Medico Home Loans
Discover Medico Home Loan offerings exclusive to Medical Doctors and Specialists, Dentists, Nurses and Allied Health. Medico Mortgage Broker for the Healthcare Sector and access to exclusive lending options and offers (based on each lenders’ eligibility).
Why Healthcare Professionals choose Medico Home Loans?
Healthcare sector home loan offers for Medical Doctors and Specialists, Dentists, Nurses and Allied Health
Save Thousands on LMI
Eligible professionals can borrow up to 95% LVR without paying Lenders Mortgage Insurance (LMI), saving $15,000+ on typical purchases!
Enhanced Borrowing Power
100% of your overtime and allowances counted! We recognise your essential services role means regular, ongoing additional income.
Fast-Track for Self-Employed
Self-employed doctors and specialists: skip the lengthy trading history requirements with select lenders. Get approved faster!
Expert Industry Knowledge
We specialise in healthcare professional loans. We know which lenders offer the best terms for YOUR specific profession and circumstances.
Construction & Investment Options
Building your dream home or investing? Access construction loans up to 95% LVR and investment property options tailored to professionals.
Construction & Investment Options
First home buyer? Family equity can help you enter the market faster with streamlined guarantee arrangements.
Who Qualifies for a Medical Home Loan?
Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Suspendisse et justo. Praesent mattis commodo augue.
Other Allied Health
Chiropractors, Occupational Therapists, Podiatrists, Radiographers
Standard Home Loan vs. Healthcare Professional Loan
| Feature | Non-Medico | Healthcare Professional Loans |
|---|---|---|
|
Maximum LVR without LMI |
80% |
90-95% |
|
LMI Cost (on $500k @ 90% LVR) |
~$15,000+ |
$0 |
|
Overtime/Allowances Counted |
50-80% |
100% |
|
Self-Employed Requirements |
18-24 months ABN |
Waived for eligible doctors |
|
Salary Sacrifice Recognition |
Limited |
Up to 100% counted |
|
Maximum Loan Amount |
Standard limits |
Up to $7.5M+ for specialists |
Your Path to Home Ownership
Free Assessment
We review your profession, income, and goals to identify the best lender options for you.
Gather Documents
AHPRA registration, recent payslips, and tax documents. We guide you through exactly what's needed.
Optimise Your Application
We structure your application to maximise borrowing power and minimise costs with the right lender.
Approval & Settlement
We manage the entire process from application to settlement, keeping you informed every step of the way.
Meet Our Team
Guiding your home loan journey with 20+ years of experience
Sana Hosseini
Medico Mortgage Broker
Sana Hosseini is an Elite Mortgage Broker, serving on the board of the Mortgage Finance Association of Australia. Recognised for his two decades in Medico home loans. Based in South Yarra, his background as a Tax Accountant gives him a unique edge in expertly guiding medical professionals and self-employed clients, ensuring their financial structures are optimised for the best home loan outcome.
Bruna Andrews
Medico Mortgage Broker
Bruna Andrews can assist you with residential home loans, investment loans, family guarantee home loans, mortgage refinance and commercial loans. Bruna finds it particularly exciting dealing with Medico first home buyers and helping them navigate the property market for the first time. The right mortgage structure set out to your advantage and access to a leading panel of lenders.
James Safajou
Medico Mortgage Broker
Ranked number 7 in the country, in the country among Aussie store mortgage brokers. As a mortgage broker and Justice of the Peace for the Northern Rivers, James Safajou provides trusted, confidential service. A Byron Bay local, he excels at analysing complex financial documents to maximise your borrowing power, making the home loan process straightforward, stress-free, and convenient for you.
Your Guide to Home Loans for Healthcare Professionals
If you work in healthcare, your skills and dedication are highly valued, not only by your patients but also by many Australian lenders. Because of the stability and importance of your profession, you may qualify for home loan benefits that are not available to everyone.
This guide explains some of the key advantages available to eligible healthcare professionals and shows how they can make buying a home easier and more affordable.
One of the Biggest Benefits: Avoiding Lenders Mortgage Insurance (LMI)
One of the most valuable benefits available to many healthcare professionals is an Lenders Mortgage Insurance (LMI) waiver.
Normally, if you borrow more than 80% of a property’s value, you must pay LMI, which can cost thousands of dollars. However, eligible healthcare professionals may be able to borrow a higher percentage without paying this extra cost.
Below is how some major lenders classify eligible professions for LMI waivers.
| Eligible Profession Group | Lenders Offering Waivers | Maximum LVR without LMI (Owner-Occupied P&I) | Key Features & Constraints |
|---|---|---|---|
|
Group 1: Medical Specialists (e.g., Doctors, Dentists, Surgeons, Specialists) |
ANZ, Bankwest, CBA, HSBC, St. George, Westpac, Suncorp Bank |
Up to 95% (ANZ, CBA, St. George, Westpac) |
High maximum loan limits (e.g., up to $7.5M TBE at St.George/Westpac). ANZ and CBA may waive the 18-month ABN registration rule for self-employed doctors/specialists for non-LMI loans. HSBC offers up to 90% LVR without LMI, restricted to 80% if your Debt-to-Income (DTI) is over 6.0. |
|
Group 2: Allied Health & Veterinarians (e.g., Physiotherapists, Optometrists, Vets, Pharmacists, Chiropractors, Psychologists) |
ANZ, St. George, Westpac |
Up to 90% (ANZ, St. George, Westpac) |
These professions often qualify for high LVR lending, although usually capped at 90% LVR without LMI, sometimes requiring a minimum income threshold (e.g., $125k for certain Group B professions at St.George/Westpac) |
A Note on Nurses and Allied Health: While professionals like Nurses, Midwives, Occupational Therapists, Podiatrists, and Radiographers are unfortunately listed as ineligible for the top-tier LMI waivers by ANZ, CBA, and Bankwest, they often fall under other valuable “Essential Services” policies detailed on here!
Important Lending Criteria Highlights for LMI Waivers
- Registration is Key: Eligibility often requires active registration with the Australian Health Practitioner Regulation Agency (AHPRA) or the relevant veterinary board.
- Repayment Type: Most LMI waivers generally require the loan to be Principal and Interest (P&I) repayments.
- Loan Purpose/Security: Some waivers (e.g., CBA’s Professionals Offer) specifically exclude land and/or construction loans. Construction loans and vacant land are also excluded from HSBC’s Medico policy. However, Bankwest’s LMI waiver can be used for refinance, purchase, construction, or renovation of investment or owner-occupied property.
Increase Your Borrowing Power Through Income Assessment
Beyond LMI waivers, your role in essential services often leads to more flexible income assessment policies, helping you qualify for a larger loan than a general consumer might.
Overtime, Allowances, and Essential Services
If you are a nurse, paramedic, firefighter, police officer, or doctor, your income capacity is often boosted due to “Essential Services” policies.
- 100% Overtime & Allowances: Lenders like Bankwest, Suncorp Bank, and Great Southern Bank recognise that overtime is often regular and ongoing in the Health Care and Emergency Services industries. These lenders will use 100% of your verifiable overtime and allowances in their serviceability assessment, compared to the general rule where usage might be shaded or capped.
- Casual Income Stability: If you are a casual employee in the Health Care or Emergency Services industry, Bankwest is more flexible, needing only a minimum of three months’ employment history for your application
Self-Employed Advantages
If you are a self-employed professional, particularly a doctor, specialist, or dentist (verified via AHPRA), some lenders exempt you from the standard lengthy trading history requirements (often 18 months or 2 years ABN registration) for non-LMI loans. This exemption applies at ANZ, meaning you may proceed with standard income verification despite a shorter self-employment period.
Salary Sacrifice
If your employment is in public health, social work, or charity work, and you benefit from salary sacrifice arrangements, Macquarie allows up to 100% of the salary sacrifice ‘tax free’ arrangement to be used for servicing, provided confirmation is supplied that the amount is convertible to gross taxable income and is provided regularly.
Beyond the Standard Home Loan
- Construction Loans: Available for building or renovating, although often excluded from LMI waivers. WLTH offers up to 95% LVR for owner-occupied construction loans (P&I).
- Family Guarantee/Pledge: Allows family members to offer equity in their property as security to help you avoid LMI and borrow the full purchase price. BOQ’s Family Guarantee is specifically introduced to help First Home Buyers enter into a guarantee arrangement with less lengthy documentation.
- Debt Consolidation & Cash Out: Generally acceptable across multiple lenders. Note that Bankwest’s Medical Professional LMI waiver excludes using the loan for family support guarantees.
Your Next Steps
- Gather Professional Evidence: Have your AHPRA registration details, or relevant professional board membership readily available to verify your eligibility for professional packages.
- Verify Income Documentation: Collect recent payslips and tax documents. If relying on overtime or allowances, ensure documentation evidences regularity over the required minimum period (often 3 to 6 months).
- Seek Tailored Advice: Lenders’ specific eligibility criteria and maximum LVRs vary significantly, especially for nurses and allied health professionals. Discussing your unique income structure (like tax-free salary sacrifice or essential overtime) with a BDM or expert broker is highly recommended to maximise your benefits.
Ready to Save Thousands?
Let’s discuss how your healthcare profession can unlock exclusive home loan benefits.
Consultations are free and obligation-free. We work with Australia’s leading lenders to find the best solution for YOU.