Home Loans For Medical Professionals

Home Loans for Medical Professionals

We can help medical professionals get approved for 90% LVR with no LMI at JFS Financial Strategists. Our specialists will take care of your financing needs so you can focus more on more important work.

Our experience and expertise have helped medical professionals realise their dream home, expand their investment portfolios, and save time and money with 90% no LMI home loans.

What Is the Maximum LVR I Can Get Without Paying LMI as a Medical Professional?

Medical professionals can apply for 90% LVR home loans with no Lenders’ Mortgage Insurance (LMI).

Why is LMI Waived for Medical Professionals in 90% Home Loans?

Borrowers will pay LMI to their insurance providers when borrowing loans with higher Loan-to-Value Ratios (LVR). For LVR higher than 80%, the bank becomes exposed to a higher risk. Hence they’ll require LMI in case of loan default where they’ll need to sell your property at a loss.

The insurance provider will reimburse the loss incurred after selling the property or loan security. 

However, most banks and lenders see medical professionals as low-risk borrowers with stable incomes. Hence, you are viewed with less risk of defaulting on the loan and can therefore apply for a higher LVR with no LMI.

Which Medical Professionals Can Apply for 90% LVR With No LMI?

Most banks in Australia offer 90% LVR with LMI waivers for the following eligible medical professionals. To find out which banks are the most suitable for your financial position, please speak to a JFS broker today.

Occupations that are eligible for 90% LVR with no LMI include: 

• Anaesthetist
• Cardiothoracic Surgeon
• Cardiologist
• Clinical Pharmacologist
• Cosmetic Surgeon
• Dentist
• Dermatologist
• Ear and Throat Surgeon
• Emergency Surgeon
• Endocrinologist
• Gastro-Intestinal Surgeon
• Gastroenterologist
• General Practitioner
• General Surgeon
• Gynaecologist
• Haematologist
• Hepatologist
• Immunologist
• Nephrologist
• Neuro Surgeon
• Neurologist
• Obstetrician
• Oncologist
• Ophthalmologist
• Optometrist
• Oral and Maxillofacial Surgeon
• Orthopaedic Surgeon
• Orthopaedic Registrars
• Otolaryngologist
• Paediatric Surgeon
• Pathologist
• Plastic Surgeon
• Psychiatrist
• Radiologist
• Reconstructive Surgeon
• Respiratory/Thoracic Surgeon
• Rheumatologist
• Surgeons
• Urologist
• Vascular Surgeon
• Veterinarian

Am I Still Eligible if I’m Not On the List?

If you are a medical professional but aren’t on the list of specialists, you can still qualify for 90% no LMI by proving that your specialisation is a well-recognised medical field. Feel free to speak with us to discover whether you are eligible for a home loan with no LMI.

What Conditions Should I Be Aware of When Applying for Home Loans?

Two major banks, Commonwealth Bank and ANZ, offer no LMI home loans for medical professionals with the following conditions:

Commonwealth Bank

• Maximum of 94.99% LVR no LMI per single property value up to $2,500,000
• Maximum of 89.99% LVR no LMI per single property value >$3,000,000 up to $3,500,000
• Maximum of 84.99% LVR no LMI per single property value >$3,500,000 up to $5,000,000

ANZ

• Maximum LVR of 90% with no LMI per single property value up to $4,000,000
• Maximum LVR of 95% with no LMI per single property value up to $4,000,000 if they are an existing ANZ client
• Maximum loan amount of $3,600,000 per single security of up to $4,000,000 value

Which Home Loan Features Can I Get With no LMI?

While medical professionals can waive their LMI for 90% LVR home loans, you can still enjoy all loan features and packages that best suit your needs. That includes:

• Fixed loan rate
• Variable-rate home loans
• Interest-only payment
• 100% home loan offset accounts
• Line of credit packages
• Split home loans

Reach out to us today to discover if you are eligible for a 90% LVR no LMI home loan. We’ll also take you through different loan rates and lenders to ensure you find one that best suit your needs.