Home Loans for Dentists

Essential Home Loan Details for Dentists

Waived LMI Home Loans for Dentists

As a dentist, you dedicate your career to creating healthy smiles. You may also be eligible for home loan products tailored to professionals in the medical field.

Standard home loans might not always accommodate the income structure, career trajectory, or schedule of health professionals. Some lenders offer home loan options for dentists that include features such as potential discounts and LMI waivers, depending on individual circumstances.

At Ausfirst Lending Group, we’ve supported many dentists in applying for 95% LVR home loans without Lenders’ Mortgage Insurance (LMI), where eligible under lender criteria.

We aim to simplify the process so you can stay focused on your career with less stress.

Can Dentists Get 95% LVR with No LMI?

Dentists, like other health professionals, often have unique financial profiles. Some lenders offer 95% LVR home loans to eligible medical professionals without requiring LMI.

We work with a wide range of banks that may provide competitive interest rates and benefits tailored for certain professions. Individual eligibility will depend on the lender’s criteria and your financial situation.

Factors That May Help Dentists Qualify for LMI Waivers

Consider a general example: if you’re a dentist in Sydney looking to purchase a $970,000 property with a 90% loan-to-value ratio (LVR), you might be borrowing around $873,000. In this case, Lenders Mortgage Insurance (LMI) could apply, depending on the lender’s criteria. LMI is designed to protect the lender in the event the borrower defaults on the loan and is typically paid upfront or added to the total loan balance.

The cost of LMI depends on factors such as:

• Total loan amount
• Loan-to-Value Ratio (LVR)
• Deposit size
• Lender-specific policies

Some lenders consider occupation, income consistency, and financial history when determining eligibility for LMI waivers. Dentists may meet the criteria for such benefits depending on their circumstances.

We’ll help you explore these home loans for dentists and determine whether you may qualify for any associated benefits.

Eligibility for LMI-Free Loans May Extend Beyond Dentists

Some other high-income health professionals may also be eligible for LMI-free home loan options. The determining factor is often income stability and profession.

If you’re unsure whether you qualify, speak with one of our mortgage brokers. We can help assess your situation and explore available loan options, such as family guarantee loans or government-supported schemes like the First Home Guarantee (FHBG).

LMI-Free Loans Come with Specific Conditions and Criteria

Each lender has specific policies and eligibility criteria for home loans. That’s why we maintain relationships with various Australian banks and lenders—to help match your profile with suitable options for home loans for dentists.

Rather than limiting your choices, we offer access to a range of loan products, allowing you to consider options that align with your financial objectives.

At Ausfirst Lending Group, we clearly explain the terms, features, and conditions of any loan you consider, so you can make well-informed decisions.

LMI-Free Loans May Include Standard Home Loan Features

Many LMI-free home loans still include common loan features such as:

• Fixed-rate periods
• Credit cards with waived ongoing fees
• Variable-rate options
• Interest-only periods
• Loan offset accounts
• Separate lines of credit
• Split loan facilities
• Redraw options

Talk to us and let’s discuss how to structure your loan in a way that could support your homeownership goals.

Buying a home as a dentist might feel overwhelming, but with the right support, the process could be much smoother.

Why Many Dentists Choose Ausfirst Lending Group

• Our brokers have in-depth banking experience, including roles in loan approval decision-making.
• We work to leverage our industry connections, which may lead to faster application processing or access to more competitive rates.
• Access lender offerings designed for medical professionals, which may not be widely advertised to the general public.
• We provide ongoing guidance through each step of the mortgage process.
• Our team includes highly trained mortgage professionals with extensive experience.
• We’ve received recognition in the industry, with several brokers listed among Australia’s top 100.

Case Studies on Dentist Home Loans

Dr Michael’s Home Loan Case Study: 95% LVR with Waived LMI

Background: Michael is a dentist in South West Sydney, earning $145,000 per year.

Goal: He wanted to purchase his first home—an apartment valued at $720,000—to live closer to work and reduce rental expenses.

Challenge: Michael learned that his $55,000 savings were insufficient for a 20% deposit. He faced options such as paying LMI, saving more, or seeking family assistance.

Solution: A colleague referred him to a broker at Ausfirst Lending Group. The broker identified loan options specifically for medical professionals. Michael obtained a 95% LVR loan with no LMI and a competitive interest rate, saving him around $26,000 in LMI fees.

If you’re in a similar situation, exploring your options with a specialist broker may help you access a tailored home loan for dentists.

Dr Lisa’s Investment Portfolio Case Study: Saving by Refinancing

Background: Lisa, a dentist in Melbourne, and her husband, a software engineer, earn a combined $410,000 per year. They own several investment properties.

Goal: Lisa wanted to lower their interest rates amid rising costs. Her loan rate had increased significantly over the past year.

Challenge: Her existing bank declined to offer better rates, stating that promotional rates were reserved for new customers.

Solution: After consulting Ausfirst Lending Group, Lisa refinanced her loans. The new arrangement included a 0.50% rate reduction and cashback offers from the new lender. These changes reduced her loan costs and potentially increased her savings.

Dr Rebecca’s Home Loan Case Study: Expanding an Investment Portfolio

Background: Rebecca is a self-employed dentist working with two clinics in Sydney. She earns $210,000 per year and owns one investment property.

Goal: Rebecca wanted to purchase more properties as part of her long-term financial plan.

Challenge: Her bank assessed her borrowing power as limited, despite a strong deposit and rental income.

Solution: After engaging Ausfirst Lending Group, several changes were made to increase her borrowing capacity:

• Closing unused credit cards, reducing her assessed debt exposure
• Paying off her HECS-HELP loan, which reduced her monthly obligations
• Selecting a lender that considered only her most recent tax return

These adjustments allowed her to proceed with purchasing two additional properties, aligning with her investment goals.

Similar approaches may be considered by self-employed professionals exploring ways to strengthen their borrowing profile or expand into property. A specialist broker may help identify strategies suited to your situation. Enquire online today.

Explore Your Home Loan Options

Not sure where to start? Get in touch for a personalised discussion about what’s possible based on your circumstances.