Home Loans for Medical Professionals

Medical Professional = Low Risk

Medical professionals are considered low risk borrowers by lenders and are therefore in a unique position to get exclusive offers that are not available to other members of the public.

These offers include:

Significant interest rate discounts
Lenders Mortgage Insurance waivers (borrowing up to 90% without paying LMI)
Fee waivers
Higher LVRs (borrowing up to 105% of property value with a guarantor loan)
Higher maximum borrowing amount

Medico varies from bank to bank so the type of discount will depend on the bank.

Types of medical professionals that are eligible:

Anaesthesiologist
Anaesthetist
Cardiologist
Chiropractor
Clinical Pharmacologist
Cosmetic Surgeon
Dentist
Dermatologist
Doctor
Ear, Nose and Throat Surgeon
Endocrinologist
Gastroenterologist
General Practitioner (GP)
Gynaecologist
Intern doctor (internship)
Neurosurgeon
Obstetrician
Optometrist
Pharmacist
Psychiatrist
Veterinarian

Interns, residents, registrars and staff specialists are all eligible.

You must also be a member of an Australian or New Zealand medical association in order to be eligible.

Types of medical professionals that are not eligible:

Medico is not available to some medical professionals such as psychologists, medical research scientists and naturopaths.

However, there may still be a reduced interest rate available to ineligible medical professionals who have a strong employment history and substantial savings.