Home loans for doctors and professionals
Some lenders drop lenders mortgage insurance for certain professions. The lists differ from lender to lender.
What an LMI waiver is
Borrow more than 80% of a property’s value and the lender normally charges lenders mortgage insurance. It protects the lender, not you, and on a large loan it can run well into five figures. Lenders see some professions as lower risk and waive the charge for them. How LMI works.
Who usually qualifies
- Doctors, dentists and specialists. Several lenders go to 95%, including hospital doctors in training.
- Other health professionals. Pharmacists, vets, optometrists, physiotherapists and others, commonly to 90%. See nurses and midwives.
- Lawyers. Solicitors and barristers with a current practising certificate. See lawyers.
- Accountants and finance professionals. Members of the main accounting bodies. See accountants.
- Teachers and essential workers. A smaller group of lenders. See teachers and essential workers.
The fine print
Qualifying on profession is only the first test. Lenders also set:
- Minimum income levels, which range from none to six figures
- Limits on regional postcodes, which matters in Tasmania
- Whether investment, interest only or construction loans are covered
- Caps on the loan size and on your total debt relative to income
- How much of the property and the income must belong to the professional
How we use it
We check your profession, registration and income against each lender’s current list, then compare the waiver lenders against the rest of the panel. A waiver saves the insurance premium, but the lender offering it does not always have the best rate.
Lender policies change through the year and each lender keeps its own list of professions, income floors and locations. Use this page to decide whether it is worth asking, then let us check the current rules for you. All lending is subject to the lender’s credit criteria.
Questions people ask
Is an LMI waiver the same as the 5% Deposit Scheme?
No. The scheme is a government guarantee for eligible first home buyers. A professional waiver comes from the lender and is open to non-first home buyers too.
Does my partner need to be in the profession?
Usually not, but some lenders want the professional to own at least half of the property or earn most of the income.
General information, last updated November 2026. Scheme figures, lender policies and duty rates change, so confirm them before you rely on them.
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