Home Loans for Doctors
- We negotiate a special ‘Doctors Only’ rate for you, backed by a 99.6% approval rate.
- Borrow up to 100% of your home loan value and pay nothing in LMI.
- We cover your annual mortgage home loan fees. You won't find better!
- Get exclusive Cash Back offers on the best deals in the market.
Enquire About Special Home Loans Offers For Doctors
Award Winning Mortgage Brokers
Save $80,000 On Average With Our Home Loans For Doctors
We help doctors access Special Home Loan Discounts below the advertised Interest Rate
Best Interest Rates Deals
We negotiate a special ‘Doctors Only‘ rate for you, backed by a 98% approval rate. We negotiate the best deal for you, with discounts below the bank’s advertised rate.
Pay No LMI Fees
Borrow up to 100% of your home loan value and pay nothing in LMI. We save doctors an average of $50,000 in LMI costs based on a 95% LVR home loan with a $1,000,000 purchase price.
We Cover Your Annual Loan Fees
We’re so confident with our doctor mortgage deals that we pay your annual loan fees! This applies for all home loans above $500k, saving you an additional average of $11,850 over the lifetime of your loan!
Exclusive Cash Back Offers
Speak to one of our senior brokers now and get the best cash backs offered by Australia’s leading banks. Get up to $4,000 in cash back and save! Our brokers will find you the best deals in the market.
Best Home Loans For Doctors Without Paying LMI.
Here's everything you need to know!
What medical professionals can avoid paying lenders mortgage insurance?
Doctors and allied health medical professionals are eligible for exclusive home loan deals. For more of a comprehensive breakdown, the following medical professionals may be eligible for a ‘doctors-only’ home loan:
| Anaesthetists | Intern Doctors & GPs | Medical resident | Orthodontists | Rheumatologists |
| Cardiologists | Epidemiologists | Medical registrar | Paediatricians | Surgeons |
| Cosmetic surgeons | Endocrinologists | Neurologists | Pathologists | Urologists |
| Dentists | Gastroenterologists | Obstetricians | Pharmacists | |
| Dental surgeons | Gynaecologists | Oncologists | Plastic Surgeons | |
| Dermatologists | Immunologists | Ophthalmologists | Radiologists |
If your medical occupation is not listed above and you believe you may be eligible, simply call us and speak with our senior mortgage broker. We will provide you with prompt feedback and advise you of your eligibility.
What types of doctors are not eligible for lenders mortgage insurance waivers?
Exclusive home loans are unavailable for medical practitioners such as naturopaths or disqualified AHPRA doctors. However, two banks also accept intern doctors with whom we regularly work. Every case and lender is different. Your senior mortgage broker can clarify your eligibility and immediately give you an answer.
Why do doctors get cheaper home loans?
All financial lenders consider medical professionals, especially doctors, low risk. Special home loans were naturally conceived from this idea; each lender or bank wishes to attract as many doctors as possible and have you bank with them. To summarise, the four main reasons why doctors receive favoured treatment include:
- Doctors have a statistical track record of paying their home loans on time.
- Doctors are regarded as low-risk borrowers earning a high income.
- Becoming a qualified doctor is a career-long commitment, signalling a reduction of risk compared to other occupations.
- Doctors possess one of the most sought-after skills, meaning their financial stability is unlikely to be interrupted by external factors.
What home loan discounts do doctors receive?
Depending on your financial situation, eligible medical practitioners can either receive no lenders mortgage insurance, borrow up to 100% LVR or, in some special instances, even receive both.
The type of home loan discounts varies from lender to lender and is sometimes dependent on external market conditions. We encourage all medical professionals to speak directly with us, at any given time to discuss present-day discounts and exclusive deals.
What are the criteria for waived LMI & special discounts for doctors?
- You will need to be currently employed as a doctor or a qualified medical professional
- Unlike other professions that also receive LMI waivers, there are no minimum income requirements.
- Current AHPRA registration
Our Lenders
We Make Home Loans Easy For Doctors
Make An Enquiry
Enquire between 8am to 8pm, Monday to Sunday and we call you back within 5 minutes. Our brokers work around the clock to help you!
Speak With A Broker
We assess your situation, negotiate rates, screen lenders and present you with your best options. We are with you every step of the way!
Loan Approved
You pick the best option that suits you and we get your home loan formally approved! We make the whole home loan process easy!
We Get Tough Home Loans Approved for Doctors
At Mortgage Pros, we’re the professionals who doctors call to get the best home loan deals in the market. We have developed a winning formula for helping doctors all across Australia secure the best home loan deals.
Our senior brokers will return with your best home loan options in less than 24 hours. No matter your unique financial requirements, our mortgage specialists have a solution for you.
Everything is risk-free, meaning you don’t have to pay us for our services. We work and negotiate on your behalf and are paid directly by the banks to create a win-win situation. Save time and money by speaking to us about our exclusive doctor home loans today.
Why More Aussie Doctors Are Choosing Mortgage Pros
- We’ve worked in the banks as the people approving and declining loans so know how to get your loan approved.
- Leverage our premium broker status and get faster turnaround times & cheaper interest rates.
- We have access to special divisions of the major banks that are not available to the general public. We connect you with the right lender.
- We hold your hand the entire way. We’ll keep you updated and walk you through the whole process.
- Trained some of the most knowledgeable mortgage professionals who serve the medical industry.
- Multi award winning mortgage brokerage with all brokers amongst the top 100 mortgage brokers in Australia.
We Save Doctors Money. Here's The Breakdown.
See how much you could be saving from LMI fees.
| Property Value | Loan Amount | LVR | Estimated cost of LMI | LMI as percentage of the property value |
| $500,000.00 | $475,000.00 | 95% | $14,773.00 | 2.95% |
| $750,000.00 | $712,500.00 | 95% | $30,638.00 | 4.09% |
| $1,000,000.00 | $950,000.00 | 95% | $40,850.00 | 4.09% |
| $1,250,000.00 | $1,187,500.00 | 95% | $58,425.00 | 4.67% |
| $1,500,000.00 | $1,425,000.00 | 95% | $70,110.00 | 4.67% |
| $1,750,000.00 | $1,662,500.00 | 95% | $84,455.00 | 4.83% |
| $2,000,000.00 | $1,900,000.00 | 95% | $96,520.00 | 4.83% |
| $2,250,000.00 | $2,137,500.00 | 95% | $119,486.00 | 5.31% |
| $2,500,000.00 | $2,375,000.00 | 95% | $132,763.00 | 5.31% |
| $3,000,000.00 | $2,850,000.00 | 95% | $159,315.00 | 5.31% |
| $3,500,000.00 | $3,325,000.00 | 95% | $185,868.00 | 5.31% |
| $4,000,000.00 | $3,800,000.00 | 95% | $212,420.00 | 5.31% |
| $4,500,000.00 | $4,275,000.00 | 95% | $238,973.00 | 5.31% |
| $5,000,000.00 | $4,750,000.00 | 95% | $265,525.00 | 5.31% |
- Scroll to view more
Our Team of Mortgage Specialists.
Access discounted interest rates by speaking with our mortgage specialists.
Real Case Studies
Dr David’s Home Loan Case Study
95%LVR waived LMI for doctors
Profile: David is a second-year medical resident doctor based in South West Sydney and earns $140,000 per annum, including overtime.
Objective: He wants to buy his first home, an apartment, for $700,000 so he can be closer to work & stop paying $500 per week in rent.
Problem: While speaking to family, David discovers to his dismay, that his $50,000 in savings is not enough. He will either need to save another $90,000 to make up a 20% deposit, dole out several thousands for LMI or ask his parents to act as guarantors for his home loan to be approved.
Solution: After discussing his situation with a colleague, David is referred to his colleague’s mortgage broker, Mortgage Pros, who specialise in home loans for doctors. There he discovers that a few lenders offer home loans for doctors!
He can borrow over 90 per cent of the property value without paying lenders mortgage insurance and even receives a larger interest rate discount. After crunching the numbers, David is told if he borrows $665,000, 95 per cent of the purchase price, he will save about $25,000 in LMI costs!
Like David, you can save thousands on your home loan with an LMI waiver. You can always contact one of our mortgage brokers specialising in home loans for doctors by calling us on 1300 030 388 or enquiring online.
Dr Jen’s Property Portfolio Case Study
Savings thousands by refinancing
Profile: Jen is a psychiatrist based in the inner west of Sydney. She works for herself and earns $400,000 per year. She has been very successful with property and amassed a portfolio of 7 properties across Australia, roughly half paid off.
Objective: With interest rates rising, Jen has seen her rates go from 2.24% to 5.57% in about a year. She hopes to ensure she is on the lowest rate possible and not paying more than she needs to.
Problem: Jen calls her existing bank and requests them to give her a better interest rate on her home loan. She wants the rates which are advertised on their website. They regret to inform her that they cannot assist as the rates on their website are limited to new bank customers & she is already on the best they can offer.
Solution: After discussing her situation with a work colleague, Jen is referred to her colleague’s mortgage broker, Mortgage Pros, who specialise in home loans for doctors. They thoroughly analyse her situation & the market to find her the best deal. Jen refinanced all her loans and was able to achieve the following:
- Lower the interest rates on her loans by 0.50%. Saving her approx. $21,000 per year in interest.
- Take advantage of cashback the bank was offering. She was able to obtain a $4,000 cashback per property. Hence as she had 7 properties the bank paid her $28,000 to move her business over.
- Re-extend her interest-only periods back to 5 years on her investment loans
Dr Tom’s Home Loan Case Study
How to increase your borrowing capacity
Profile: Tom is a psychiatry registrar based in South Sydney and earns $180,000 per annum including overtime. He is married and has two children. His wife works in graphic design & earns $80,000 per annum. They own a two-bedroom apartment which they live in that is about half paid off.
Objective: Tom & his wife need more space for the kids. They are looking to move into a house with a backyard and are seeking to spend $1,200,000.
Problem: Tom speaks to his existing bank about getting preapproval, and they tell him, to his shock their maximum borrowing capacity for new lending is $800,000. Tom & his wife are not able to save or ask the family for $400,000. In addition, with a budget of $800,000 they are limited to just buying another apartment.
Solution: After researching online, Tom stumbles upon the Mortgage Pros website and sees they specialise in home loans for doctors. He called through and, in under a week, was preapproved to purchase a property for 1.2 mil and only needed to make a few simple changes.
- Cancelling all credit cards. Combined, Tom & his wife had three credit cards with a total limit of $20,000. Even though credit cards were seldom used, due to regulations, banks must factor them in as if they were at their limits. This reduced their total borrowing power by approx—$140,000.
- Selecting the right bank that will maximise his borrowing capacity. By reverse engineering the methods each of the banks work out their borrowing capacity, we can identify crucial differences in their methods of calculation. By evaluating these differences, we determine which ones may apply to Tom’s situation and then simulate the impact. For his case, we identified the following had the biggest impact on his borrowing capacity:
- Using 100% of Tom’s overtime for the most recent three-month period. Most banks only use 80% of overtime; however, even amongst the ones that use 100%, the calculation method varies differently, causing drastic differences in results. For Tom, due to recent pay rises, his overtime income was highest in the last three months which we were able to capitalise on.
- Using his salary sacrifice as an untaxed income. Like most PAYG doctors working for a hospital, a portion of Tom’s income went towards salary sacrifice, which would be reimbursed untaxed. Different banks have varying policies on salary sacrifice, with some deducting it from your income to other adding it back as untaxed.
- Using the smallest assessment rate buffer on Tom’s existing home loan fixed at 2.19%.
Frequently Asked Questions
Find out how our mortgage specialists can get you the best home loan!
Our mortgage brokers work around the clock to ensure you receive the highest customer service possible while providing maximum value to help you get the best possible deal on the market.
Here are just some of the benefits of choosing to work with us:
Waived lenders mortgage insurance
Lenders mortgage insurance (LMI) applies to all home loans when the home buyer or property investor takes out a loan 80% or more of the property value.
For example, a home buyer seeking to purchase a property valued at $2,000,000 with a $200,000 deposit would be required to pay LMI. In this instance, they would only have 10% as a deposit and would be required to borrow 90% of the remaining loan from the lender. The lender will then apply LMI to cover the risk.
Lenders perceive doctors as ‘low-risk’ occupations compared to many other borrowers. As a result, doctors are granted special deals that potentially include a full LMI waiver that enables them to borrow up to 95% of the property value.
However, some conditions apply. To be eligible for an LMI waiver for doctors, you need to be AHPRA registered and working as a certified doctor. Your AHPRA registration must be general or specialist as a ‘Registration Type’. If your registration type is limited or provisional, you can still be eligible.
We encourage all Australian doctors to contact us and speak with one of our senior mortgage brokers. Our brokers will be able to accurately provide you with detailed insights into how you can save on lenders’ mortgage insurance as an eligible medical professional.
Get the best home loan rates & save time
Most, if not all, doctors are extremely busy individuals and can not spend hours upon hours speaking with multiple lenders. The process is extremely time-intensive and not a luxury many Australian doctors can potentially justify.
This is where a highly experienced mortgage broker can help.
At Mortgage Pros, we have access to over 40 lenders in the Australian market. Our mortgage brokers have forged strong relationships with the best, most reputable lenders, helping secure exclusive home loan rates for doctors across Australia.
Whether you’re a doctor from Sydney, Canberra, Melbourne, Brisbane, Gold Coast, Perth, Darwin, Adelaide or Hobart, we specialise in helping you find the right home loan discounts that suit your needs.
Exclusive discounts available only for doctors
As a specialist mortgage broker, we offer exclusive home loan discounts available only to eligible doctors. We respect the many hard-working Australian nationwide and do our part to make securing your home loan easier, saving you thousands.
At Mortgage Pros, we help you pay down your home loan faster. For every doctor home loan you write through us, we pay you $395 for every year you keep your home loan with us. For home loans valued over $500,000 over 30 years, this can save you an average of $11,850!
Additionally, your mortgage broker can present you with all available cashback offers from Australian banks. Our goal is simple: to ensure you receive the best possible deal in the market.
Tailored financial solutions
We understand that every doctor has a unique financial position. Our mortgage brokers are perfectly equipped to assess your situation and provide a range of suitable deals that offer the most value.
Our senior mortgage brokers negotiate on your behalf. We save you time and money from speaking with multiple lenders and potentially receiving differing feedback. This can cause many problems and further drag out your home loan process.
Trust our mortgage professionals to collate the best deals that suit your financial situation and close the deal quickly. We’re mortgage professionals working for other professionals.
Yes, with a few select banks! The loan will be split into two:
Split 1: Standard 95% home loan without having to pay lenders’ mortgage insurance.
Split 2: An exertion loan for the remaining 5% & costs (stamp duty, bank fees & legal costs).
- Maximum of the loan amount: $500,000
- Interest rate: 10% to 15% pa
- Loan term: 5 to 10 years
To be eligible, you must either have been self-employed for more than 2 years OR be registered with AHPRA as a specialist.
This product is not available through retail branches. Additionally, if you run your medical practice, special rules may apply. Speak with a senior mortgage broker on 1300 030 388 or enquire online to find out if you qualify.
Doctors often have unusual income structures that all banks do not accept. You don’t want to be caught out by approaching a bank that won’t accept your income.
Here is a breakdown of various income structures (applicable to doctors and other medical professionals) that lenders will accept:
- Base PAYG salary for permanent part/full time: 100% is accepted
- Casual Income: 100% is acceptable. Most banks require 12 months with your current employer. However, a few banks can consider casual income with as little as 3 months or less with your employer.
- Overtime: A few banks will consider 100%; however, most banks generally only accept 80%. You will need to be with your employer for at least 3 months.
- Allowances: Depending on the allowance, 100% can be considered; otherwise, only 80% is generally acceptable.
- Invoices paid to your ABN: 2 year tax returns are generally required. However, depending on how long you’ve been getting paid through invoices, a combination of invoices, BAS, interim tax returns & evidence of your previous income can be accepted. Some lenders accept an ABN as little as 6 months old.
- Business income from running your practice: 2 year tax returns are generally required. However, depending on how long you’ve been self-employed, a combination of business activity statements & interim tax returns can be accepted.
Depending on the value of your home loan, we can save you within the tens of thousands of dollars on your doctor home loan.
We pay doctors, on average, $11,850 to cover their annual loan fees, saving them thousands of dollars through the lifetime of their loan.
Don’t risk it! Our specialist mortgage brokers have assessed thousands of credit checks for medical professionals and can easily pinpoint where we can help you save. Whether you’re a medical professional looking to purchase your first home or investment property or refinance your home loan, we can help.
Of course! We negotiate with CommBank, NAB, ANZ or Westpac to approve your home loan.
Unsurprisingly, most doctors and medical professionals prefer to bank with either of the big four banks; we get it! Given their reputation and size, most feel secure knowing sufficient resources are available. They also offer a wide range of financial products, enabling great convenience for busy professionals.
If you meet the criteria set by the big four banks, you should be eligible for an exclusive doctor home loan.
If you’re in a tough financial position, such as issues related to previous loan defaults or poor credit history, don’t worry. We may still get you a competitive interest rate with one of the big four banks. All home loans are different, and we encourage you to first speak with our senior mortgage broker before deciding.
Our mortgage professionals make applying for home loans for doctors as simple as getting any regular mortgage. Instead of the constant back and forth, your senior broker will guide you through the entire pre-approval process to collect any required documents in one go.
We have helped hundreds of medical professionals get tough home loans approved quickly, and we’re confident we can do the same for you.
Before speaking with us, here are some standard documents you should have ready.
Personal identification documents
This includes your primary identification documents, such as your Australian passport or driver’s license, which clearly show your full name, photo identification, date of birth, and current residence.
Your Australian citizenship certificate, birth certificate or proof of permanent residency.
In cases where you’re unable to access your primary identification documents, most lenders will typically require you to submit two secondary documents.
Proof of income
This includes two of your most recent payslips from your current employer.
You must provide two ATO tax returns from the last financial year for self-employed medical professionals.
Additional documentation
Bank statements and internet transaction history show your current level of savings.
Any other home loan statements.
Depending on your financial situation and history, we negotiate on your behalf for the lowest home loan interest rates available to doctors. These rates can apply whether buying an investment property or being owner-occupied.
Note that interest rates are highly personalised and vary for every individual.
In short, yes! We specialise in helping Australian doctors get the toughest of home loans approved, even at competitive interest rates.
Our experienced team of mortgage specialists and credit managers has assessed the financial situation of thousands of medical professionals. We understand the financial challenges that many doctors face. As a result, we have built practical processes that eliminate common obstacles and get tough home loans approved quickly.
You’re not alone! Speak with our senior mortgage broker today and fill us in on your home loan situation.
Unfortunately, nurses are not eligible. This applies to all types of nurses, including clinical nurses, aged care nurses, theatre nurses etc.
The good news is that some nurses may fit the eligibility criteria for certain LMI waivers. As a nurse, you may be eligible for waived LMI at 90% should you earn over $90,000.
Yes, you can qualify if you are married to an eligible doctor. This applies if you are applying for the mortgage together rather than separately. Consult with a senior mortgage broker to find out more about your eligibility.
Absolutely! All our brokers are rated amongst the top 100 mortgage brokers in Australia.
We’re an outcome-driven mortgage brokerage committed to helping doctors like you reach their financial goals. Our premium broker status helps us get the fastest turnaround times and the cheapest interest rates in the market.
Our brokers and credit analysts have extensive track records working in Australia’s leading banks as the people responsible for accepting and declining loans. We know what it takes to get all types of loans approved!
We know that time is of the essence. Once you reach out to us and fill us in on your financial situation we immediately start the process and set the wheels in motion.
Our mortgage professionals return to you with your best options in just 24 hours.
Yes. As a qualified medical professional, not only do you receive waived LMI and interest rate discounts, but you also receive all the common loan features.
The types of home loan features include:
Fixed interest rates
- Credit card with ongoing fee waived
Variable interest rates
Interest-only home loans
100% offset accounts
Split mortgages
- Redraw
At Mortgage Pros, we’re the professionals who medical professionals call for the best home loan deals in the market. We have developed a winning formula for helping doctors all across Australia secure the best home loan deals.
When you engage with us, our senior brokers will return the best home loan options to you in less than 24 hours. No matter your unique financial requirements, our doctor home loan specialists have a solution for you. It’s simple; we write home loans for doctors that get approved.
Everything is risk-free, meaning you don’t have to pay us for our services. We work and negotiate on your behalf and are paid directly by the banks to create a win-win situation. Save time and money by speaking to us about home loans for doctors today.
