No LMI Home Loans for Doctors to 90% LVR

Home Loans for Doctors and other medical practitioners are now available to 90% LVR WITHOUT the requirement to pay lenders mortgage insurance. Lenders mortgage insurance can cost many many thousands of dollars depending on the purchase price so this a great news for those that are in one of the professions highlighted below.

How Much Deposit Do I Need to Qualify for the No LMI Policy?

Eligible doctors of medicine will require a 10% deposit plus costs like stamp duty and legals. The first home owners grant can be used as part of this deposit.

What Professions are Eligible for the LMI Waiver?

1. Anesthetist
2. Cardio Thoracic Surgeon
3. Cardiologist
4. Clinical Pharmacologist
5. Cosmetic Surgeon
6. Dentist
7. Dermatologist
8. Ear and Throat Surgeon
9. Emergency Surgeon
10. Endocrinologist
11. Gastro Intestinal Surgeon (Upper/Lower)
12. Gastroenterologist
13. General Practitioner
14. General Surgeon
15. Gynaecologist
16. Haematologist
17. Hepatologist
18. Immunologist
19. Nephrologist
20. Neuro Surgeon
21. Neurologist
22. Obstetrician
23. Oncologist
24. Opthalmologist
25. Optometrist
26. Oral and Maxillofacial Surgeon
27. Orthopaedic Surgeon
28. Otolaryngologist
29. Paediatric Surgeon (Neonatal/Perinatal)
30. Pathologist
31. Plastic Surgeon
32. Psychiatrist
33. Radiologist
34. Reconstructive Surgeon
35. Respiratory/Thoracic Surgeon
36. Rheumatologist
37. Surgeons
38. Urologist
39. Vascular Surgeon
40. Veterinarian

Why are Doctors Eligible for a Home Loan to 90% LVR without Lenders Mortgage Insurance?

Doctors and medical practitioners are seen to be very low risk by the banks. As such, the risk of default on the mortgage is considered low so the requirement to pay the lenders mortgage insurance premium is waived.

More information on Doctor Home Loans with No LMI here.