GPs, specialists, registrars, junior doctors. LMI waiver up to 90% LVR. Borrow $1M+ despite high HECS debt. Lenders who understand medical career progression.
Banks offer doctors the best rates, LMI waivers, and highest borrowing multiples in Australia.
Junior doctors: $80K-$110K. Registrars: $120K-$180K. GPs: $200K-$400K. Specialists: $300K-$800K+. Exceptional earning potential.
Intern → Resident → Registrar → Consultant/GP. Income doubles every 3-5 years. Lenders can forecast entire career earnings.
Doctors have lowest mortgage default rate of any profession (<0.1%). Banks love this. Leads to premium rates and special terms.
AHPRA registration valid Australia-wide. Moving cities? Find work immediately. International mobility to UK, Canada, NZ.
Chronic doctor shortage in Australia. GPs, rural doctors especially in demand. Job security guaranteed for entire career.
Highly educated, strong financial literacy, responsible borrowers. Lenders view doctors as premium clients worthy of best deals.
Special features only available to medical professionals.
Most borrowers pay LMI if borrowing >80% LVR. Doctors get this WAIVED up to 85-90% LVR. This saves $10K-$40K.
You save $28,500 just by being a doctor!
Regular borrowers: 5-6× income. Doctors: 7-8× income (some lenders even 10×).
Income: $150,000
Borrow: $750K-$900K (5-6×)
Income: $150,000
Borrow: $1.05M-$1.2M (7-8×)
Medical degrees cost $70K-$120K HECS. Lenders understand this and don't penalize doctors as heavily as other professions.
$100K HECS debt reduces borrowing capacity by $150K-$200K
$100K HECS reduces capacity by only $50K-$80K (they factor in high future income growth)
Medical professional applications get priority processing. 24-48 hour pre-approval common.
Dedicated medical professional lending teams
Streamlined documentation requirements
Pre-approval based on contract alone (before first payslip)
How lenders assess income at different career stages.
Income: $80K-$110K
Years: 1-3 post-graduation
Borrowing: $400K-$660K
LMI Waiver: No (junior stage)
Best Lenders: Big 4 banks
Deposit: 10-20% required
Lending Tip: Wait until you start registrar training (usually year 3-4). Income jumps to $120K-$150K and LMI waivers become available. Unless using guarantor, junior doctors struggle to buy in major cities.
Income: $120K-$180K
Years: 4-10 post-graduation
Borrowing: $840K-$1.44M
LMI Waiver: Yes (85% LVR)
Best Lenders: Macquarie, NAB, St George
Deposit: 10-15%
Lending Tip: Ideal time to buy. Solid income, LMI waiver available, lenders understand you'll be consultant/GP in 2-5 years earning $250K-$500K+. Can borrow aggressively because future income growth is guaranteed.
Income: $200K-$400K
Years: 10+ post-graduation
Borrowing: $1.4M-$3.2M
LMI Waiver: Yes (90% LVR)
Best Lenders: All major lenders compete
Deposit: 10% (or less)
Income Types: Salaried GP ($180K-$250K) easier to lend to. Private billing GP ($250K-$400K) requires 1-2 years tax returns to prove income. Mixed billing common: part salary, part billing. Lenders assess conservatively on billing income (count 80%).
Income: $300K-$800K+
Years: 12-15+ post-graduation
Borrowing: $2.1M-$6.4M+
LMI Waiver: Yes (90% LVR)
Best Lenders: Private banks, Macquarie
Deposit: 10%
High-Income Lending: Surgeons, anesthetists, cardiologists often earn $500K-$1M+. At this level, private banks (Macquarie, Beyond Bank) offer bespoke packages. Can structure complex lending: PPOR + investment properties + practice purchase loans simultaneously.
Best overall package for medical professionals. Industry leader in doctor home loans.
✓ LMI waiver: Up to 90% LVR for GPs and specialists
✓ Rates: 5.89%-6.29% variable (among lowest)
✓ Borrowing: Up to 8× income for established doctors
✓ Features: 100% offset, free redraws, no monthly fees for medical professionals
Westpac Group lenders with generous medical professional packages.
✓ LMI waiver: 90% LVR for GPs, 85% for registrars
✓ Competitive rates: 5.99%-6.39%
✓ Good for: Junior doctors transitioning to registrar roles
Strong medical professional program, especially for high-income specialists.
✓ LMI waiver: 85% LVR for specialists
✓ High income lending: Excellent for doctors earning $300K+
✓ HECS friendly: Better treatment of high HECS debt than CBA/ANZ
Yes, but borrowing capacity is limited ($400K-$550K on $90K-$110K income). Best options: (1) Buy apartment/unit in affordable area, (2) Use parent guarantor to boost capacity to $650K-$850K, (3) Buy with partner (combined income), (4) Wait 2-3 years until registrar (income jumps to $130K-$160K = $650K-$960K borrowing + LMI waiver). Most junior doctors wait or use guarantor.
With LMI waiver (GPs/specialists): 10% deposit. Some lenders even 5% for established doctors with strong income. Registrars: 10-15% deposit typical. Junior doctors: 10-20% deposit (no LMI waiver). Example: $900K property, GP needs $90K deposit (10%) vs regular borrower needs $180K (20%) to avoid LMI. This is why doctors can buy earlier in career despite HECS debt.
Salaried GPs: Easy. Provide employment contract + payslips. Income counted 100%. Private billing GPs: Need 1-2 years tax returns + financials. Lenders count 80-100% of declared income. Mixed billing: Salary portion = 100%, billing portion = 80%. Example: $100K salary + $150K billing = Lender counts $100K + $120K (80% of billing) = $220K assessable income. Tip: Use accountant-prepared financials to maximize assessable income.
No. Doctor-friendly lenders understand medical degrees cost $70K-$120K HECS. Regular lender: $100K HECS reduces capacity by $150K-$200K. Doctor-friendly lender: $100K HECS reduces capacity by only $50K-$80K. They factor in your high future income. Strategy: Don't pay off HECS before buying. Keep cash for deposit. Your high income will easily cover HECS repayments ($10K-$20K/year on $200K+ income). Exception: If HECS is small ($20K-$40K) and you're buying in 12+ months, consider paying it off.
Maybe. Registrar with signed contract: Yes, Macquarie and others pre-approve based on contract before first payslip. About to finish registrar: Yes, lenders pre-approve anticipating consultant income (with letter from employer confirming position). Still in med school/intern: No, unless using guarantor. Best timing: Start registrar training OR secure consultant/GP position. Lenders love certainty of future income at these stages.
PPOR first (most doctors): LMI waiver only applies to PPOR. CGT exempt when you sell. Build equity then buy investment later. Investment first (some doctors): If you'll relocate multiple times during training, buy investment in city you'll eventually settle. Rent elsewhere for work. Tax deductions on interest. Both simultaneously (high-income specialists): Earning $300K+? Buy PPOR with LMI waiver + investment property. Service both loans comfortably. Best strategy for most: PPOR first, then investment 2-5 years later once income increases.
We specialize in medical professional home loans. We'll find you the best LMI waiver, maximize your borrowing capacity despite HECS debt, and get you pre-approved fast.
✓ LMI waiver up to 90% • ✓ High HECS debt accepted • ✓ Borrow 7-8× income