the lender. Residential and practice lending can also affect each other, so it is worth planning both before committing to a purchase.
Choosing a lender: mortgage broker or bank?
Going directly to your bank can work when its rules fit your situation. The limitation is that one bank can only show you its own profession list, way of assessing income, rates and lending rules.
A broker can compare multiple lenders before an application is submitted.
For a doctor home loan, that comparison can be particularly useful when you:
- have less than a 20% deposit;
- receive overtime, allowances or locum income;
- recently changed roles;
- are self-employed or operate through a company or trust;
- are buying a high-value or unusual property;
- want interest-only repayments; or
- already have substantial home, investment or practice debt.
How Hunter Galloway helps
Our process is straightforward:
- Understand the goal. We discuss the property, deposit, timing, income and existing commitments.
- Check the lenders before applying. We compare the banks that currently recognise your profession and circumstances.
- Compare the options. We look at how much you can borrow, whether LMI applies, the rate, repayments, fees and useful features.
- Prepare the application. We present your income and supporting documents clearly, including any overtime, contract or self-employed income.
- Manage the loan through settlement. We coordinate the application, valuation, approval conditions and loan documents, and keep you updated.
In most standard residential matters, our service is paid for by the lender after settlement rather than through a separate broker fee. We will disclose any commission and any fee that applies before you proceed.
Frequently asked questions
1. Can doctors borrow 95% without LMI?
Yes, with certain lenders. Doctors, dentists and medical specialists can borrow up to 95% LVR without LMI. Your registration, income, deposit, other debts and the property still matter.
2. Do all doctors qualify for the same LMI waiver?
No. Lenders use different profession lists and conditions. An intern, GP, surgeon, dentist, veterinarian, pharmacist and physiotherapist may each have a different maximum LVR depending on the lender.
3. Do I need to be an Australian Medical Association member?
Not in every case. Requirements differ: one lender may focus on AHPRA or another professional registration, while another may ask for membership of an approved association. We check the requirement for the lender being considered.
4. Does my partner also need to be a doctor?
Usually not, but the eligible medical professional needs to play a meaningful role in the application. NAB requires most of the income to come from the eligible work. Westpac and St.George require the medical professional to be involved in the transaction at least as a guarantor. Ownership, income and borrower rules still apply.
5. Can an intern, resident or registrar qualify?
Yes, depending on the lender and the registration type on your AHPRA record. An intern may still have provisional registration, while an Australian-trained resident or registrar will usually have general registration. Some no-LMI options accept provisional registration or certain limited-registration categories. Others require general or specialist registration. Your employment, income, deposit and property still need to fit.
6. If I am a registrar, will my registration be a problem?
For most Australian-trained registrars, registration is not the main issue because they usually hold general registration. Lenders are more likely to ask about rotating hospital contracts, a recent change of hospital and how overtime, on-call work or shift allowances are paid. An overseas-trained registrar may hold limited registration, which needs a separate check.
7. Can an overseas-trained doctor with limited registration get an LMI waiver?
Possibly. The reason you have limited registration matters. Some no-LMI options are available for postgraduate training or supervised practice but not for every limited-registration category. Others do not accept limited registration. Your visa or residency status is checked separately, so your AHPRA entry and visa details need to be reviewed together.
8. My registration is about to change. Should I wait?
Not always. If you move from provisional to general registration before you apply, more lenders may become available. If it changes after you apply, send the lender updated evidence from AHPRA. The best timing depends on your deposit, expected registration date and property plans.
9. Does non-practising registration rule me out?
For a medical LMI waiver, it often does. If you are only away from work temporarily, for example on parental leave, a lender may look at your return-to-work date and employment evidence before deciding. A standard home loan may still be available even if the profession-based waiver is not.
10. Can self-employed doctors and dentists get an LMI waiver?
Yes. The main issue is proving the income the lender can use, not simply whether you are self-employed. Westpac and St.George may accept a single year of tax returns if you have been self-employed for at least one financial year.
11. Can locum or contract income be included?
Usually, if you can show the income is ongoing. A lender may ask for current contracts, payslips, invoices, tax records or a history of earnings.
12. Can I use a doctor LMI waiver for an investment property?
Yes, with lenders that extend their waiver to investment loans. Maximum LVR, rates and interest-only rules may differ from an owner-occupied loan.
13. Can allied-health professionals avoid LMI?
Yes. Depending on the lender, this can include pharmacists, physiotherapists, psychologists, optometrists, chiropractors, nurses, midwives and other registered healthcare professionals. Income thresholds and maximum LVRs vary. We also have separate guides for nurses and midwives, physiotherapists and pharmacists.
14. Is the lender that lets me borrow the most always the best choice?
No. The best option depends on the total cost, repayments, how the lender treats your income, the property and the loan features. A 90% option can sometimes be stronger or cheaper than a 95% option.
15. Do I still need genuine savings?
Possibly. Genuine-savings requirements differ between lenders and can depend on how much you are borrowing and where the deposit came from. With Westpac's no-LMI option, you do not need to prove that you have held 5% genuine savings. Other lenders may treat gifted funds, equity, sale proceeds and savings history differently.
16. How quickly can I get pre-approved?
It depends on the lender, the complexity of your income and whether all documents are ready. A simple salaried application can be faster than a multi-entity or self-employed application. Our home-loan pre-approval guide explains what is checked now and what can remain outstanding. We will give you a realistic timeframe once we have reviewed the scenario.
17. Could the Australian Government 5% Deposit Scheme be better than a doctor LMI waiver?
Possibly. The best option depends on whether you qualify, which lenders are available, the deposit required and the overall loan terms. A doctor waiver may have different profession and property rules, while the Australian Government 5% Deposit Scheme has its own buyer, occupancy, property-price and participating-lender requirements. Its single-parent stream may allow an eligible buyer to purchase with a deposit as low as 2%.
18. What happens if the bank valuation is lower than the purchase price?
The lender uses its own accepted valuation when working out how much it will lend. If the valuation is low, you may need a larger cash contribution, a different loan setup or another lender. Our guide explains the practical options when you need to challenge or respond to a bank valuation.
19. Does HECS or HELP debt affect a doctor's borrowing capacity?
It can. A medical-professional LMI waiver removes an insurance cost, but the lender still checks whether you can afford the repayments. Required HECS or HELP repayments can reduce your borrowing power. Read our guide to HECS debt and borrowing power.
20. Can a doctor on a temporary visa qualify?
It depends on your visa. Borrowing limits and foreign-buyer requirements vary substantially. The visa and doctor home-loan rules need to be checked together. Start with our visa home-loan guide.
21. What if I am on parental leave or about to start a higher-paid role?
Your return-to-work income or a signed employment contract may be usable, depending on the evidence and timing. Lenders take different approaches. ANZ does not normally accept non-practising registration, but it may consider a temporary absence such as parental leave. We check the proposed return date, current savings, employment evidence and any expected income gap before selecting a lender.
22. Can I use a doctor LMI waiver for construction or an unusual property?
Yes, but the 90% or 95% limit does not apply to every property. CBA excludes land and construction from its Professionals Offer. Bankwest can permit construction, with interest-only repayments while the loan is progressively drawn. Westpac and St.George can permit eligible fixed-price construction with a licensed builder. Suncorp and People First exclude construction from their medical-professional options.
High-density apartments, small units, serviced apartments, rural properties and postcode-restricted locations can also attract lower LVRs or extra conditions. The property should be checked before you rely on the waiver or bid unconditionally.
Sources used for this guide
We reviewed the following primary sources when updating this guide on 26 August 2026:
- AHPRA Register of practitioners for professional-registration checks.
- Medical Board of Australia types of medical registration for the definitions of general, specialist, provisional, limited, non-practising and student registration.
- Moneysmart definition of Lenders Mortgage Insurance for what LMI covers and who it protects.
- ANZ medical and dental LMI-waiver guide for its published medical-practitioner, specialist and dentist pathway.
- Westpac broker policy for its published 95% and 90% medical-professional LMI-waiver groups.
- NAB professional LMI-waiver guide for its eligible medical professions and registration requirements.
- Commonwealth Bank healthcare banking for the healthcare professions and specialist banking support it covers.
- Australian Government 5% Deposit Scheme for current scheme eligibility, deposits and participating-lender requirements.
- Moneysmart interest-only home-loan guide for how interest-only periods affect the loan balance and later repayments.
- Moneysmart guarantor guide for the obligations and risks of guaranteeing a loan.
- Moneysmart guide to choosing a home loan for comparing repayment types, loan terms and total costs.
Lender rules can change without notice. Public lender pages do not contain every condition, so we confirm the current broker information before making a recommendation.
Next steps: how to apply for a doctor home loan
Before you make an offer or submit a bank application, we can check:
- whether your profession qualifies for a 90% or 95% LMI waiver;
- how much of your income each suitable lender may use;
- the deposit and purchase costs you will need;
- whether the target property is acceptable to the lender; and
- which option gives you the strongest overall result.
Call Hunter Galloway on 07 3522 3342 or request a free assessment online.
Information is general and does not take into account your objectives, financial situation or needs. Lending criteria, profession lists, interest rates and LMI-waiver policies can change. Your full financial situation must be reviewed before you accept any loan or product.