We work closely with clients as trusted advisors and are accessible to clients when needed. Our brokers work hard at understanding our client’s unique circumstances and helping them overcome common home loan challenges.
Whether you’re a first home buyer or an experienced investor, we’ll help you find the best home loan for your situation. Self-employed and having trouble proving your income? Maybe you’re a contractor or casual worker? Whatever your situation, we offer solutions for all types of clients’ income sources.
What Are Home Loans For Doctors?
Break Free Home Loans can help you make the most of your benefits as a doctor or medical professional. From taking into account income from shift work to understanding the nature of your work, we can help you find a home loan that meets your needs.

Benefits Of Home Loans For Medical Professionals
Some of the benefits you can expect include:

Lower Rates
Home loans for medical professionals typically offer lower interest rates than those available to the general public, making them a great choice for anyone looking to secure competitive financing.Fixed interest rates have lower starting points, variable interest rates start lower and are more flexible, and there is also more freedom and better terms available when refinancing.

Lower Deposit
A lower upfront deposit is often required when taking out a home loan as a medical professional. This is because lenders view doctors and other medical professionals as low-risk borrowers, giving them access to more favourable financing options.Many lenders will allow medical professionals to borrow up to $4.5 million, of which you can borrow up to 95% or even 100% of that value, with no Lenders Mortgage Insurance. Of course, the more you wish to borrow, the stricter the lending criteria become.

Special Discounts
Medical professionals are eligible for reduced interest rates and home loan fee exemptions not available to the general public.There are also additional discounts you may be eligible for depending on the type of loan, your circumstances, and the lender. If you’re looking for the best possible deal, our brokers will compare home loans from many different lenders to find the one that’s best for you.
About LMI Waiver
As a doctor, you’re eligible for an LMI waiver, allowing you to borrow up to the full amount of your home loan (in some circumstances) without needing to pay LMI.
Doctors Eligible For A Discount
Not all doctors are eligible for an LMI waiver. To qualify for waived LMI, you must be a preferred medical professional and be a member of a relevant industry organisation.There are a number of other criteria you may have to meet, however these will vary from lender to lender. Additionally, most lenders will not waive LMI if you’re borrowing more than $1 million – $1.5 million without a guarantor.
How Much You Can Save
For example, if you’re borrowing 90% on a $1m property, with an example LMI of 2.3% you can expect to be paying 23,000 in LMI.
As a doctor, this fee is waived completely, potentially saving you tens of thousands of dollars.
What Happens When The Construction Period Ends
Requirements To Get Approved For A Doctor
Home Loan In Australia
- You must be a preferred medical professional
- You must be a member of a relevant industry organisation

Eligible professions:
- Anesthesiologist
- Anaesthetist
- Audiologist
- Cardiologist
- Cardiothoracic Surgeon
- Chiropractor
- Sports chiropractor
- Animal chiropractor
- Clinical Pharmacologist
- Cosmetic Surgeon
- Dental Specialist
- Dentist
- Dermatologist
- Doctor
- Ear and Throat Surgeon
- Epidemiologist
- Emergency Doctor
- Emergency Medicine Specialist
- Emergency Surgeon
- Endocrinologist
- Gastro Intestinal Surgeon (Upper/Lower)
- Gastroenterologist
- General Practitioner (GP)
- GP Registrar
- General Surgeon
- Gynaecologist
- Haematologist
- Heart Doctor
- Heart Surgeon
- Hepatologist
- Herpetologist
- House Medical Officer (HMO/residency)
- Hospital-employed doctors
- Intern doctor (internship)
- Immunologist
- Junior Medical Officer (JMO/residency)
- Kinesiologist
- Maxillofacial Surgeon
- Medical Administrator
- Medical Practitioner
- Medical Registrar
- Nephrologist
- Neurosurgeon
- Neurologist
- Neurophysiologist
- Obstetrician
- Occuptaional Therapist
- Oncologist
- Ophthalmologist
- Optometrist
- Oral and Maxillofacial Surgeon
- Oral Surgeon
- Orthodontists
- Orthopaedic Surgeon
- Orthopaedic Registrar
- Osteopath
- Otolaryngologist
- Paediatric Surgeon (Neonatal/Perinatal)
- Paediatrician
- Paediatric Surgeon (Neonatal/perinatal)
- Pathologist
- Physiotherapist
- Pharmacist
- Clinical Pharmacy Specialist
- Academic Pharmacist
- Community Pharmacist
- Compounding Pharmacist
- Consultant Pharmacist
- Drug Information Pharmacist
- Home Health Pharmacist
- Hospital Pharmacist
- Industrial Pharmacist
- Informatics Pharmacist
- Locum Pharmacist
- Managed Care Pharmacist
- Military Pharmacist
- Nuclear Pharmacist
- Oncology Pharmacist
- Pharmacist Clinical Pathologist
- Pharmacist Clinical Toxicologist
- Regulatory-Affairs Pharmacist
- Pharmacist prescriber
- Veterinary Pharmacist
- Physician
- Plastic Surgeon
- Podiatrist
- Psychiatrist
- Psychologist
- Radiographer
- Radiologist
- Radiation Oncologist
- Resident doctor (residency)
- Reconstructive Surgeon
- Resident Medical Officer (RMO/residency)
- Respiratory Surgeon
- Respiratory/Thoracic Surgeon
- Rheumatologist
- Sonographer
- Speech Pathologist
- Specialist Physician
- Surgeon
- Surgical Registrar
- Thoracic Surgeon
- Urologist
- Vascular Surgeon
- Veterinarian
Eligible associations:
- Australian Association of Practice Managers
- Australian College of Rural and Remote Medicine (ACRRM)
- Australian Dental Association (ADA)
- Australian Dental Council (ADC)
- Australian Medical Association (AMA)
- Australian Medical Council (AMC)
- Australian Veterinary Business Association
- Australian Veterinary Association
- Australasian College for Emergency Medicine (ACEM)
- Australasian College of Cosmetic Surgery (ACCS)
- Australasian College of Dermatologists (ACD)
- College of Intensive Care Medicine of Australia and New Zealand (CICM)
- Medical Practitioners Board of Australia
- Royal Australasian College of Dental Surgeons (RACDS)
- Royal Australasian College of Medical Administrators (RACMA)
- Royal Australian and New Zealand College of Obstetricians and Gynaecologists (RANZCOG)
- Royal Australian and New Zealand College of Ophthalmologists (RANZCO)
- Royal Australasian College of Surgeons (RACS)
- Royal Australasian College of Physicians (RACP)
- Royal College of Pathologists of Australasia (RCPA)
- Royal Australian and New Zealand College of Psychiatrists (RANZCP)
- Optometrists Association Australia
- The Australia and New Zealand College of Anaesthetists (ANZCA)
- The Royal Australian College of General Practitioners (RACGP)
- The Royal Australian and New Zealand College of Radiologists (RANZCR)
- Urological Society of Australia and New Zealand (USANZ)
- Other associations on a case by case basis

Income
As a medical professional, most lenders won’t require you to meet any minimum income levels for a basic home loan. Your income also won’t affect your eligibility for things like LMI waivers and lower interest rates.

Credit History
You will need to have a good credit history to be eligible for many of the loans available. Simply having a significant and secure income isn’t an indicator of being able to pay back a loan. Lenders will be looking at every part of your financial ability to determine whether they should lend to you or not.

Savings/Property
In some cases, you may be able to borrow against home equity or investment property to secure a larger loan. Your savings may also play a part in your eligibility and may affect the terms of the loan.

How To Choose A Doctor Home Loans Lender
You need to be comfortable with the company or person providing the loan, as you’re going to have to be accountable to them over the course of the loan. Here are some questions you should ask when choosing a home loan lender:
- Is the lender recommended by others and well rated?
- Are the terms being offered “too good to be true”?
- Are they offering all the terms you need to get the most out of a loan?
Best Home Loans For Doctors In Melbourne
Still Got Questions? Give Us a Call

Frequently Asked Questions
If you’ve got more questions, we’ve got more answers. You’ll find answers to some of the most common questions below. If you can’t find the answer there, reach out to us! Our team is available to help you and will be more than happy to answer any questions you have.
What Is A Home Loan For Doctors?
How Much Can Doctors Borrow For A Home Loan?
Most lenders will allow doctors to borrow up to 80-100% of the value of a property, depending on your individual circumstances. This is usually up to a maximum of $1 million, however, some lenders will lend up to $1.5 million or even $4.5 million, depending on personal factors and the terms of the loan.
Getting a specific answer to this question will depend on a number of factors, including your income, your debts, and your credit history. We can help you figure out how much you may be able to borrow based on your unique circumstances.
How To Get Approved For A Home Loan For Doctors?
Getting approved for a doctor’s home loan is simple. First, you’ll need to provide proof of your income, including details of any other loans or mortgages that you currently have. You will also need to show evidence of your savings and assets, as well as a detailed breakdown of your expenses and debts.
Then, once you’ve proven you’re eligible, your chances of getting approved will be as high as possible. It’s then up to you to compare offers from lenders and choose the mortgage structure that best meets your needs.
Break Free Home Loans are specialists in home loans for doctors. We understand the unique financial situation of medical professionals and can help you find a mortgage that meets your needs. Contact us today to learn more about our services or apply online now.
What are the conditions for eligibility?
Where can I learn more about doctors' home loans?
At Break Free Home Loans, we understand the unique needs of medical professionals when it comes to mortgages. As a leading mortgage broker for doctors, our brokers have years of experience helping doctors find mortgages that work for their specific financial situations.
Whether you are looking for a home loan with lower monthly payments or one with less stringent repayment requirements, we can compare hundreds of loan options to find the one that works for you. Discuss your needs with our team today for more information on finding the best doctor home loan Australia.
Contact our team
We love to hear from each and every one of you. Please feel free to reach out to us today!