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No LMI Home Loans for Doctors to 90% LVR

Sep 6, 2011 by Craig Vaughan

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.

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