Mortgage Brokers for Doctors
As a qualified medical professional, you may be able to purchase a property with as little as a 5% deposit and pay zero Lenders Mortgage Insurance (LMI). On a $1 million property at 90% LVR, that LMI saving alone can be worth $30,000 to $40,000.
At Woodrow Finance, our medical mortgage broker team in Brisbane works exclusively with healthcare professionals to access these benefits and structure home loans that reflect the realities of medical income, which looks nothing like a standard PAYG salary in the eyes of most lenders.
We compare across 50+ lenders to get you the best rates
What Is LMI and Why Does This Matter So Much?
Lenders Mortgage Insurance (LMI) is an insurance policy that protects the lender when you borrow more than 80% of a property’s value. For most borrowers, it’s a high upfront cost that must be paid at settlement or added to the loan balance.
On a $1 million purchase at 90% LVR (Loan-to-Value Ratio, the ratio of your loan to the property’s value), LMI can cost anywhere from $30,000 to $40,000, depending on the lender and the loan size. On a $1.5 million purchase, that figure climbs higher still.
For eligible medical professionals, participating lenders will waive this cost entirely. You can borrow up to 90%, 95%, or even higher (role and lender dependent), and pay no LMI, a benefit that gives you a head start that most buyers don’t have access to.
Lenders Mortgage Insurance (LMI) is an insurance policy that protects the lender when you borrow more than 80% of a property’s value. For most borrowers, it’s a high upfront cost that must be paid at settlement or added to the loan balance.
On a $1 million purchase at 90% LVR (Loan-to-Value Ratio, the ratio of your loan to the property’s value), LMI can cost anywhere from $30,000 to $40,000, depending on the lender and the loan size. On a $1.5 million purchase, that figure climbs higher still.
For eligible medical professionals, participating lenders will waive this cost entirely. You can borrow up to 90%, 95%, or even higher (role and lender dependent), and pay no LMI, a benefit that gives you a head start that most buyers don’t have access to.
Who Qualifies for a Medical Professional Home Loan?
The list of eligible professions is broader than most people assume. Here are the healthcare roles that commonly qualify for LMI waivers and specialist lending benefits through our home loan for medical professionals service.
Medical Practitioners
- General Practitioners (GPs)
- Specialists (cardiologists, oncologists, orthopaedic surgeons, etc.)
- Surgeons
- Anaesthetists
- Dentists and Oral and Maxillofacial Surgeons
- Optometrists
Allied Health and Other Registered Professionals
- Veterinarians
- Pharmacists
- Physiotherapists
- Psychologists and Psychiatrists
- Nurses and Midwives
Important: In most cases, AHPRA (Australian Health Practitioner Regulation Agency) registration is a baseline requirement. Lender policies on which professions qualify and at what loan size vary considerably, which is why working with a specialist mortgage broker for doctors matters. We know which lenders will work for your specific role and situation.
Registrars and interns often ask whether they qualify for a home loan for doctors, and the answer is that it depends on the lender. Some participating lenders do extend benefits to registrars and junior doctors based on their projected future income. Our team will work through the specifics with you.
The Benefits of Home Loans for Doctors
Working with our medical mortgage brokers offers a range of advantages not available through a standard loan application.
LMI Waiver
Eligible medical professionals can access LMI waivers at LVRs up to 90%, 95%, or in some cases, higher, depending on the lender and the role. This translates to tens of thousands of dollars in savings on a typical purchase.
Higher Loan Limits
Standard lending policies cap loan amounts based on income multiples and risk thresholds. Medical professional lending programs recognise the earning trajectory of healthcare careers, with some lenders offering loan ceilings of $4.5 million to $5 million for eligible borrowers (role and lender dependent).
Flexible Income Assessment
Medical income is often complex. Many healthcare professionals combine a base salary with on-call allowances, sessional payments, practice drawings, locum work, or investment income. Standard lenders sometimes struggle to assess this accurately, and the result can be a lower borrowing capacity than you actually deserve.
Our mortgages for doctors work because we partner with lenders who understand medical income structures and apply flexible assessment criteria. We ensure your full income picture is presented in the most accurate and favourable way.
Rate Discounts
Many specialist medical lending programs also include discounted interest rates off the standard variable rate. The exact discount varies by lender and loan size; we’ll identify the best available rates for your situation across our 50+ lender panel.
Scenarios We Assist With
Our mortgage brokers for doctors work across a range of property and finance situations.
Buying Your First Home
For doctors and medical professionals earlier in their careers, the LMI waiver can be transformative. A large deposit is a serious barrier to entry in Brisbane's property market. Being able to purchase with 5-10% and no LMI changes the equation entirely. Our broker for first home buyers can help you understand Queensland grants and federal schemes.
Upgrading to Your Next Property
Career progression often brings income growth, but it also creates complex financial situations. When you’re applying for a home loan for medical professionals, our team works through all of this to find the right upgrade path.
Investment Property
Medical professionals are often high-income earners with the capacity to invest beyond their primary residence. We work closely with clients on investment home loans in Brisbane to build property portfolios alongside a busy career. LMI waivers may also apply to investment purchases, depending on the lender.
Refinancing
If you purchased your property before you knew about home loan benefits for doctors, or if your career has progressed since your last loan review, it may be worth exploring a refinance home loan in Brisbane to access better rates and terms.
Practice Purchase and Fit-Out
Commercial and business property finance for medical practice owners is a specialised area. Speak to our team about how we approach practice finance alongside personal property lending.
How Medical Income Assessment Works
One of the most common questions we get from medical professionals is: "Will the lender understand how my income is structured?"
The honest answer is that some will, and some won't. That's exactly why having a specialist medical mortgage broker matters.
Here's what lenders typically want to see when assessing mortgages for doctors:
- Employed doctors (salary + allowances): Payslips, employment contract, group certificates or tax returns. On-call and sessional components are often included at the lender's discretion.
- Practice owners / self-employed medical professionals: This is more complex. Most lenders want two years of tax returns and business financials. Some specialist lenders can work with less, particularly for established practitioners. Our low doc home loan broker expertise covers self-employed medical professionals, too.
- Locum doctors: Income variability is assessed differently across lenders. We work with lenders who take a pragmatic approach to locum income.
Beyond Your Home Loan: Our Full Suite of Services
Our team doesn't just cover home loans. We support Brisbane's medical community across construction finance Brisbane for doctors building new homes, SMSF commercial property loans, car and asset finance for personal and business use, and the full range of services you'd expect from a leading mortgage broker in Brisbane.
Speak to a Medical Home Loan Specialist Today
Book a consultation with our brokers to discuss home loans for doctors. We'll work through your income structure, your property goals, and the lenders who are best placed to support your situation.
Call (07) 2111 1294 or submit your details below to get started.
LMI waivers and medical professional lending benefits are subject to individual lender policy and borrower eligibility. Loan limits and eligible professions vary by lender. This content is general in nature and does not constitute financial advice. Eligibility must be confirmed with your Woodrow Finance broker.
Our Team
Get to know the qualified brokers and finance specialists behind Woodrow Finance. We help everyday Australians understand their lending options and feel confident about the home loan and finance journey.
Daniel
Founder & Mortgage Broker
Founder of Woodrow Finance, delivering tailored advice with transparency and fast, personalised service.
Baxter
Mortgage Broker
Seven-plus years' experience, specialising in self-employed and investment lending plus first-home and construction loans.
Nathaniel
Finance Specialist
Qualified Finance Specialist helping first-home buyers, investors and refinancers find tailored finance solutions.
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FAQs
Which lenders offer LMI waivers for medical professionals?
Several major and non-bank lenders participate in medical professional programs, but the eligibility criteria, LVR thresholds, and loan limits vary by lender and role. We compare across our full lender panel to identify the right match for you.
Do registrars or interns qualify for LMI waivers?
Some lenders extend eligibility to registrars and junior doctors based on career trajectory. This varies significantly by lender, so it’s worth checking your specific situation with our mortgage brokers for doctors.
What income documentation do I need?
This depends on whether you’re employed or self-employed. Employed doctors typically provide payslips and an employment contract. Practice owners and self-employed practitioners generally need 2 years of financial statements and tax returns, though specialist options are available.
Can I use a doctor's home loan for an investment property?
Yes, in some cases. Some lenders extend LMI waivers and other benefits to investment purchases. This is lender-specific and worth discussing with our team.
Does the LMI waiver stack with the First Home Guarantee?
The First Home Guarantee is a federal scheme with its own eligibility criteria and participating lender list. It operates separately from medical professional LMI waiver programs.