Doctors are one of the most sought-after borrower groups in Australia. Lenders view medical professionals as stable, high-income and low-risk, and they reward that with benefits other borrowers can’t access. The standout is lenders mortgage insurance (LMI) waived at loan-to-value ratios where everyone else pays thousands for it, often saving tens of thousands of dollars on a single purchase.
The catch is that these benefits sit with specific lenders and their medico programs, not every bank, and the eligibility rules and LVR caps differ between them. Getting the strongest outcome comes down to which lender you apply through and how your income is presented, which matters most if you’re a contractor, run a private practice, or are still working through your training years.
At Loanworx, we arrange home loans for doctors across every income type, from salaried hospital roles to private billings and ABN contracting. As an experienced finance broker, we work for you rather than for any single lender, matching you to the medico program that fits your role and presenting your income in its strongest form.
Buying, building or refinancing as a doctor? Call us on 1300 562 696 or get in touch and we’ll be back to you shortly.
Medical professionals can access a defined set of lending benefits that standard borrowers can’t. Here are the three that matter most.
Many lenders waive LMI for eligible doctors up to 90% of the property value, and select lenders go to 95% with no LMI at all. On a typical purchase that can save tens of thousands of dollars, or let you buy sooner with a smaller deposit.
The benefits extend across general practitioners, hospital doctors, registrars, specialists and surgeons, and across PAYG, contractor and private-practice income. Different lenders define eligible occupations differently, so the right lender depends on your exact role.
Beyond the LMI saving, many medico programs include sharper pricing and waived application or package fees. The size of the benefit varies by lender and deal, but it’s negotiable in a way it isn’t for standard borrowers.
The hardest part of a doctor’s home loan usually isn’t qualifying, it’s making sure you actually get the benefits you’re entitled to. The waivers and discounts aren’t advertised on every bank’s website, and a branch may not even mention them.
We identify which lenders offer the strongest medico terms for your specific role and income, then present your application so the waiver applies cleanly. Whether you’re a salaried registrar or a specialist with private billings, the aim is the best terms available to your profession, not just the first bank’s standard offer.
Doctors aren’t the only professionals who can access better lending terms. Whether you’re in another field or pointing a colleague our way, explore the other groups we help below.
Home loan benefits and waivers available to registered nurses and midwives, including shift income.
Tailored home loans and LMI waivers for pharmacists and community pharmacy owners.
Professional home loan benefits and LMI waivers for qualified and chartered engineers.
LMI waivers and professional packages for solicitors, barristers and legal professionals.
Medico-tier home loans and LMI waivers for dentists, specialists and practice owners.
Full-doc and low-doc home loans for business owners and the self-employed.
Home loans with alternative income verification when standard payslips don’t fit.
Home loan options and waivers available to teachers and education staff.
Borrow up to 90% or more without lenders mortgage insurance, if you qualify.
Home loans structured for contract and day-rate IT professionals.
First home grants, schemes and concessions, explained and matched to you.
A medico home loan is assessed on the usual factors, with a few specific to the profession. These are the ones that shape your eligibility and terms.
Lenders confirm your occupation against their list of eligible medical professions and usually check your registration. The exact list of qualifying roles differs between lenders, which is why the right lender depends on whether you’re a GP, a specialist, a registrar or a surgeon.
We match your specific role to the lenders whose medico policy covers it.
Salaried hospital income is straightforward. Private-practice billings, ABN contracting and mixed income need to be presented correctly, because lenders treat each differently.
Getting the income presentation right is often what unlocks the full waiver rather than a watered-down version.
The medico LMI waiver lets you borrow at a higher LVR without the insurance cost, commonly up to 90% and sometimes 95% with no LMI. Your deposit determines where you sit against that cap.
We work out the deposit that gives you the best combination of waiver and pricing.
Lenders assess your capacity at a buffer rate, after your living expenses and existing commitments. Student or HECS-HELP debt, car loans and credit cards all reduce borrowing power.
We model your capacity across lenders so you target the one that lends what you actually need.
The property is the lender’s security, so its type, location and condition feed into the decision, and some apply tighter limits to small apartments, rural properties and unusual builds even for medico applicants. Standard houses and apartments in established areas attract the strongest terms. We flag any property that may limit the waiver or the lender panel before you commit.
Professional and specialist lending isn’t about the headline rate alone. It’s about being matched to a lender that recognises your situation, presenting your income correctly, and having someone manage the process. Here’s what working with us looks like.
We compare home loans across a broad panel of banks, second-tier lenders and non-bank funders, so you see a genuine spread of options rather than one lender’s offering. We match you to the lender most likely to approve at a competitive rate, which often isn’t the bank you already use.
You deal with experienced brokers who understand the medico programs across the market, the occupations each lender recognises, and how to present hospital, private-practice and contractor income. We shape the application before it’s lodged.
The biggest value we add is matching your exact role and income to the lender offering the best LMI waiver and pricing, then presenting it so the benefit applies in full rather than partially.
For most home loans, Loanworx is paid an upfront and trail commission by the lender after settlement, and that commission typically does not change the rate or fees you pay. Where a fee for service applies to a more complex scenario, we disclose it in writing before any work begins. No surprises.
Most eligible medical professionals can access an LMI waiver with at least some lenders, but the qualifying occupations and the maximum LVR differ between them. General practitioners, hospital doctors, specialists and surgeons are widely covered; some roles and some income types are recognised by a narrower set of lenders. We confirm which lenders will waive LMI for your specific role before you apply.
As an industry guide, many lenders waive LMI for eligible doctors up to 90% of the property value, and select lenders go to 95% with no LMI. That means a deposit as low as 5% to 10% without the insurance cost, which can save tens of thousands of dollars. The exact cap depends on the lender, your role and the property, and we’ll confirm the strongest available to you.
It varies by lender. Commonly recognised roles include general practitioners, hospital doctors, registrars, anaesthetists, surgeons and other specialists, and many lenders also extend medico-style benefits to dentists. Because each lender keeps its own list, the right lender depends on your exact occupation. We match your role to the lenders whose policy covers it.
Yes, though it needs to be presented correctly. Private-practice billings and ABN contractor income are well catered for, but lenders assess them differently from salaried income, and some are more comfortable with them than others. We present your income in its strongest form and match you to a lender comfortable with how you earn.
Often, yes. Many medico programs are designed with doctors early in their careers in mind, recognising that income rises over time. Registrars and recently qualified doctors can frequently access waivers, sometimes with a particular lender that caters to them. We’ll tell you quickly what’s achievable on your current income.
Frequently. Beyond the LMI waiver, many medico programs include sharper pricing and waived package or application fees. The size of the discount varies by lender and deal and isn’t guaranteed, but professional pricing is negotiable in this space in a way it isn’t for standard borrowers. We compare the full package, not just the rate.
No. The medico benefits sit across a range of lenders, not one, and you don’t need an existing relationship to access them. That’s the advantage of going through a broker: we compare the medico programs across the market and match you to the best fit, rather than you being limited to whatever your current bank offers.
Whether you’re buying your first home, upgrading, or refinancing, we’ll match you to the medico program that fits your role and present your application for the strongest waiver and pricing available.
Level 15/412 St Kilda Rd
Melbourne VIC 3004
Loanworx Group Pty Ltd as trustee for Loanworx Group Trust and brokers representing it, are credit Representatives of Loanworx Group Licencing Pty Ltd (Australian Credit Licence number 495267). Please note, we adopt best practice regarding Australia’s privacy legislation. Your contact information will be collected by us and by our aggregator, and its subsidiaries and related businesses. We use this information to stay in contact and provide our services to you, and we may also use your information to offer or provide you with additional products or services or ask for your feedback. We may not be able to assist you if we do not have your current contact information. We may need to disclose your information to our associates, contractors, and service providers, who may be overseas. Our Privacy Policy available at www.loanworx.com.au contains information about how you can access your personal information and request corrections or complain if you are dissatisfied with how we have dealt with your personal information.
Copyright © Loanworx | Privacy Policy
