Podiatrist home loans: LMI waivers and deposit options

As a registered podiatrist, you may be able to buy with about a 10% deposit plus costs and have lenders mortgage insurance (LMI) waived. I'd start with your registration and where your income comes from. A salary from a clinic and earnings from your own practice can lead to different assessments.

Then we can work out the loan, repayments and cash you'll have left after buying. If you miss one lender's income requirement, it is worth checking the other routes before deciding you need to save a 20% deposit.

Our LMI waivers guide explains the wider options. Use the LMI calculator for a starting estimate and the deposit calculator to work through the cash you'll need.

In this example, you're buying a $900k home, the bank values it at $900k and you have $220k in savings. I've allowed $30k for buying costs in each option so you can see the cash left over. Your actual duty, legal costs and fees may be different.

With the same $900k property and $810k loan, an eligible waiver could save about $17k in LMI.

The estimated $17,010 premium, dated 11 September 2026, uses our LMI calculator for a $900k home and $90k deposit, rounded to about $17k. The comparison assumes LMI is paid upfront; premiums vary by lender. Adding LMI to the loan increases the balance and interest.

With $220k saved and a $30k buying cost allowance, you would have $100k left after a 10% deposit and waiver. Paying the estimated LMI upfront leaves about $83k. A 20% deposit uses $210k including costs and leaves $10k, with a smaller $720k loan.

Choosing 10% instead of 20% leaves $90k more cash and $90k more debt. I'd check what you need for living costs and planned clinic expenses before choosing.

Using 6% over 30 years with principal and interest repayments, an extra $90k costs about $540 a month. That excludes fees and assumes no offset balance or extra repayments.

I'd start with your current practising registration on the Ahpra register. A podiatry assistant or student is a different category. If your registration is limited, conditional or non-practising, we need the lender to check the exact status before relying on a waiver.

Keep your registration details handy. The Podiatry Board registration guidance explains the professional categories; the lender separately decides whether your category fits its offer.

Westpac and St George require at least $90k a year from eligible professional work. Qualifying earnings from 2 eligible applicants can be combined. Your partner's unrelated salary may help cover repayments, but it doesn't fill a shortfall in that profession test.

CBA has no fixed minimum professional income for eligible podiatrists. Its $100k professional income floor applies to pharmacists, not podiatrists. You still need enough accepted income to cover the loan and other commitments. CBA excludes unemployed applicants, including students and retirees, so I'd check your employment position if you're between roles.

If you split your week between an employed role and your own clinic, I'd separate the salary from your practice income. Patient fees still have to cover clinic expenses before we can work out what's available for repayments.

Westpac Group may assess eligible self employed podiatrists using 1 year of tax returns after at least 1 financial year in business. Send us your completed returns and current trading figures so we can check the income available for the loan.

I'd check how much of your overtime, allowances, commission and extra sessions each lender will count. Podiatrists appear on Westpac and St George's waiver lists, but not on their separate published lists for 100% overtime and allowances. Don't assume the waiver also means all your overtime and allowances will count.

I'd compare the lenders that cover podiatry first, using the deposit, repayments and property you're planning to buy.

The main options are below. Other banks may still offer you a standard home loan even where their professional waiver doesn't cover podiatrists.

Don't assume every allied health profession gets the same offer. ANZ's medico waiver includes eligible physiotherapists at up to 90% of the accepted property value, but explicitly excludes podiatrists with no exceptions. If you're comparing with our physiotherapist home loan guide, use the rules for your own registered profession.

Tell us the investment address and price early so we can check the tier before you rely on the smaller deposit.

Westpac Group allows lending to the eligible professional's spouse, or to a company or trust where the professional is an owner or director, provided the professional is involved in the transaction at least as a guarantor. You don't necessarily have to be the sole borrower. The professional income test and the assessment of everyone's repayments still apply.

CBA's offer requires borrowing in your own names or through a qualifying trust where the applicant is a director or trustee. I'd check the proposed ownership and borrowing structure before you sign a contract.

I'd compare the rate, repayments and fees for the actual product you qualify for. That includes any application, valuation, settlement, account, offset or package fee. For a refinance, include the fee for closing your existing loan and any cost of ending a fixed rate early.

A waiver can save you money upfront, but a higher rate or recurring fee can reduce that benefit over time. We can compare the costs over the period you expect to keep the loan.

The Australian Government 5% Deposit Scheme may suit you if you're buying your first home or haven't owned property or land in Australia for 10 years. You must be an Australian citizen or permanent resident aged at least 18, meet the local property price cap and live in the home. A participating lender must approve the principal and interest loan. Buying costs are extra.

The earlier example doesn't qualify for the Scheme: $220k in savings less the $30k buying cost allowance leaves $190k, which is more than the $180k needed for a 20% deposit.

For a different buyer who meets the Scheme rules, a minimum 5% deposit on a $900k home is $45k and the loan is $855k. That uses $45k less towards the price than a 90% loan and adds $45k to the debt. The lender may require more than the minimum deposit.

A general 90% loan without LMI may fit if your income supports the repayments but the profession waiver doesn't. Check the purchase and refinance limits separately.

A family guarantee may also reduce or avoid LMI. It puts your guarantor's property at risk, so we'd work through the amount and the plan for releasing the guarantee. Saving more or paying LMI on another suitable loan can also be worth comparing.

A gifted deposit can still need evidence showing where the money came from and whether it must be repaid. Westpac Group's waiver of the 5% genuine savings verification requirement doesn't remove the deposit, buying costs or other application checks.

Tell us about upcoming leave, a change in hours, a new clinic or a planned business purchase. The loan should reflect the earnings and commitments you expect to have, not just the last payslip.

The lender pays us commission, which we disclose before you proceed. We compare the waiver with other suitable loans so you can weigh up the repayments, features and total cost.