Home Loans for Medical Specialists Australia: Up to 95% LVR
For Doctors or Approved Medical Specialists who are Australian Citizens or Permanent Residents
- Borrow up to 95% of the purchase price
- Zero Lenders Mortgage Insurance premium – save up to $40,000
- Discounted interest rates
- No cost, no obligation service
Why Choose Home Loans for Medical Specialists?
Professional Home Loans can offer Medical Specialists in Australia the following:
- High LVR: Up to 95% for specialists, minimizing deposits.
- Low Deposit: As low as 5% for established specialists with AHPRA registration.
- Fast Approvals: 24–48 hour decisions for eligible professionals.
- Expert Support: Navigate income verification and loan limits with ease.
Book in for a Strategy Session today.
Eligibility for Medical Specialist Loans
To qualify for a medical specialist loan, you must be an AHPRA-registered specialist (verify at AHPRA) and a member of your relevant professional body, such as:
- Anaesthetist: The Australia and New Zealand College of Anaesthetists (ANZCA)
- Cardiologist, Clinical Pharmacologist, Endocrinologist, Gastroenterologist, Haematologist, Immunologist, Neurologist, Oncologist, Radiologist, Rheumatologist: Royal Australasian College of Physicians (RACP)
- Cardio Thoracic Surgeon, General Surgeon, Gastro Intestinal Surgeon, Emergency Surgeon, Ear and Throat Surgeon, Oral and Maxillofacial Surgeon, Orthopaedic Surgeon, Paediatric Surgeon (Neonatal/Perinatal), Plastic Surgeon, Reconstructive Surgeon, Respiratory/Thoracic Surgeon, Vascular Surgeon, Urologist, Neurosurgeon, Otolaryngologist: Royal Australasian College of Surgeons (RACS)
- Cosmetic Surgeon: Australasian College of Cosmetic Surgery and Medicine (ACCSM)
- Dentist: Australian Dental Association (ADA) or Royal Australasian College of Dental Surgeons (RACDS)
- Dermatologist: Australasian College of Dermatologists (ACD)
- Emergency Surgeon: Australasian College for Emergency Medicine (ACEM)
- General Practitioner: The Royal Australian College of General Practitioners (RACGP) or Australian Medical Association (AMA)
- Gynaecologist, Obstetrician: Royal Australian and New Zealand College of Obstetricians and Gynaecologists (RANZCOG)
- Herpetologist (assumed Hepatologist): Royal Australasian College of Physicians (RACP)
- Ophthalmologist: Royal Australian and New Zealand College of Ophthalmologists (RANZCO)
- Optometrist: Optometrists Association Australia (Optometry Australia)
- Pathologist: Royal College of Pathologists of Australasia (RCPA)
- Psychiatrist: Royal Australian and New Zealand College of Psychiatrists (RANZCP)
Additional requirements:
- Registration: AHPRA registration and Medical Practitioners Board of Australia oversight.
- Income: Full-time or part-time employment; self-employed specialists need 2 years’ tax returns.
- Credit: Good credit history; minor issues assessed case-by-case.
- Deposit: 5–20% depending on experience and specialty.
- Loan Limit: Up to $5M for established specialists.
Benefits of Medical Specialist Loans
Our home loans for medical specialists provide unique advantages:
- No LMI for Experienced Specialists: Waived for specialists with over 5 years’ experience in some cases.
- Flexible Income Assessment: Accounts for variable shifts and bonuses.
- Rural Incentives: Lower rates for specialists in regional areas.
- Tax Benefits: Potential deductions for investment properties.
Use our Loan Calculator to explore options!
How to Apply for Medical Specialist Loans
Step 1: Initial Consultation Our experienced brokers assess your financial situation, land purchase goals, and recommend suitable lending options.
Step 2: Pre-Approval Obtain conditional approval based on your financial capacity, helping strengthen your position when making offers.
Step 3: Property Assessment Once you’ve identified suitable land, we coordinate professional valuations and due diligence requirements.
Step 4: Formal Application Submit comprehensive application with all required documentation to your preferred lender.
Step 5: Approval and Settlement Final approval typically takes 14-30 days, followed by settlement coordination with your legal representatives.
Required Documentation:
- Income verification (payslips, tax returns, financial statements)
- Bank statements (3-6 months)
- Identification documents
- Asset and liability statements
- Property documentation and contracts
- Insurance arrangements
Free 30-Minute Finance Strategy Session For Professionals
Discover How To Get Approved With A Lower Interest Rate & Save Up To $40,000 In Fees
Why are lenders offering this preferential deal to Medical Practitioners?
The basis of Lenders Mortgage Insurance is to protect the lender against the possibility of default by its mortgage customers. However, some lenders have realised that you, as a practicing medical professional, are far less likely to default on your mortgage than other customers. Because of this, these banks are prepared to waive their LMI premium with a far lower deposit.
If I am buying with my partner/ spouse who is not Medical Practitioner/ Doctor, will I still qualify for the LMI Waiver?
Eligibility for this valuable mortgage benefit is not dependent upon both borrowers being employed in the health profession. So long as one of you meets the eligibility criteria by your employed position, then your need to pay the LMI premium can be waived.
Can I use the First Time Home Owners Grant as part of my deposit?
Taking away one valuable benefit and replacing it with another makes no sense, so happily the answer is ‘yes, you can.’ Your deposit can come from any number of sources: savings, gifts, and the First Home Owners Grant. There is, however, a requirement for a genuine 5% of savings to be used, although even this can be waived in certain circumstances.