Medical income can be complex — private billing, Medicare, hospital contracts, locum work, trust distributions, early career registrar income. Most lenders don't assess it well. We do. And we've been doing it since 2004.
General information only · Written and reviewed by Phil Riches, Director of Medical & Professional Lending · Last reviewed June 2026
Base salary, on-call and overtime, private billings, fee-split and contractor arrangements — recognised properly, these support far more than a standard payslip read. We match your registration tier and income mix to the lender whose policy gives you the strongest position, often with LMI waived to 90–95% LVR.
Check Your Borrowing Position →Many lenders treat medical professionals as lower-risk borrowers and apply policies the general public can't access — most visibly, waiving Lenders Mortgage Insurance (LMI) at higher LVRs for eligible borrowers. That can save a substantial sum. But the waiver is only the headline. The bigger lever is matching your income type, your specialty and your career stage to the lender whose policy actually recognises them. Two doctors with the same income can get very different answers depending on which lender they sit in front of.
In plain English: structure and lender choice usually matter more than the rate. That's the part most borrowers never see — and the part we do for you. The detail below is general information; your own position depends on your circumstances and the lender's assessment.
Yes — certain lenders will lend to medical professionals up to 90% LVR without Lenders Mortgage Insurance. That can save you tens of thousands. But the deeper advantage is structural. Getting the right lender for your income type, your career stage, and your future plans changes what you can do — not just now, but in five years when you want to add an investment property or buy your practice rooms.
Selected lenders may waive Lenders Mortgage Insurance for eligible medical professionals. We know which ones, what their criteria are, and how to prepare a strong application — approval remains subject to the lender's assessment.
Private billing, Medicare, hospital contracts, locum income, registrar pay, trust or company distributions — each lender assesses these differently. We match you to the right one for your situation.
Many medical professionals build significant property portfolios alongside their practice. We structure borrowing to maximise serviceability across multiple properties without limiting future capacity.
Your finance needs evolve as your career progresses. First home, investment property, practice buy-in, commercial rooms. We're the brokers clients come back to — and refer their colleagues to.
Lenders Mortgage Insurance normally applies when you borrow more than 80% of a property's value. It protects the lender, not you — and on a larger loan it can run into tens of thousands of dollars. For eligible medical professionals, certain lenders waive it entirely.
Lender policies vary. What you do within medicine matters — it affects which lenders apply professional policy advantages, and at what level. Registered doctors, specialists, dentists and GPs generally sit at the top tier; many lenders also recognise a wider group, though the level differs. We know where each profession sits across our panel of 50+ lenders.
For most medical lending concessions, the type of registration you hold matters as much as the profession itself. As a general guide across lenders:
This is general information — every lender writes its own policy, and the right answer depends on your registration, your income and the lender you apply to. Checking that fit before you apply is the part we handle.
Most of the value is in avoiding the quiet mistakes — the ones that cost options rather than getting an outright decline. The common ones:
Exact requirements vary by lender and by how you're paid, but most medical home-loan applications come together around the same core evidence:
Many lenders also like to see a track record in the profession. We tell you exactly what your chosen lender needs up front, so the file goes in clean.
Medical Finance Australia is the specialist medical lending division of Model Mortgages, led by Phil Riches and Virginia Graham Riches. Phil is a former senior lender at Westpac with 20+ years in residential, investment and commercial lending. Virginia founded Model Mortgages in 2004 with a background in banking, treasury and financial planning.
Most of our medical clients come through referrals from accountants, colleagues and existing clients. If someone pointed you here, you're in the right place.
Lender policy and income assessment differ by profession. Start with the page closest to your situation:
Top-tier LMI waivers, plus associate, contractor and practice-owner income read the right way.
Explore →Which lenders waive LMI for registered nurses and midwives, and how shift and penalty income is read.
Explore →Access professional policy and LMI waivers before specialist registration — often sooner than you think.
Explore →The lenders that extend professional concessions to vets, and how vet income and registration are recognised.
Explore →Registered doctors, specialists, dentists and GPs generally sit at the top tier. Many lenders also extend waivers to pharmacists, optometrists, vets and a range of allied health professionals — and some to registered nurses and midwives. The list and the level vary by lender, and what you do within medicine affects where you sit.
For most medical LMI-waiver policies, yes — generally with Generalist or Specialist registration. Provisional, Limited and Non-practising registration are usually not accepted, though some lenders make exceptions, for example a temporary absence such as parental leave. We check the specific policy before you apply.
It depends on the loan size and the LVR, but on a higher-LVR loan the saving can run into tens of thousands of dollars, because the premium isn't charged at all. We can show you the likely position for your scenario before you commit to anything.
Usually yes — most lenders require only that at least one borrower is an eligible medical professional. The specifics vary by lender.
Often yes, though options vary by lender. Registrar and early-career income is read differently to established specialist income, but several lenders apply professional policy advantages to early-career doctors. We assess your specific situation first.
That's exactly where our focus is. Each lender assesses complex medical income differently. Knowing which lender suits your structure — and how to present it — is the job.
Usually the latter — a standard home loan with professional concessions applied because of your profession, such as the LMI waiver and, with some lenders, pricing benefits. The work is matching you to the lender whose concessions and income policy fit your situation.