What you need to know
Understand how professional LMI waivers work before comparing lenders
Standard Home Loan
- LMI if borrowing more than 80% of property value
- LMI may cost you up to tens of thousands of dollars
- More time required to save to avoid LMI
- Not designed for professionals
Professional Package Loan
- No LMI up to 90% or 95% LVR
- Save up to tens of thousands of dollars in LMI premiums
- Enter the market sooner with a lower deposit
- Available to recognised professionals
Why do lenders do this? Banks recognise that certain professionals have stable incomes, low default rates, and strong career prospects. They're willing to lend more without lenders mortgage insurance because you're considered lower risk.
Lender policies, LVR limits, eligibility criteria and offers are subject to change without notice. Use this page as a general guide only and confirm every detail with your broker or lender before applying.
Policy variance between lenders is common, and your individual circumstances (income, registration, property type) can affect eligibility.
Lender comparison
Scan the current lender mix for each profession category
Medical Professionals
Doctors, GPs, Medical Specialists, Dentists
Allied Health
Physios, Psychologists, Vets, Pharmacists & more
Legal & Accounting
Lawyers, Accountants, Actuaries, Auditors
Your Profession Not Listed?
Nurses, Midwives, Police Officers, Paramedics, Firefighters, Teachers, engineers, IT professionals, and many other professions may be eligible for LMI waivers. Contact us today to find your tailored solution.
The professions above represent the most common LMI waiver categories, but lender policies vary and individual circumstances matter.
Individual assessment: Not everyone fits neatly into standard categories. Your specific qualifications, income, employment history and deposit may open up options not shown on this page.
First-time buyer considerations: Some lenders have additional flexibility for first-home buyers with strong financial profiles, even if they're not in traditional professional categories.
Policy variations: Different lenders assess professions differently. We can review your situation against multiple lending criteria to see if there's a fit.
If your profession isn't listed, or you're not sure if you qualify, book a consultation and we'll assess what's possible for your specific circumstances.
Book Free ConsultationEstimate your LMI savings
Use this quick calculator to visualise the difference between paying LMI and using a professional waiver before you dive into lender policies.