How LMI waivers work
Eligible doctors and dentists can borrow up to 95% without LMI through selected lenders. Westpac and St George publish a 90% offer for eligible vets, nurses and allied health professionals. Start with your exact role, then compare the deposit, repayments and fees. See our LMI waiver for doctors and dentist home loan guide.
The lender checks your registration, income, employment type, loan purpose, property and loan amount as well as your job.
LMI (lenders mortgage insurance) protects the lender if the home is sold and the sale does not clear the outstanding loan. You usually pay the premium when the lender treats the loan as higher risk, often above 80% LVR. It does not protect you if you cannot make the repayments.
What the waiver changes
The lender agrees not to charge the LMI premium even though your deposit is below its usual threshold. You still need approval, and a smaller deposit leaves less equity between the loan and the property value.
Above 80%
This is where LMI normally becomes relevant.
Up to 90%
Published offers cover several healthcare and essential-services roles.
Up to 95%
Available to selected professions, depending on the lender, loan purpose and property.
What changes on a $900k property?
20% price contribution
$180k
10% price contribution
$90k
Cash you keep
$90k
Property-price contribution only. Buying costs, the lender valuation, cash buffer, loan limits and the full assessment can change the amount you need.
Watch on YouTube: What Is Lenders Mortgage Insurance? [How to Avoid LMI in Australia]
How much LMI could a waiver save?
For a rough starting point, our LMI calculator estimates the following premiums at 90% LVR. These are estimates from our model, not lender quotes. They exclude insurance duty, buying costs and interest if the premium is added to the loan.
| Home price | Deposit | Base loan | Estimated premium without a waiver | LMI with an eligible waiver |
|---|---|---|---|---|
| $750k | $75k | $675k | $12.15k | $0 |
| $1m | $100k | $900k | $18.9k | $0 |
LMI premium estimates at 90% LVR
$750k
- Deposit
- $75k
- Base loan
- $675k
- Estimated premium without a waiver
- $12.15k
- LMI with an eligible waiver
- $0
$1m
- Deposit
- $100k
- Base loan
- $900k
- Estimated premium without a waiver
- $18.9k
- LMI with an eligible waiver
- $0
That is about $12.15k or $18.9k you would not pay in LMI in these examples. The actual premium depends on the lender, insurer and application. Compare the loan's interest and fees as well as that upfront saving.
Check your deposit and loan amount
Choose your profession and employment type, then enter the property price and the amount you plan to borrow. For example, enter 900000 and 810000 for a $900k home with a $90k deposit. The result shows how much of the price you would borrow and what to check for your role.
Your proposed loan
Search your profession or employer category
Type your job title or employer category, or choose a group. Similar roles stay separate because lenders do not always treat them the same way.
28 of 28 options
Scroll sideways to see all columns.
| Profession or employer | What the comparison shows | What to verify |
|---|---|---|
| Medical, dental and veterinary | ||
| Doctors and medical specialists | Westpac and St George publish up to 95% without LMI for eligible doctors and dentists, including listed hospital-employed junior doctors. | Check your registration, employment, income and property. A published deposit limit is not an approval. |
| Interns, residents and registrars | Westpac and St George publish up to 95% without LMI for eligible doctors and dentists, including listed hospital-employed junior doctors. | Check your registration, employment, income and property. A published deposit limit is not an approval. |
| Psychiatrists | Westpac and St George publish up to 95% without LMI for eligible doctors and dentists, including listed hospital-employed junior doctors. | Check your registration, employment, income and property. A published deposit limit is not an approval. |
| Dentists | Westpac and St George publish up to 95% without LMI for eligible doctors and dentists, including listed hospital-employed junior doctors. | Check your registration, employment, income and property. A published deposit limit is not an approval. |
| Veterinarians | Westpac and St George publish up to 90% without LMI for this listed profession. | Their public offer requires at least $90k a year and the listed qualification or registration. We check your role, income and proposed loan. |
| Health professions | ||
| Registered nurses | Westpac and St George publish up to 90% without LMI for registered nurses. People First also includes registered nurses in its Essential Services Package. Enrolled nurses don't qualify for a waiver at any lender we use. | Westpac and St George require at least $90k a year from eligible professional income and the required registration. People First has different income rules. Our nurse guide explains the individual and joint application requirements. |
| Midwives | Westpac and St George publish up to 90% without LMI for this listed profession. | Their public offer requires at least $90k a year and the listed qualification or registration. We check your role, income and proposed loan. |
| Physiotherapists | Westpac and St George publish up to 90% without LMI for this listed profession. | Their public offer requires at least $90k a year and the listed qualification or registration. We check your role, income and proposed loan. |
| Chiropractors | Westpac and St George publish up to 90% without LMI for this listed profession. | Their public offer requires at least $90k a year and the listed qualification or registration. We check your role, income and proposed loan. |
| Optometrists | Westpac and St George publish up to 90% without LMI for this listed profession. | Their public offer requires at least $90k a year and the listed qualification or registration. We check your role, income and proposed loan. |
| Pharmacists | Westpac and St George publish up to 90% without LMI for this listed profession. | Their public offer requires at least $90k a year and the listed qualification or registration. We check your role, income and proposed loan. |
| Psychologists | Westpac and St George publish up to 90% without LMI for this listed profession. | Their public offer requires at least $90k a year and the listed qualification or registration. We check your role, income and proposed loan. |
| Occupational therapists | Westpac and St George publish up to 90% without LMI for this listed profession. | Their public offer requires at least $90k a year and the listed qualification or registration. We check your role, income and proposed loan. |
| Podiatrists | Westpac and St George publish up to 90% without LMI for this listed profession. | Their public offer requires at least $90k a year and the listed qualification or registration. We check your role, income and proposed loan. |
| Radiographers | Westpac and St George publish up to 90% without LMI for this listed profession. | Their public offer requires at least $90k a year and the listed qualification or registration. We check your role, income and proposed loan. |
| Sonographers | Westpac and St George publish up to 90% without LMI for this listed profession. | Their public offer requires at least $90k a year and the listed qualification or registration. We check your role, income and proposed loan. |
| Speech pathologists | Westpac and St George publish up to 90% without LMI for this listed profession. | Their public offer requires at least $90k a year and the listed qualification or registration. We check your role, income and proposed loan. |
| Audiologists | Westpac and St George publish up to 90% without LMI for this listed profession. | Their public offer requires at least $90k a year and the listed qualification or registration. We check your role, income and proposed loan. |
| Osteopaths | Westpac and St George publish up to 90% without LMI for this listed profession. | Their public offer requires at least $90k a year and the listed qualification or registration. We check your role, income and proposed loan. |
| Legal and finance | ||
| Lawyers | NAB lists eligible legal and finance professionals at up to 90% without LMI. Law graduates who aren't admitted, and associate or provisional accounting members, aren't eligible at any lender we use. | Your practising certificate or professional membership needs to match the lender's list. We'll confirm the current limits with you. |
| Accountants, actuaries and financial analysts | NAB lists eligible legal and finance professionals at up to 90% without LMI. Law graduates who aren't admitted, and associate or provisional accounting members, aren't eligible at any lender we use. | Your practising certificate or professional membership needs to match the lender's list. We'll confirm the current limits with you. |
| Essential services | ||
| Police officers | People First publishes up to 90% without LMI, with loans up to $1.2m under its Essential Services Package. | The public offer covers sworn state or federal police officers and fully qualified paramedics. Income requirements apply. We'll confirm the current limits with you. |
| Paramedics | People First publishes up to 90% without LMI, with loans up to $1.2m under its Essential Services Package. | The public offer covers sworn state or federal police officers and fully qualified paramedics. Income requirements apply. We'll confirm the current limits with you. |
| Firefighters | P&N publishes a 90% no-LMI offer for eligible salaried firefighters in selected WA locations. It is available directly from P&N, not through brokers. | You must work in WA, have completed probation and buy in Perth metro, Bunbury, Busselton, Albany or Geraldton. Owner-occupied principal and interest loans start at $250k. |
| Employer-based options | ||
| Bank employees | An employer-based option needs an individual check. We do not publish a private employer list or borrowing limit. | Send us the legal employer on your payslip, your role and employment history. We'll confirm the current limits with you. |
| Employees of listed technology companies | An employer-based option needs an individual check. We do not publish a private employer list or borrowing limit. | Send us the legal employer on your payslip, your role and employment history. We'll confirm the current limits with you. |
| Eligible Federal Government employees | An employer-based option needs an individual check. We do not publish a private employer list or borrowing limit. | Send us the legal employer on your payslip, your role and employment history. We'll confirm the current limits with you. |
| Other low-deposit options | ||
| My job is not listed | You may still have a general 90% no-LMI option or qualify for the Australian Government 5% Deposit Scheme. | Deposit, scheme eligibility, income, loan purpose and property. |
This is a starting comparison. The lender still checks the full application and the property.
Tell us your role, employer and deposit. We can check the waiver options against your circumstances before you plan around one.
Could your job help you avoid LMI?
Which lenders publish an LMI waiver?
| Lender and public source | What it publishes | What to check |
|---|---|---|
| Westpac / St George | Up to 95% for eligible doctors and dentists. Up to 90% for listed allied health roles and vets, with at least $90k annual income. | Registration, income, property and loan requirements still apply. |
| NAB | Up to 95% for eligible doctors, dentists and listed allied health roles buying a home to live in, and 90% for investment, construction, lawyers and accountants. | Each supporting property up to $4.5m and $7m of total NAB lending. Company and trust borrowers and owner occupied interest only are excluded. NAB does not list nurses, midwives, psychologists, OTs, podiatrists, radiographers, audiologists, sonographers or speech pathologists. |
| ANZ | Up to 95% for eligible doctors and dentists buying a home or investment on principal and interest repayments, with debt and eligibility limits to check. | ANZ needs general or specialist registration. Home and investment loans on principal and interest can reach 95% when total debt is under 6 times accepted income, or 90% at 6 times or more. An eligible existing ANZ customer can still reach 95% for a home to live in above that threshold. Interest-only has separate limits. |
| People First medical package | Up to 90% without LMI and loans up to $2m for listed medical professionals. | Income requirements apply. Home and investment options are available. |
| People First essential services | Up to 90% without LMI and loans up to $1.2m for registered nurses, sworn police and fully qualified paramedics. | Income and other eligibility requirements apply. |
| P&N Bank (WA) | Up to 90% without LMI for listed essential-services workers in selected WA locations. | Direct applications only. We cannot arrange this offer. Owner-occupied principal and interest, at least $250k, completed probation. |
| ubank | Eligible buyers can borrow up to 90% without LMI, regardless of profession. | Higher-LVR offers are for purchases. Refinancing has lower limits. Compare the rate and fees. The separate sole-trader option stops at 80% LVR. |
Public lender offers checked 19 October 2026
- What it publishes
- Up to 95% for eligible doctors and dentists. Up to 90% for listed allied health roles and vets, with at least $90k annual income.
- What to check
- Registration, income, property and loan requirements still apply.
- What it publishes
- Up to 95% for eligible doctors, dentists and listed allied health roles buying a home to live in, and 90% for investment, construction, lawyers and accountants.
- What to check
- Each supporting property up to $4.5m and $7m of total NAB lending. Company and trust borrowers and owner occupied interest only are excluded. NAB does not list nurses, midwives, psychologists, OTs, podiatrists, radiographers, audiologists, sonographers or speech pathologists.
- What it publishes
- Up to 95% for eligible doctors and dentists buying a home or investment on principal and interest repayments, with debt and eligibility limits to check.
- What to check
- ANZ needs general or specialist registration. Home and investment loans on principal and interest can reach 95% when total debt is under 6 times accepted income, or 90% at 6 times or more. An eligible existing ANZ customer can still reach 95% for a home to live in above that threshold. Interest-only has separate limits.
- What it publishes
- Up to 90% without LMI and loans up to $2m for listed medical professionals.
- What to check
- Income requirements apply. Home and investment options are available.
- What it publishes
- Up to 90% without LMI and loans up to $1.2m for registered nurses, sworn police and fully qualified paramedics.
- What to check
- Income and other eligibility requirements apply.
- What it publishes
- Up to 90% without LMI for listed essential-services workers in selected WA locations.
- What to check
- Direct applications only. We cannot arrange this offer. Owner-occupied principal and interest, at least $250k, completed probation.
- What it publishes
- Eligible buyers can borrow up to 90% without LMI, regardless of profession.
- What to check
- Higher-LVR offers are for purchases. Refinancing has lower limits. Compare the rate and fees. The separate sole-trader option stops at 80% LVR.
St George publishes its profession offer here. P&N's eligible WA locations are Perth metro, Bunbury, Busselton, Albany and Geraldton. Its offer includes listed salaried teachers, firefighters, police, nurses, doctors and paramedics.
Starting as an intern or resident? Our junior doctor home loan guide explains registration, first payslips and hospital contracts. For how lenders treat interns, residents, registrars and locums, see the doctor guide's lender rules by career stage.
When your employer matters more than your job title
Your employer can affect your options, but a job in banking, technology or government does not establish eligibility. We check the current offer against your own employment details.
Send us your legal employer, job title and employment history. We'll confirm the current limits with you before you rely on an employer-based waiver.
Send us your legal employer, job title and employment history. We'll confirm the current limits with you before you rely on an employer-based waiver.
Send us your legal employer, job title and employment history. We'll confirm the current limits with you before you rely on an employer-based waiver.
What can stop the waiver after your job qualifies?
- Loan purposeConstruction, land, bridging, refinance and investment can be treated differently.
- EmploymentDirect PAYG, fixed-term, casual, probation, agency and contractor work are not interchangeable.
- QualificationRegistration, practising certificates and professional memberships must match the exact lender list.
- Income thresholdSome offers require a minimum from the qualifying work rather than total household income.
- Property and valuationThe waiver does not override postcode, property-type or lender-valuation rules.
- Product and loan capThe repayment type, loan package, maximum loan and your total borrowing with the lender can also affect eligibility.
If your job is not listed
Your occupation does not always need to appear on a professional-waiver list. Compare the waiver with the other ways to buy without a 20% deposit.
General 90% no-LMI option ubank offers eligible buyers up to 90% without LMI, regardless of profession. We still check its deposit, income and property requirements for your loan. That 90% limit does not apply to ubank's sole-trader option, which is capped at 80%.
Australian Government 5% Deposit Scheme May work for eligible buyers under the buyer, occupancy, price-cap and participating-lender rules.
Help to Buy scheme Eligible buyers within the income limits can buy with a deposit from 2% while the government takes a share of the home. Read our Help to Buy scheme guide.
Family-guarantee loan Family equity can reduce or avoid LMI, but creates real obligations and needs a release plan.
Standard loan with LMI Paying LMI can be sensible if it opens a better lender or lets you buy sooner and keep a cash buffer.
Use the LMI calculator for an estimate and the LVR calculator for the proposed loan percentage. Our LMI guide explains who the insurance protects.
Related guides
LMI waiver questions
The questions that most often change the shortlist.
Experience and sources
How this guide was checked
We checked the lender pages linked below. The directory separates published offers from details we need to confirm for your application. ANZ's linked guide is dated August 2024. The LMI examples use our calculator's estimate model at 90% LVR, before insurance duty.
Nathan Vecchio is a director and mortgage broker at Hunter Galloway. He helps buyers compare deposit options and lenders, alongside his work with refinancing and investment loans.
This guide is general information only. It doesn't consider your objectives, financial situation or needs, and lender policy can change. Talk to a broker before acting on it.
Sources
- Moneysmart LMI definition
- Ahpra register
- NAB LMI waiver
- ANZ LMI guide
- Australian Government 5% Deposit Scheme
- ASIC best-interests guidance
- Westpac public healthcare offer
- St George public profession offer
- ANZ medical and dental guide, August 2024
- People First medical package
- People First essential services package
- P&N direct-only WA essential services offer
- ubank no-LMI home loans
- Hunter Galloway LMI estimate calculator
- ubank sole-trader offer: checked 29 October 2026
Public lender offers checked 19 October 2026. Employer-based and unpublished limits require an individual check.
Do we get paid more to recommend a waiver lender?
Hunter Galloway is independently owned and is not connected to any lender. Most major lenders we use pay broadly similar commissions, and we disclose the amount before you proceed.
We compare more than 30 lenders and explain why a loan suits you before you apply. Read how we review lenders.
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Let us check the rule for your exact job
Share your occupation, legal employer, employment type, income, property value and proposed loan. We'll compare the waiver with other low-deposit options before you apply.
- 1Share your scenario
Tell us your job, employment arrangement and proposed loan.
- 2Compare the options
We check lender policy and explain the next step.