Physiotherapist home loans: LMI waivers and deposits

As a physio, you may be able to buy with a 5% or 10% deposit plus costs and no LMI. I'd first check your registration, income and property before setting that target. The highest limit applies to an eligible home you'll live in; investment and construction loans can need more cash.

If you've recently opened a clinic, the income records a lender can use may decide which options fit. Once we've checked those, we can compare the repayments and the cash you'll have left after buying.

Our LMI Waivers guide explains the wider options. Use the deposit calculator and LMI calculator for an initial estimate.

For a $1.2m established property, these figures use Queensland duty rates checked on 11 September 2026. They assume no foreign buyer surcharge or other exemption. Your eligibility, contract date and property type determine the actual duty.

Allow extra for conveyancing, inspections, registration fees, settlement adjustments and a cash buffer. The home concession depends on meeting the occupancy and other rules.

For this illustration, assume a $900k established Queensland home, the same bank valuation and $200k in savings. Allow $35k for buying costs: $26,350 in transfer duty using the eligible home concession, plus an illustrative $8,650 for other costs.

The example assumes you meet the home concession rules, with no foreign buyer surcharge or other exemption. The allowance for other costs isn't a fee quote. Cash remaining is what is left after your contribution to the price and these assumed buying costs.

Same $900k home, $90k deposit and $810k loan before LMI. The estimate is about $17k, using our LMI calculator on 11 September 2026. The premium varies by lender and property; buying costs are extra.

With the same $90k deposit and $810k starting loan, the waiver saves about $17k in this example. If a standard loan adds LMI to the balance instead of charging it upfront, you borrow more and pay interest on the premium too.

Choosing 5% instead of 20% reduces your contribution by $135k and adds $135k to the loan. At an illustrative 6% over 30 years, that's about $809 more a month with principal and interest repayments, before fees. Under these assumptions, the 20% option needs $215k for the deposit and costs: $15k more than the available savings, before allowing a cash buffer.

A lower valuation changes the contribution too. At 95%, an $880k bank valuation supports an $836k loan. On a $900k purchase, you need $64k towards the price: $19k more than the $45k shown above. After the same $35k cost allowance, your $200k savings leave $101k.

Have your current Ahpra registration and evidence that you're practising ready. I’d check the registration category before setting a deposit target, particularly if you have provisional or limited registration.

ANZ’s published brochure requires accepted general registration and the largest or equal largest ownership share. With 2 owners, the eligible physio needs at least half the property. Tell us the proposed ownership split early so the loan and title arrangements can be checked together.

ANZ states no minimum professional income. NAB has no fixed dollar threshold, but primary income must come from eligible professional work. You still need enough accepted income for the repayments.

Westpac and St George use a $90k eligible profession income test. A partner’s unrelated salary or rent may help borrowing capacity without meeting that test. If both applicants work in eligible professions, we check whether their qualifying income can be combined.

If extra shifts make up a useful part of your pay, I’d check how much the lender can count before estimating your budget. Bring the payment history as well as your latest payslip, including any work across clinics.

St George may assess 100% of overtime and allowances for eligible employed physiotherapists. It generally needs 6 months of evidence with the same employer; shorter histories can be referred. This benefit excludes self employed applicants. See St George’s conditions.

You may still have options after a job change or while on probation. We’ll check your contract, work history and income records. New graduates should have their registration, salary and start date checked before relying on a low deposit.

If your practice has completed 1 full financial year, Westpac or St George may be able to use that year's tax returns under its medical profession package. The lender still needs to accept your trading history and the income left after business costs.

If you’ve just opened a clinic, send us the latest completed year’s accounts and tell us when you started trading. We’ll check which lender can use those figures and include the practice debts before working out your budget. NAB still needs acceptable business income evidence.

Our self employed home loan guide explains the common document options.

CBA and Bankwest's professional waivers exclude physiotherapists under the lending criteria checked for this guide. We can still compare their standard loans. A profession waiver doesn't establish which loan will cost you least.

Rates, fees and the amount of income a lender accepts can change the result. Westpac and St George have related policies, but their products and pricing can differ.

The Government 5% Deposit Scheme is available to eligible Australian citizens or permanent residents aged 18 or over who are first home buyers or haven't owned Australian property in the last 10 years. You need to live in the home, meet its location's price cap and apply through a participating lender for principal and interest repayments. There is no income cap, but lending approval still applies. The lender may require a deposit above 5%, so I'd check how much of your savings you can keep before setting your deposit.

A family guarantee may reduce or avoid LMI. The guarantor takes on financial risk and should get independent advice, including how the guarantee could be released.

A standard loan with LMI or a larger deposit may work better overall. I'd compare the loan cost and cash remaining without assuming property prices or rates will move in your favour.

A home loan pre-approval can help set a budget. The bank still needs to accept the property and confirm any changes to your position before final approval.

We explain lender commission and any fees before you proceed. Our lender review method explains how we compare the options. You choose the lender.