Medical professional home loans: no LMI, up to 95%
Doctors can borrow up to 95% of a home's value with no lenders mortgage insurance (LMI) at Westpac Group, ANZ and NAB, each with its own conditions, and to about 90% at CommBank, Suncorp and Bankwest (Bankwest on loans up to $2 million). On a $1,000,000 home at 95%, that's about $43,500 of LMI you don't pay. Pharmacists, physios, vets and other allied health professionals are covered by fewer lenders, mostly to 90%, though NAB takes pharmacists, physios and vets to 95% for a home.
How does a medical professional home loan work?
It's an ordinary home loan with one difference: the lender treats your profession as low risk and waives LMI, the one-off insurance most lenders charge when you borrow more than 80% of a property's value. So you can buy with a 5% or 10% deposit without that cost, which on a 95% loan can run to tens of thousands of dollars.
There's no single "doctor loan". Each lender writes its own list of who qualifies, how far it lends and on what conditions, and the lists don't agree. That's why the comparison below matters more than any one lender's offer.
Which lenders waive LMI for doctors, and to what limit
For doctors buying a home to live in, from each lender's own policy as checked on 1 October 2026.
| Lender | Highest loan without LMI | Interns and registrars | Main conditions |
|---|---|---|---|
| Westpac Group (Westpac, St.George, Bank of Melbourne, BankSA) | 95% | Included: hospital doctors, interns, residents and registrars | Principal and interest; no minimum income; loans up to $5 million |
| ANZ | 95%, or 90% if your debts are 6 times your income or more | General or specialist registration only | Principal and interest; no bridging loans or family guarantees |
| NAB | 95% | Not named in the policy | AHPRA registration; your main income from the profession; property up to $4.5 million |
| CommBank | 89.99% | Included in the fields its list names | Its medical package; principal and interest |
| Bankwest | 89.99% on loans up to $2 million, 84.99% up to $3 million | GP interns and residents named | Principal and interest; more than 40 specialities listed |
| Suncorp | 90% | Not named in the policy | Medical practitioners only; new lending from $250,000, total up to $1.5 million; principal and interest; no interest-only, construction, bridging or pre-approval |
ING and AMP don't offer a professional LMI waiver. Every lender also applies its normal credit tests: the waiver removes LMI, not the assessment.
Interns and registrars: who'll lend before you're a specialist
This is where the lenders split most. Westpac Group's medical group names interns, residents and registrars alongside GPs and specialists, lends to 95% and sets no minimum income, so a junior doctor's salary isn't held against the waiver. Bankwest names GP interns and residents too, to 89.99% on loans up to $2 million.
ANZ asks for general or specialist registration. CommBank's list includes interns, residents and registrars in the fields it names. NAB and Suncorp don't name junior doctors, so it comes down to how each reads your registration. Every lender still tests whether your income carries the loan.
Which professions count, and where the line falls
Doctors, at every lender above. GPs, specialists, surgeons and hospital doctors are covered by all six. Suncorp covers medical practitioners only, so its waiver stops at doctors.
Dentists, at most of them. Westpac Group, ANZ and NAB go to 95%, and CommBank and Bankwest cover dentists too. NAB leaves out dental hygienists; Suncorp leaves out dentists altogether.
Allied health, at fewer lenders and mostly 90%. Physios, optometrists, chiropractors and vets get 90% at ANZ. Westpac Group takes physios, psychologists, optometrists, vets and pharmacists to 90% with a $90,000 income floor. NAB lists chiropractors, optometrists, pharmacists, physios and vets with its doctors, to 95% for a home. CommBank and Bankwest leave out physios and psychologists.
Pharmacists are a different row
Pharmacists are often told they qualify like doctors. Lender by lender, it's narrower. NAB lists pharmacists in its medical group, with the same 95% for a home to live in. Westpac Group puts them in its second group, at 90% with $90,000 of income from the qualification. Bankwest names them, to 89.99% on loans up to $2 million. CommBank asks for $100,000 gross. ANZ's medical groups don't name pharmacists, and Suncorp's covers doctors only.
How lenders read a medical income
The waiver settles the deposit, not the borrowing. Each lender still works out what you can repay from your income, and a salaried hospital doctor's payslip is the simplest case. NAB wants your main income to come from the profession, and Westpac Group's second group counts only income from the eligible qualification.
If you own or share a practice, or bill as a contractor, most lenders read you as self-employed and ask for tax returns and financial statements. If you trained overseas, your AHPRA registration is what lenders check: ANZ, NAB and Suncorp tie the waiver to it.
What the waiver is worth, in dollars
LMI on a 95% loan to buy a home to live in, on one lender's standard rates. With a waiver, you don't pay it.
| Purchase price | Loan at 95% | LMI without a waiver |
|---|---|---|
| $800,000 | $760,000 | about $34,800 |
| $1,000,000 | $950,000 | about $43,500 |
| $1,200,000 | $1,140,000 | about $57,500 |
| $1,500,000 | $1,425,000 | about $71,800 |
At 90% the same card gives about $24,100 on a $1,000,000 home. LMI varies between lenders, so these are illustrations from one rate card, not a quote.
Buying an investment property under a medical policy
Some waivers carry over to investment loans, usually at a lower limit. ANZ goes to 95% for doctors on an investment loan, interest-only included, where your debts are under 6 times your income, and 90% for its allied health group. NAB goes to 90% on an investment, against 95% for a home. CommBank reaches 94.99% for an investment purchase under its medical package, with debts no more than 6 times income. Bankwest applies the same limits to investment as to a home.
What you'll need to provide
Proof of registration. Your AHPRA registration (or your state veterinary board for vets), showing the type: provisional, general or specialist.
Proof of income. Payslips and an employment contract if you're salaried; tax returns and financial statements if you run or share a practice.
The deposit and costs. 5% or 10%, plus stamp duty and fees, from your own savings.
The lender's package, where it asks for one. CommBank's waiver comes with its medical package.
Who doesn't qualify, said plainly
Nurses, under these medical waivers. CommBank, NAB and Bankwest leave nurses out of their medical groups. Westpac Group covers registered nurses and midwives separately, to 90%.
Professions a lender doesn't list. Each lender's list is closed: if your role isn't on it, that lender charges LMI above 80%.
Borrowers outside a lender's limits. Bankwest's medical limits run to a $3 million loan, Suncorp's waiver to $1.5 million of total lending, and NAB's to a $4.5 million property. Outside those, the waiver doesn't apply at that lender.
Interest-only borrowers, at most lenders. Most of these waivers are for principal and interest repayments.
Doctor home loan questions
Yes. Westpac Group, ANZ and NAB waive lenders mortgage insurance for doctors up to 95% of the property's value, and CommBank, Suncorp and Bankwest to about 90% (Bankwest on loans up to $2 million), each with conditions (Money Brain, lender policies checked 1 October 2026).
A doctor, dentist or allied health professional buying a home?
Tell me your role and registration, what you earn, the price you're looking at and what you've saved. I'll tell you which lenders would waive LMI for you, at what limit, and which comes out ahead.
You'll hear back within the hour in business hours, and by 9am the next business day after hours.
Sources
- 1
Lender policies on professional LMI waivers: Westpac Group (Westpac, St.George, Bank of Melbourne, BankSA), ANZ, NAB, CommBank, Bankwest, Suncorp, ING, AMP. Checked 1 October 2026; CommBank's medical list re-read 2 October 2026.
- 2
LMI premiums: one lender's published rate card, owner-occupier standard rates. Checked 1 October 2026.
Updated 3 October 2026