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Doctors may be eligible to purchase property with up to 95% borrowing and no Lenders Mortgage Insurance (LMI) when their home loan is structured correctly.
Many medical professionals are unaware that lenders offer specialised policies designed specifically for doctors. These policies can recognise the unique income structure and career progression of medical professionals.
When assessed under these policies, doctors may access:
Depending on the purchase price, LMI savings alone can exceed $80,000 when assessed under medical-specific lending policies.
Led by medical lending specialist Peter Bassilios (15+ years experience), Money Tree Mortgage Brokers helps doctors structure home loans that recognise their profession and future income potential.
Medical professionals are considered lower-risk borrowers by many lenders due to:
As a result, several lenders offer doctor-specific lending policies that are not always advertised publicly. However, these benefits are only available when the loan is structured correctly and submitted to lenders that recognise medical professional policies.
No Lenders Mortgage Insurance up to 95% LVR
Most borrowers purchasing with less than a 20% deposit must pay Lenders Mortgage Insurance.
For doctors, some lenders waive LMI entirely.
Example estimates:
Avoiding LMI can allow doctors to buy property sooner while preserving savings.
Higher Borrowing Capacity
Some lenders recognise that medical professionals typically experience significant income growth during their career.
As a result, lenders may assess borrowing capacity differently for:
Flexible Income Recognition
Medical lending policies may allow lenders to recognise:
Despite these advantages, many doctors are still assessed incorrectly.
Common issues include:
Working with a mortgage broker experienced in medical lending ensures the loan is assessed under the correct policy.
Book a free, no-obligation consultation to explore your options.
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