LMI Waiver For Professionals

Navigating the home loan market can be challenging, especially when considering the additional costs associated with securing a mortgage. For many Australian professionals, there is a significant advantage available: the Lender's Mortgage Insurance (LMI) waiver. LMI is a one-off insurance premium that protects the lender in case the borrower defaults on their home loan. Typically, it is required for loans with a loan to value ratio (LVR) above 80%. However, certain professions may be eligible for an LMI waiver, potentially saving them thousands of dollars and making homeownership more accessible.

LMI waivers are a remarkable benefit offered by some lenders to professionals in fields such as medicine, accounting, and law. These waivers allow eligible borrowers to secure a home loan with an LVR of up to 95% without paying the LMI premium. This means that professionals in these fields can buy a property with a smaller deposit while avoiding the additional cost of LMI. The eligibility for this waiver is determined by specific registrations and qualifications, ensuring that the benefit is reserved for those in stable and highly regarded professions. For individuals in these fields, taking advantage of an LMI waiver can significantly reduce the upfront costs associated with purchasing a home, thereby enhancing their financial flexibility and investment opportunities.

Click here to speak to one of our mortgage broker experts today to assist you in understanding if you can receive these benefits.

Medical LMI Waiver
Are verified through the Australian Health Practitioner Regulation Agency (AHPRA) registration and some of these specific professions are:

• Medical Practitioner 

• Dentist 

• Specialist 

• Physiotherapist 

• Chiropractor 

• Optometrist 

• Vets

We have lender partners that can potentially consider 100%+ finance for certain medical professions. Please book a free no obligation consultation with one of our medical mortgage brokers experts 

Accountant and Lawyer LMI Waiver

Certain borrowers may be eligible for waived Lender's Mortgage Insurance (LMI) up to 90% LVR, offered by some lenders. Some of these specific professions are:

Legal professionals;

• Lawyers

• Solicitors

• Barristers

• Judges and magistrates

• Accounting professionals

• Chartered Accountants (CA)

• Certified Practicing Accountants (CPA)

• Chartered Financial Analysts Institute (CFA)

• Fellowship of the Institute of Actuaries Australia (FIAA)

• Also some global alliance certificates 

Please book a free no obligation consultation with one of our mortgage broker experts

How much you could save with LMI waivers

Property Value LMI Saved

• $500,000 saves $10,000

• $750,000 saves $19,000

• $900,000 saves $23,000

• $1,000,000 saves $25,000

Results are estimations for demonstrative purposes and actual LMI figures may vary

Find out if you qualify for an LMI waiver

You may be eligible for loan discounts and LMI waivers

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