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St.George provides excellent medico home loan products with lenders’ mortgage insurance (LMI) waivers for medical practitioners and qualified healthcare professionals.
St.George Medico Policy
Home loan applicants can enjoy the following benefits under St.George’s Medico Policy:
- Borrow up to 95% LVR with no LMI for qualified medical professionals
- Get approved for a maximum loan amount of $5M or $7.5M total lending with an LMI waiver (plus miscellaneous loan fees).
- Non-Medico applicants under accounting and legal specialisations could borrow up to 90% LVR with no LMI fees.
What occupations are eligible for St.George Medico Policy with No LMI?
St.George offers LMI waivers for up to 95% LVR for the following medical occupations with no minimum income requirement:
- Doctors
- Dentists
- General Practitioners
- Medical Specialists
- Hospital-employed Doctors (interns, residents, registrars, staff Specialists)
The following medical occupations could borrow up to 90% LVR with no LMI, with a minimum income threshold of about $90,000 per annum:
- Audiologists
- Chiropractors
- Midwives
- Registered Nurses
- Occupational Therapists
- Osteopaths
- Physiotherapists
- Podiatrists
- Psychologists
- Radiographers
- Sonographers
- Speech Pathologists
- Optometrists
- Pharmacists
- Veterinary Practitioners
How Do I qualify for a St.George Medico LMI Waiver?
To qualify for an LMI waiver for St.George’s Medico Home Loan:
- You need to belong to the qualified industry categories (industry, occupation, qualification, and income) with relevant qualifications
- All eligible applicants must meet the minimum income threshold (if applicable). Few medical professions that don’t have minimum income requirements include dentists, general practitioners, medical specialists, and hospital-employed doctors
- Spousal and rental income do not count toward the minimum threshold
- All medico applicants must be Australian citizens. Non-Australian citizens must have approved permanent visa holders.
- Applicants with only 457 visas are not eligible for a St.George Medico home loan with LMI waivers
It must not be a construction loan or used to purchase land.
Apply for a Medico Home Loan with LMI Waiver on St.George
At Mortgage Pros, we’ll work with you and thoroughly facilitate your home loan application should you want to apply for a St.George Medico Home Loan without paying LMI.
We’re committed to providing reliable and friendly customer support to busy medical professionals and doctors. Our home loan specialists will negotiate and lobby your application with St. George on your behalf.
Speak with us at 1300 030 388 to learn more about St.George Medico’s home loan policy and whether you qualify for an LMI waiver as a medical professional.
Interested in getting an LMI-waived home loan from another bank? We can help! See more banks below.
