Profession loans · medical practitioners
Doctor home loans — 95% LVR with no LMI.
AHPRA-registered medical practitioners are one of the very few borrower types approved to 95% LVR (and occasionally 100% LVR) with full LMI waiver. On a $1.2M purchase that's roughly $35,000-$45,000 in LMI not being paid to the insurer or capitalised into the loan. The waiver is real — but the lender that writes the cleanest version of it isn't always the one with the sharpest rate.
Run the LMI break-even → Check borrowing capacity →The standard medical-package tier is 95% LVR no LMI. That's a meaningful waiver. Less well-known: a small group of specialist medical lenders (BOQ Specialist most consistently, occasionally Medfin or Macquarie depending on file shape) extend the program to 100% LVR — no deposit required for the property itself, only enough cash to cover stamp duty and conveyancing. For an established consultant or specialist on a $1.5M+ purchase, the 100% tier saves the borrower from running down liquid assets at the worst possible moment of a property transaction.
The math: a $1.5M Brisbane purchase, established consultant ($350k+ income, 5 years post-fellowship). 95% LVR loan = $1.425M with $75,000 deposit. 100% LVR loan = $1.5M with $0 deposit. The $75k stays liquid for the practice, the investment portfolio, or the next purchase. Servicing remains comfortable at consultant income levels. The narrower part of the panel that writes 100% LVR is where this gets routed — not the Big 4 default.
Who qualifies for the medical package
AHPRA registration in a recognised medical category is the eligibility document for every lender's program. The registration types and career stages accepted across the panel:
- General medical practitioners (GPs) — full AHPRA general or specialist registration through RACGP / ACRRM. Universal acceptance across the medical panel.
- Specialists across recognised colleges — RACP, RACS, RANZCP, RANZCO, RANZCR, ANZCA, RACMA, RCPA and others. All accepted at the 95% tier; established consultants typically qualify for the 100% LVR tier at specialist lenders.
- Registrars (advanced and basic trainees) — accepted at most lenders provided AHPRA registration is in place and the training contract is documented. Specialist medical lenders (BOQ Specialist, Medfin) lend on the training-to-consultant career trajectory.
- Fellows and post-fellowship consultants — strongest file shape. Universal 95% acceptance; 100% LVR available at specialist lenders for established practice.
- Locum medical practitioners — accepted with 6-12 months of consistent locum income pattern. Specialist medical lenders treat locum income materially more favourably than generic lenders.
- International medical graduates (IMGs) — accepted once AHPRA registration is final (general or specialist). IMGs in AMC pathway or supervised practice awaiting full registration are typically declined on the waiver until registration completes.
What the waiver is worth — worked example
A typical Gold Coast / Brisbane purchase by an established specialist. The LMI saving sits in the loan permanently — it's not refunded later or recovered through any package-fee mechanism.
Example — specialist consultant, $1,200,000 purchase, 5% deposit
- Purchase price
- $1,200,000
- Deposit (5%)
- $60,000
- Stamp duty (QLD owner-occ)
- ~$40,800
- Conveyancing & other
- ~$2,500
- Total upfront cash
- $103,300
- Loan amount
- $1,140,000
- LVR
- 95%
- LMI if no waiver
- ~$38,000 (capitalised or paid)
- LMI under medical package
- $0
Panel-typical medical package — comparative table
Selected lenders that write the medical-professional waiver. Specific eligibility rules and rates vary by file. We model the full panel on the file before recommending one — the table below is comparative, not exhaustive.
| Lender | Max LVR no LMI | Panel note |
|---|---|---|
| BOQ Specialist | 100% | Most generous medical program. Locum income accepted favourably. Strongest on consultants / established specialists. |
| Medfin (NAB-owned) | 95% | Medical-specialist lender. Strong on training-to-consultant arc. Practice-purchase finance also available. |
| Macquarie | 95% | Competitive medical package rates. 100% LVR sometimes available for established consultants on strong file shape. |
| CBA | 95% | Universal medical acceptance. Cleanest GP / specialist application process across the Big 4. |
| Westpac | 95% | Strong on RACGP/specialist college registrations. Locum income shading slightly more conservative than specialists. |
| NAB | 95% | Profession package; Medfin sister-brand handles the specialist-medical workflow directly. |
| ANZ | 95% | 95% waiver; income shading methodology more conservative on locum-heavy files than specialist lenders. |
| ING | 95% | Lean package fee structure; clean digital application; competitive rates for established medical practitioners. |
| Bankwest | 95% | Strong for WA + QLD AHPRA-registered medicos. Good fit for early-career GPs and registrars. |
Model your file before choosing the lender
The waiver matters; the rate matters too. On a $1.2M loan a 0.20% rate gap is $2,400/year — easily eclipses the LMI saving over time. The LMI break-even calculator models package rate vs vanilla 95% LMI capitalised across your actual hold period. Borrowing-capacity calc shows the panel-spread on your income shape.
Run the LMI break-even → Check capacity →File-shape pitfalls — where the medical package gets messy
- Locum-heavy income mix. Generic lenders shade locum income at 60-80% as casual. Specialist medical lenders typically accept locum at face value with 6-12 months of consistent placement. The lender choice swings borrowing capacity materially on locum-heavy files — usually $150,000-$250,000 difference on the same gross earnings.
- Self-employed / private practice income. Doctors running private practice (consulting rooms, solo GP, group practice partner) present as self-employed. The medical package still applies but lender routing matters — full-doc requires two years of practice returns. Specialist medical lenders accept newer practice income shapes more readily.
- Provisional or limited AHPRA registration. Most lenders require full general or specialist registration at file lodgement. Provisional registration (PGY1 intern) qualifies at fewer lenders; international medical graduates in AMC pathway awaiting registration are typically declined until registration finalises.
- Practice loan + home loan from the same lender. Specialist medical lenders that do both practice finance and personal home loans (BOQ Specialist, Medfin) often offer a relationship-discount package combining the two. Worth modelling against the alternative of separate lenders if servicing allows it.
- Investment property under the medical package. Most lenders cap the investor waiver at 90% LVR — not 95%. A small number of specialist lenders extend the full 95% waiver to investor for established consultants with strong asset position. Right lender choice matters on investor files.
Quick FAQs
What LVR can a doctor borrow to without LMI?
95% LVR with most lenders running a medical-professional package. 100% LVR available at a small number of specialist medical lenders (BOQ Specialist most consistently) for established consultants and specialists.
How much is the waiver worth?
Roughly $35,000-$45,000 on a $1.14M loan at 95% LVR. Significantly more than the 90% LVR profession waivers because LMI premiums escalate sharply between 90% and 95% LVR.
Do registrars and trainees qualify?
Yes — at most lenders. Specialist medical lenders (BOQ Specialist, Medfin) specifically design programs around the training-to-consultant career arc and lend on the trajectory.
How is locum income treated?
Specialist medical lenders accept locum income at face value with 6-12 months of consistent placement. Generic lenders shade locum at 60-80% as casual income — usually a $150-250k difference in borrowing capacity on the same earnings.
Can the waiver be used for investment property?
Most lenders cap the investor waiver at 90% LVR. A small group of specialist medical lenders extend the 95% LVR waiver to investor for established consultants with stronger asset position.
Does AHPRA registration matter?
Yes — universally required. Full general or specialist registration through AHPRA is the eligibility document. Provisional registration narrows the lender shortlist; IMGs in supervised practice awaiting full registration are typically declined until registration is finalised.