Home loans for doctors offer significant benefits, recognising your profession's substantial commitment and reliability. Lenders acknowledge the lower risk of lending to doctors, due to their stable and high-income potential, which can lead to more attractive loan options.
Doctors have several advantages when it comes to securing home loans. These key benefits include:
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Fill out some basic details in our simple online form.
Discuss your outlines and objectives with a Home Lending Specialist
Run through the products you are eligible for. Compare and contrast what suits you best.
Once satisfied with the approval after your Home Loan review, sign your documents online with our simplified process.
Your current loan will be paid out, and your new loan will commence.
Fill out some basic details in our simple online form.
Discuss your outlines and objectives with a Home Lending Specialist
Run through the products you are eligible for. Compare and contrast what suits you best.
Once satisfied with the approval after your Home Loan review, sign your documents online with our simplified process.
Your current loan will be paid out, and your new loan will commence.
Fill out some basic details in our simple online form.
Discuss your outlines and objectives with a Home Lending Specialist
Run through the products you are eligible for. Compare and contrast what suits you best.
Once satisfied with the approval after your Home Loan review, sign your documents online with our simplified process.
Your current loan will be paid out, and your new loan will commence.
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Healthcare home loans (often called “medico home loans”) are specialised mortgage loans designed for medical professionals. They offer significant benefits like waived/reduced Lenders Mortgage Insurance (LMI) even with deposits as low as 5-10%, discounted interest rates, and more flexible income assessment. Lenders offer these because doctors are considered low-risk borrowers with stable, high earning potential.
In most cases, no! This is a big advantage. While standard borrowers typically pay LMI if their deposit is less than 20%, many lenders offer LMI waivers or reductions for eligible doctors. This can save you tens of thousands of dollars and allow you to buy sooner with a smaller deposit.
Thanks to LMI waivers or reductions, you can often secure a home loan with a deposit as low as 5% or 10% of the property’s value. This is significantly less than the standard 20% required for most borrowers to avoid LMI. You’ll still need funds for stamp duty and other purchase costs.
Yes, absolutely! While the income assessment might differ (e.g., requiring two years of tax returns or financials instead of payslips), many lenders extend these favourable terms to self-employed doctors, specialists, and practice owners.
Often, yes. Beyond the LMI waiver or reductions, many lenders on our panel of 50-plus offer competitive interest rate discounts to doctors as a further incentive to attract your business. These rates can be noticeably lower than standard market rates.
