Home loans tailored for doctors typically offer special interest rates, waived or reduced Lender Mortgage Insurance (LMI), exclusive discounts, and other benefits due to the perceived low-risk nature of medical professionals.

Applicants must hold current registration with the Australian Health Practitioner Regulation Agency (AHPRA) and be actively practicing as a certified medical doctor. <br> Your AHPRA registration must be classified as general or specialist. Limited or provisional registrations may also be considered. <br> Check with your mortgage broker for specific criteria.

Waivers often apply to loans with a Loan-to-Value Ratio (LVR) of up to 95%. On a case by case basis, 100% for self-employed doctors.

In some cases, yes. Certain lenders allow doctors to borrow 100% of the property value without a guarantor. This usually involves special arrangements, such as split loans. Check with your mortgage broker for more details.

Doctors often receive exclusive interest rates lower than standard rates. These rates vary depending on the lender and the specifics of your loan, but they are typically more favourable than general market rates.

Some mortgage brokers cover or waive annual loan fees for doctors, especially for loans above a certain value. This can result in significant savings over the lifetime of your loan. Check with your broker to confirm if this benefit applies to you.

You typically need personal identification (passport or driver’s license), proof of income (recent payslips or tax returns), and bank statements showing current savings. If you’re self-employed, additional documentation might be required, such as business activity statements or interim tax returns.

Yes, many banks offer cash-back incentives for doctors, typically ranging from $1,000 to $4,000. These offers vary depending on the lender and loan size. Your mortgage broker can guide you to the best cash-back deals.

Lenders generally accept various income structures for doctors, including base PAYG salary, casual income, overtime, and allowances. Self-employed doctors need to provide additional tax returns or business documentation. Check with your broker for specific requirements.

Most mortgage brokers return loan options within 24 hours of receiving all required documentation. The full approval process can vary depending on the lender and the complexity of your financial situation.

Lenders consider factors like income stability, credit score, employment history, and LVR. Doctors are generally seen as low-risk borrowers due to their high income and job stability, which increases the likelihood of loan approval.

If you apply for a mortgage with your spouse or partner who is a doctor, you may qualify for a doctor’s home loan. Check with your broker to confirm eligibility and required documentation.

The big four banks (CommBank, NAB, ANZ, Westpac) offer special interest rates for doctors. These rates are typically lower than standard market rates, but they vary based on the specific loan and your financial profile.

Mortgage brokers specialising in doctor home loans can help you save thousands of dollars by negotiating exclusive rates, securing LMI waivers, and accessing cash-back offers. The exact savings depend on your loan size and terms.

The maximum loan size varies by lender, but some lenders offer up to $4.5 million for doctor-specific home loans. Check with your mortgage broker for details on your loan limits.