Understanding how much deposit you need, and whether you can avoid Lenders Mortgage Insurance (LMI) is an important part of planning your property purchase. For medical professionals, the good news is that many lenders offer specialised policies that significantly reduce the deposit required while waiving LMI altogether.

How Much Deposit Do I Need?

For most borrowers, lenders generally require a 20% deposit to avoid LMI. However, with Medico Loan’s access to tailored medical professional lending options, eligible clients can often purchase with as little as:

• 5%–10% deposit, with
• No LMI payable, depending on your profession and lender criteria.

These exclusive policies recognise the stable career path and strong earning potential of medical professionals, allowing you to enter the property market sooner and with less upfront cost.

Can I Avoid LMI?

Yes, many medical professionals can avoid LMI even with a lower deposit. LMI waivers are commonly available for:

• Doctors
• Dentists
• Specialists
• Allied health professionals (varies by lender)

This means you may be able to borrow up to 90%–95% of the property value without triggering costly LMI premiums.

Why This Matters

Avoiding LMI can save you tens of thousands of dollars, reduce your upfront expenses, and improve your borrowing power. Medico Loan helps you navigate lender policies, confirm your eligibility, and secure the most favourable structure based on your goals.