Home loan advantages for medical professionals


Some banks are offering recently graduated medical professionals and doctors home loans with a loan to value ratio (LVR) of 90 per cent.

To sweeten the deal they are also offering the loans free of lender’s mortgage insurance (LMI). 

The deal compares to normal LVR requirements of 80 per cent for home loans, and is based on the idea those in the medical profession have solid prospects to service loans.

Medical professionals that might qualify for these loans include doctors, dentists, chiropractors, veterinarians, optometrists, osteopaths, surgeons, physiotherapists and psychologists.

Banks basically have a list of preferred borrowers in terms of profession, and doctors are essentially at the top of that list. 

It may sound unfair but it is based on default rate figures for professions so can be justified as more than just bias from the banks. 

Not only do medical professionals very rarely default on their loans, they usually have fast-growing income as their career progresses and will often come back to the bank for further loans for investment properties down the track. 

For this reason, those in the medical profession can get some amazing home loan deals.


News & Resources