Doctor Home Loans in Australia — Borrow Up to 95% with No LMI

What Is LMI — And Why Don't Doctors Have to Pay It?

Lenders Mortgage Insurance (LMI) is a premium charged to borrowers who borrow more than 80% of a property's value. It protects the lender (not you) in the event of default, and it's not cheap — on a $1,000,000 property purchased with a 10% deposit, LMI can add $20,000–$30,000 to your loan balance, on top of which you pay interest for the life of the loan.

Select lenders waive LMI for medical professionals because actuarial data consistently shows doctors have among the lowest mortgage default rates of any profession. A registrar earning $120,000 today will likely be earning $300,000+ within five years. Lenders who understand the medical career trajectory are willing to extend higher LVR borrowing without the LMI premium — treating the profession itself as the risk offset.

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   Not all lenders offer it

   Only a subset of lenders on our panel — typically specialist and mid-tier banks — have formal medico home loan products with LMI waivers. The big four banks have limited or inconsistent policies. We compare every lender who offers it and find the one whose terms, rates, and eligibility criteria best suit your situation.

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   LVR limits vary by lender and profession

   Most medico lenders waive LMI up to 90% LVR. Some extend to 95% LVR for certain professions (typically AHPRA-registered medical practitioners). Allied health professionals may be capped at 90%. LVR limits also differ for owner-occupied vs investment properties. We know each lender's specific policy and match you accordingly.

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   You still need to demonstrate serviceability

   The LMI waiver removes the deposit barrier but doesn't change serviceability requirements. The lender still needs to confirm you can comfortably afford repayments based on your income, existing debts, and living expenses. We help structure your application — including how HECS repayments, overtime, sessional, and locum income are calculated — to present the strongest case.

Which Medical Professions Qualify for a Medico Home Loan?

Eligibility is lender-specific, but the following professions are commonly covered. AHPRA registration is typically required for medical and allied health professions. Not every lender covers every profession below — we match you to the lender whose medico policy fits your specific registration.

Why Medical Professionals Choose RyRo Loan Centre

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   13+ years of specialist lending experience

   We have been helping clients with complex and specialist lending scenarios for over a decade. We know the medico lender landscape — who offers the best waiver, which lenders handle locum income well, and how to position applications that standard brokers present poorly.

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   We compare 50+ lenders, not just one or two

   Major bank branches can only offer their own products. We access the full market — including specialist and non-bank lenders who carry the most competitive medico policies. You get the benefit of genuine comparison, not a single lender's pitch.

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   We understand HECS, locum and sessional income

   Many brokers don't know how to properly document and present locum, after-hours, or sessional earnings. We do. We know which lenders shade income types generously and how to present complex income structures to credit assessors in a way that maximises your approved borrowing capacity.

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   $0 broker fees

   Our service is free to you. We are paid by the lender on settlement. There are no upfront fees, no application charges, and no hidden costs at any stage of the process.

5. 5

   340+ verified 5-star reviews

   Our clients speak for themselves. Over 340 verified five-star Google reviews from real borrowers across Sydney and Australia. Read them on our Reviews page or check Google directly.

Medico Home Loan FAQs