Specialist lending
Home Loans for Professionals
Some lenders waive lenders mortgage insurance for certain professions, which can save thousands and let you buy with a smaller deposit. Eligible professions, registration requirements and income thresholds vary by lender. We check where you fit.
Homestead is a mortgage broker, not a lender. Our service costs you nothing.
How it works
- 1
We confirm your profession, registration and income.
- 2
We compare lenders with LMI waivers for your profession and their limits.
- 3
We structure the loan to make the most of the waiver.
- 4
We arrange pre-approval and manage the loan to settlement.
Who it suits
- Medical professionals, including doctors, dentists and some allied health
- Lawyers and accountants with relevant registrations
- Other professions some lenders include, such as engineers
- Professionals buying their own home or an investment
What lenders look at
A guide only. Each lender sets its own criteria, and they change.
- Current registration or membership with your professional body
- Minimum income thresholds, which vary by lender
- Maximum loan sizes under the waiver
- Standard serviceability and credit checks
Frequently asked questions
It depends on the lender. Medical, legal and accounting professions are the most common, and some lenders include others. We check current lender policies for your role.
LMI can run into the tens of thousands on a larger loan with a small deposit. The saving depends on the loan size and deposit, and we work it out for you.