Medico Loans
Last updated: April 2026

Doctor Home Loan Australia — Borrow Up to 95% with No LMI

Most doctors don't know they qualify for LMI waivers up to 90–95% LVR. Whether you're a GP, registrar, specialist or dentist with HECS debt and a strong income, RyRo Loan Centre compares medico home loans from 50+ lenders and structures your application to get you approved. Based in Norwest, Sydney — helping medical professionals across NSW and Australia.

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Sumit - Director & Senior Loan Specialist

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Medico & Professional Home Loans

Why Medical Professionals Use a Specialist Broker for Their Home Loan

Doctors, dentists, and allied health professionals occupy a unique position in the home loan market. They earn strong, stable incomes — but early in their careers, they often have limited savings history, significant HECS debt, and demanding rosters that leave little time to navigate complex lender requirements. The irony is that despite excellent long-term financial profiles, they're frequently assessed like any other borrower by lenders who don't understand their situation.

A medico home loan — offered by a select group of lenders who recognise the risk profile of medical professionals — changes that. The headline benefit is the LMI waiver: the ability to borrow up to 90–95% of the property value without paying Lenders Mortgage Insurance. On a $1.2M property, that's a saving of $20,000–$40,000 or more. We work with doctors, registrars, GPs, specialists, dentists, and allied health professionals to access these products and structure loans that account for income type, HECS obligations, and career stage.

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The LMI Waiver Explained

What Is LMI — And Why Don't Doctors Have to Pay It?

Lenders Mortgage Insurance (LMI) is a premium charged to borrowers who borrow more than 80% of a property's value. It protects the lender (not you) in the event of default, and it's not cheap — on a $1,000,000 property purchased with a 10% deposit, LMI can add $20,000–$30,000 to your loan balance, on top of which you pay interest for the life of the loan.

Select lenders waive LMI for medical professionals because actuarial data consistently shows doctors have among the lowest mortgage default rates of any profession. A registrar earning $120,000 today will likely be earning $300,000+ within five years. Lenders who understand the medical career trajectory are willing to extend higher LVR borrowing without the LMI premium — treating the profession itself as the risk offset.

3things to understand about the LMI waiver
  1. 1

    Not all lenders offer it

    Only a subset of lenders on our panel — typically specialist and mid-tier banks — have formal medico home loan products with LMI waivers. The big four banks have limited or inconsistent policies. We compare every lender who offers it and find the one whose terms, rates, and eligibility criteria best suit your situation.

  2. 2

    LVR limits vary by lender and profession

    Most medico lenders waive LMI up to 90% LVR. Some extend to 95% LVRfor certain professions (typically AHPRA-registered medical practitioners). Allied health professionals may be capped at 90%. LVR limits also differ for owner-occupied vs investment properties. We know each lender's specific policy and match you accordingly.

  3. 3

    You still need to demonstrate serviceability

    The LMI waiver removes the deposit barrier but doesn't change serviceability requirements. The lender still needs to confirm you can comfortably afford repayments based on your income, existing debts, and living expenses. We help structure your application — including how HECS repayments, overtime, sessional, and locum income are calculated — to present the strongest case.

Key Benefits

What Medical Professionals Get With a Medico Home Loan

4key advantages
  1. 1

    No LMI up to 90–95% LVR

    The flagship benefit. A smaller deposit doesn't cost you $20,000–$40,000 in insurance premiums. You can enter the market sooner or preserve capital for other purposes — without the LMI penalty that applies to standard borrowers.

  2. 2

    HECS debt assessed more fairly

    Standard lenders treat HECS repayments as a fixed liability, reducing your borrowing capacity significantly. Medico-aware lenders take a more nuanced view — particularly for registrars and junior doctors where income growth is a reasonable expectation. We position your application to reflect your actual financial trajectory.

  3. 3

    Competitive interest rates

    Medico borrowers are low-risk borrowers. Beyond the LMI waiver, many lenders offer competitive variable and fixed rates to attract and retain medical professionals. We negotiate on your behalf to ensure you're not just getting the LMI waiver — you're getting the best available rate structure for your loan size and type.

  4. 4

    Income flexibility: locum, sessional, overtime

    Medical professionals often have variable income components — locum shifts, private practice earnings, after-hours loadings, or sessional work. Medico-specialist lenders understand these income types and can include a higher proportion of non-base income in serviceability calculations than standard lenders. This directly increases what you can borrow.

Who Qualifies

Which Medical Professions Qualify for a Medico Home Loan?

Eligibility is lender-specific, but the following professions are commonly covered. AHPRA registration is typically required for medical and allied health professions. Not every lender covers every profession below — we match you to the lender whose medico policy fits your specific registration.

Medical Practitioners

  • General Practitioners (GPs)
  • Registrars and Resident Medical Officers
  • Surgeons (all specialties)
  • Physicians and Specialists
  • Emergency Medicine specialists
  • Anaesthetists
  • Psychiatrists
  • Radiologists and Pathologists

Dentists & Dental Specialists

  • General Dentists
  • Orthodontists
  • Oral & Maxillofacial Surgeons
  • Periodontists
  • Endodontists
  • Dental Prosthetists

Allied Health Professionals

  • Pharmacists
  • Optometrists
  • Physiotherapists
  • Chiropractors
  • Veterinarians
  • Podiatrists and Podiatric Surgeons

Other Health Professions

  • Psychologists
  • Occupational Therapists
  • Speech Pathologists
  • Radiation Therapists
  • Osteopaths (AHPRA-registered)
  • Chinese Medicine practitioners

Not sure if your profession qualifies? Call us on 1300 11 7976 or leave your detailsand we'll confirm eligibility and the best lender options for your specific registration within one business day.

How It Works

How a Medico Home Loan Works Step by Step

Accessing a medico home loan isn't complicated — it just requires knowing which lenders to approach and how to position your application correctly. Here's the process:

5steps to approval
  1. 1

    Confirm eligibility and assess your position

    We start by confirming your profession, AHPRA registration, income type (salary, contract, locum, private), HECS balance, and existing commitments. This tells us which medico lenders suit you and gives an early indication of borrowing capacity.

  2. 2

    Match you to the right lender

    Not every medico lender is right for every doctor. We compare LMI waiver limits, interest rates, serviceability policies for your income type, and turnaround times. We recommend the lender who offers the best combination for your goals — not just the LMI waiver.

  3. 3

    Prepare and submit your application

    We prepare your full application, including AHPRA registration evidence, payslips or income documentation (including locum and sessional evidence), HECS statements, and any practice or business income information. Applications are submitted with a cover letter explaining your income structure to the credit assessor.

  4. 4

    Pre-approval and property search

    Once pre-approved, you have confidence about your budget and can make an offer on a property. Pre-approval is typically valid for 90 days and can be extended. Our team remains available during your property search to answer lender questions quickly.

  5. 5

    Formal approval and settlement

    Once you have a contract, we manage the formal approval process end-to-end — valuation, lender conditions, and settlement coordination through our settlement liaison Kathryn. You focus on your patients; we manage the paperwork.

By Specialty

Medico Home Loans by Profession — GP, Specialist, Registrar, Dentist, Pharmacist

While the LMI waiver is the headline benefit, the details differ by profession and career stage. Here is what each group should know.

General Practitioners (GPs)

GPs are among the most commonly assisted profession in our medico loan book. Whether you are a salaried GP, a GP working under a percentage-of-billings arrangement, or a practice owner, we structure your income evidence correctly. Salaried GPs have straightforward income documentation. Billings-based GPs require 2 years of income averaging. Practice owners need business financials in addition to personal income. LVR up to 90–95% with LMI waiver, depending on lender.

Specialists

Specialists — including surgeons, physicians, anaesthetists, psychiatrists, radiologists, and emergency medicine specialists — typically qualify for the highest LVR and most favourable serviceability assessments. Private practice income, hospital sessional fees, and VMO arrangements each have specific income documentation requirements. We have experience across every specialty and know which lenders handle complex income structures best.

Registrars and Junior Doctors

Registrars, RMOs, and PGY1–PGY3 doctors are a specialty in their own right in the medico loan market. They have the most to gain from LMI waivers — entering the market with limited deposit while HECS debt is still high — but face the most scrutiny from lenders unfamiliar with the medical career path. We understand registrar rosters, overtime loading, and HECS balances, and we submit to the lenders whose medico policy is most favourable for early-career doctors. Use our borrowing power calculator to get an early estimate.

Dentists and Dental Specialists

General dentists and dental specialists (orthodontists, oral surgeons, periodontists) qualify for LMI waivers at most specialist lenders. AHPRA registration is required. Associate dentists are assessed on salary or percentage-of-billings income. Dental practice owners require business financials. We also help dentists structure the right loan for practice purchase, using our specialist lending and business finance capabilities.

Pharmacists

Pharmacists — whether employed, locum, or pharmacy owners — qualify for medico home loans at select lenders. LMI waivers are typically available up to 90% LVR. Locum pharmacists with variable income require 12–24 months of income history to be assessed. Pharmacy owners need business financials. We know which lenders offer the most competitive medico terms for pharmacists and how to position your application for the best outcome.

Income Verification

How Lenders Verify Income for Medical Professionals

Income verification for medical professionals is more complex than for standard PAYG employees. Multiple income streams, variable work arrangements, and HECS obligations all need to be documented and presented correctly.

Salaried employment

  • 2 most recent payslips
  • Employment contract if less than 12 months tenure
  • Group certificate / income tax return

Locum and sessional income

  • 12–24 months of tax returns
  • BAS statements (if applicable)
  • Booking agency statements or ABN income records

Private practice / billings

  • 2 years business financials
  • Practice income statements
  • Accountant letter confirming income trend

HECS-HELP debt

  • ATO portal HECS balance printout
  • Income tax return showing HECS liability
  • Lender-specific HECS shading applies

We provide a tailored document checklist based on your specific income structure before you start. Use our borrowing power calculator for an early estimate, or book a free strategy call for a full assessment.

Sumit - Director & Senior Loan Specialist

“Most doctors don't realise how much the LMI waiver is actually worth. On a $1.2M purchase with a 10% deposit, you're looking at saving $25,000 or more. We make sure you access it.”

Sumit · Director & Senior Loan Specialist

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Why RyRo

Why Medical Professionals Choose RyRo Loan Centre

5reasons to work with us
  1. 1

    13+ years of specialist lending experience

    We have been helping clients with complex and specialist lending scenarios for over a decade. We know the medico lender landscape — who offers the best waiver, which lenders handle locum income well, and how to position applications that standard brokers present poorly.

  2. 2

    We compare 50+ lenders, not just one or two

    Major bank branches can only offer their own products. We access the full market — including specialist and non-bank lenders who carry the most competitive medico policies. You get the benefit of genuine comparison, not a single lender's pitch.

  3. 3

    We understand HECS, locum and sessional income

    Many brokers don't know how to properly document and present locum, after-hours, or sessional earnings. We do. We know which lenders shade income types generously and how to present complex income structures to credit assessors in a way that maximises your approved borrowing capacity.

  4. 4

    $0 broker fees

    Our service is free to you. We are paid by the lender on settlement. There are no upfront fees, no application charges, and no hidden costs at any stage of the process.

  5. 5

    340+ verified 5-star reviews

    Our clients speak for themselves. Over 340 verified five-star Google reviews from real borrowers across Sydney and Australia. Read them on our Reviews page or check Google directly.

Your Process

What Happens From Enquiry to Settlement

01

Free strategy call

We discuss your profession, income, goals, property type and timeline. No credit check. No obligation. You leave with a clear picture of your borrowing capacity and which lenders suit you.

02

Lender selection and application

We prepare your full application — gathering income evidence, HECS statements, AHPRA registration, and any other documentation. We prepare a cover note to the credit assessor explaining your income structure.

03

Pre-approval

You receive a conditional pre-approval, giving you confidence to search for and make offers on property within your approved limit. Valid for 90 days, extendable.

04

Formal approval and settlement

Once you're under contract, we manage valuation, lender conditions, and coordinate settlement with your solicitor. Kathryn, our settlement liaison, keeps you updated every step of the way.

FAQs

Medico Home Loan FAQs

What is a medico home loan?
A medico home loan (also called a doctor home loan or professional home loan) is a specialist mortgage product offered by select lenders specifically for medical professionals. The defining feature is an LMI waiver: eligible doctors, dentists, and allied health professionals can borrow up to 90–95% LVR without paying Lenders Mortgage Insurance — saving $15,000–$40,000+ on a typical purchase. Medico loans recognise that medical professionals have strong, stable career income trajectories even if their current savings are limited due to years of study or HECS debt.
Can doctors get home loans without LMI?
Yes. A select group of lenders offer full LMI waivers for eligible medical professionals borrowing up to 90% LVR, and some extend this to 95% LVR. Normally, any borrower with less than a 20% deposit must pay LMI — a one-off premium that typically costs $10,000–$30,000+ and is capitalised into the loan. Lenders waive this for doctors because actuarial data consistently shows medical professionals have among the lowest mortgage default rates of any profession. Eligibility criteria vary by lender — profession type, AHPRA registration, LVR, and loan purpose all matter.
Which lenders offer doctor home loans in Australia?
Not all lenders offer medico home loan products. The major banks have inconsistent and often limited medico policies. The strongest LMI waiver conditions — particularly at 90–95% LVR — are typically available from specialist and mid-tier lenders on our panel. We compare every lender who offers a medico product and match you to the one whose LVR limit, interest rate, and serviceability policy best suits your profession, income type, and goals. We do not recommend lenders based on commission rates — we recommend based on what is right for your situation.
Do registrars qualify for medico home loans?
Yes. Registrars, resident medical officers (RMOs), and intern doctors regularly qualify for medico home loans, including LMI waivers. Lenders who understand the medical career trajectory know that a registrar earning $120,000–$150,000 today will likely be earning $250,000–$400,000+ within a few years. The challenge for registrars is often income documentation — contract vs salary, overtime, and HECS debt — rather than eligibility itself. We prepare applications that present the registrar's full income picture correctly, which is the difference between a good outcome and a knocked-back application.
How is HECS debt treated for doctor home loans?
Under standard serviceability rules, HECS-HELP repayments are treated as a compulsory liability, reducing your borrowing capacity. For a doctor with $100,000 in HECS debt earning $200,000, the ATO-mandated repayment rate (around 10%) represents $20,000 per year — which standard lenders subtract directly from your income. Medico-specialist lenders take a more nuanced view, particularly for registrars and early-career doctors where the HECS balance relative to income trajectory is favourable. We know which lenders shade this most generously and how to position HECS in your application to minimise its impact on borrowing capacity.
Can dentists get medico home loans?
Yes. Dentists and dental specialists — including orthodontists, oral surgeons, periodontists, and endodontists — are eligible for medico home loans at most specialist lenders. General dentists with AHPRA registration typically qualify for LMI waivers up to 90% LVR. Dental specialists may qualify up to 95% with certain lenders. Whether you are an associate, practice owner, or locum dentist, the income structure (salary vs practice drawings) affects how the application is presented. We have experience structuring applications for dentists across employment types.
What LVR can doctors borrow at with no LMI?
Most medico lenders offer LMI waivers up to 90% LVR. A subset of lenders on our panel extend this to 95% LVR for AHPRA-registered medical practitioners (doctors, specialists). Allied health professionals — pharmacists, physiotherapists, chiropractors, and others — are typically capped at 90% LVR for the LMI waiver. Investment properties may carry a lower LVR cap than owner-occupied purchases. The exact LVR available depends on your profession, the lender's current policy, and loan purpose — which is exactly why matching you to the right lender from the start matters.
Do I need to be a specialist to qualify for a doctor home loan?
No. General Practitioners, registrars, RMOs, interns, and allied health professionals all qualify — you do not need to be a specialist. The eligibility threshold is AHPRA registration (for medical and allied health) or equivalent registration for dentists and pharmacists. The main difference between GPs and specialists in the medico loan context is borrowing capacity (specialists typically earn more) and sometimes the maximum LVR available. A registrar in their first year can qualify for an LMI waiver just as a senior specialist can. Call us to confirm your eligibility based on your specific profession and registration.
Have a question not covered here? View all FAQs or ask us directly.
RyRo Loan Centre

Ready to Access Your Medico Home Loan?

Join 2,000+ Australians who've trusted RyRo Loan Centre. No LMI. $0 fees. Expert medico loan advice.

Sumit - Director & Senior Loan Specialist

“Most doctors qualify for LMI waivers they don't know about. Let's work out exactly what you can borrow and which lender is right for your situation.”

Sumit · Director & Senior Loan Specialist

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