Medical Professional LMI Waivers

Eligible medical and allied health professionals may be able to purchase with a 5% or 10% deposit without paying Lenders Mortgage Insurance.

Eligible occupations, maximum loan-to-value ratios, income requirements and accepted property types differ between lenders.

How Much Money Could You Save?

Lenders Mortgage Insurance can add thousands to the cost of buying a property. If you qualify for a medical professional LMI waiver at 90% LVR, here is an indication of what you could avoid paying.

Flexible Medical Income Assessment

Certain lenders have policies designed around healthcare income. These may provide more favourable treatment of overtime, shift allowances, penalty rates, on-call payments, locum work or practice income.

The strongest lender for your base salary may not be the strongest lender once your complete income is considered.

Australian Government 5% Deposit Scheme

Eligible first home buyers may purchase with a minimum 5% deposit, while eligible single parents or legal guardians may purchase with as little as 2%.

The government guarantees part of the loan, removing the need for LMI. There are no income caps or waiting lists, although property price caps, owner-occupier requirements and lender approval criteria still apply.

Australian Government Help to Buy Scheme

Eligible buyers may purchase with a minimum 2% deposit, with the Australian Government contributing up to 30% of an existing home’s price or 40% of a new home’s price.

This reduces the amount you need to borrow and removes the need for LMI. It is a shared-equity arrangement, so income limits, property caps, availability and ongoing obligations apply.

First Home Super Saver Scheme

Eligible first home buyers can use voluntary super contributions to help build their deposit.

Up to $50,000 of eligible contributions, plus associated earnings, may be released. Couples, siblings or friends buying together can each use their own eligible savings.

State and Territory Grants and Stamp Duty Concessions

First Home Owner Grants, transfer duty exemptions and reduced duty rates are administered by individual states and territories.

The assistance available depends on where you buy, the property’s value and whether it is new, established or vacant land. We include any potential entitlement when calculating the cash you may need to complete your purchase.

We’ll compare professional lending concessions and government pathways side by side, so you can see what you qualify for, what can be combined and which option makes sense beyond the deposit.