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Home Loans For Doctors & Medical Professionals
As a doctor or surgeon, you may qualify for home loan benefits that aren’t available to standard borrowers. Newbridge can help you identify lenders that recognise medical professionals as lower-risk borrowers and offer preferential lending policies.
- Borrow up to 95% of the property value with no LMI with eligible lenders
- Potentially save tens of thousands in Lenders Mortgage Insurance
- Access competitive doctor-specific interest rates
- More favourable assessment of overtime and on-call income
- Lenders that understand locum and private practice income
- Potentially higher borrowing capacity
- Options for owner-occupied and investment properties
- Solutions for GPs, specialists, surgeons, registrars and other eligible doctors
Find Out What Doctor Home Loan Benefits You Qualify For
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Home Loans For Doctors & Medical Professionals
As a doctor or surgeon, you may qualify for home loan benefits that aren’t available to standard borrowers. Newbridge can help you identify lenders that recognise medical professionals as lower-risk borrowers and offer preferential lending policies.
- Borrow up to 95% of the property value with no LMI with eligible lenders
- Potentially save tens of thousands in Lenders Mortgage Insurance
- Access competitive doctor-specific interest rates
- More favourable assessment of overtime and on-call income
- Lenders that understand locum and private practice income
- Potentially higher borrowing capacity
- Options for owner-occupied and investment properties
- Solutions for GPs, specialists, surgeons, registrars and other eligible doctors
Why Do Doctors Get Special Home Loan Benefits?
Doctors are attractive borrowers to banks because the profession generally combines strong earning potential, career stability and long-term employment prospects. Because lenders consider eligible medical professionals lower risk than many other borrowers, some offer lending policies specifically for doctors.
These can include:
- LMI waived at higher LVRs
- Lower deposit requirements
- Discounted interest rates
- More flexible income assessment
- Higher borrowing limits
The important part is knowing which lender offers the strongest policy for your particular medical profession and income structure.
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Borrow Up To 95% With No LMI
Normally, borrowers purchasing with less than a 20% deposit may need to pay Lenders Mortgage Insurance.
Eligible doctors and surgeons can potentially borrow up to 95% of a property’s value without paying LMI with selected lenders.
That means you may be able to purchase with a much smaller deposit while avoiding what can be a significant additional cost.
For doctors purchasing higher-value properties, the LMI saving can potentially run into tens of thousands of dollars.
Eligibility and maximum LVR vary between lenders.
Home Loans for Doctors & Medical Professionals
Your Medical Income May Be Worth More To The Right Lender
A doctor’s income isn’t always as simple as a standard salary.
Your earnings might include:
- Base salary
- Overtime
- On-call allowances
- Shift penalties
- Locum income
- Private practice income
- Medicare billings
- Company or trust distributions
Different lenders can treat these income sources very differently.
One bank might discount or exclude part of your income, while another may take a much more favourable view.
Choosing the right lender can therefore have a significant impact on your assessed borrowing capacity.
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Why Choose Us?
Why Choose Us?
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One of the highest rated brokers in Australia with over 400+ verified Google reviews.
Over 60 Lenders
Most brokers only choose between 30 lenders or less. We have more options which means a better deal for you.
We Do All The Hard Work
We do all the groundwork, offering excellent advice and outstanding customer service.
Get The Best Deal For You
We find the best home loan suited to you, explain the features, fees, and details associated with your loan.
Over $1B In Loans Settled
Having been MFAA Accredited brokers for over 20 years, we've seen it all.
Frequent Communication
We communicate with your chosen lender throughout the process and keep you up to date along the way.
Get A Lower Rate
Experts in home loan refinancing with impressive customer ratings, we ensure your home loan experience is as stress-free as possible.
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Who May Qualify For Doctor Home Loan Benefits?
Eligibility differs between lenders, but specialised medical lending policies may be available to:
- General Practitioners
- Surgeons
- Medical Specialists
- Anaesthetists
- Psychiatrists
- Hospital Doctors
- Registrars
- Residents
- Intern Doctors with selected lenders
- Other eligible AHPRA-registered medical practitioners
Your exact benefits will depend on your profession, registration, income, property and lender.
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Buying With A Smaller Deposit?
Instead of putting a 20% deposit into a property simply to avoid LMI, eligible doctors may be able to borrow at a higher LVR without paying LMI.
That may allow you to keep more cash available for:
• Stamp duty and purchasing costs
• An offset account
• Renovations
• Future investments
• Practice expenses
• Emergency savings
Whether this strategy is appropriate will depend on your financial circumstances and objectives.
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Home Loans For Doctors & Medical Professionals FAQs
Yes, some lenders offer LMI waivers for eligible doctors at up to 95% LVR.
The maximum LVR and eligibility criteria depend on the lender, medical profession and individual application.
Lenders generally view doctors as attractive borrowers because of their strong earning potential, career stability and relatively low lending risk.
Selected lenders therefore offer LMI waivers specifically to eligible medical professionals.
Yes. Surgeons and many other medical specialists are commonly included in medical professional lending policies.
Yes. General Practitioners are commonly eligible for specialised doctor home loan policies.
Yes, although the benefits available to registrars can vary considerably between lenders.
Potentially. Some lenders extend medical professional benefits to interns and residents, while others have additional eligibility requirements.
Potentially.
Some lenders are more willing than others to include overtime, allowances and additional medical income when calculating borrowing capacity.
Locum income can be accepted by many lenders, but the way it’s assessed varies significantly.
Some lenders require a longer income history than others, making lender selection particularly important for locum doctors.
Yes, subject to lender requirements.
If you operate through a company, trust or other business structure, lenders may require additional documentation to verify your income.
Some lenders provide preferential pricing to eligible medical professionals.
We’ll compare the available rates as well as the lender’s LMI, LVR and income-assessment policies.
Potentially, yes.
Many lenders extend medical professional policies to investment property lending as well as owner-occupied homes.