Home Loans for DOCTORS
As a doctor or medical professional, you have worked hard to establish yourself in a rewarding and stable career.
Now, you’re in a strong position to take the next step in building wealth and securing your financial future.
Finding the right home loan can feel like searching for a needle in a haystack, especially for medical professionals with unique financial circumstances.
Home Loans for Doctors are tailored specifically for doctors and healthcare specialists, offering exclusive benefits and perks that can make your property journey smoother and more affordable.
Whether you’re looking to purchase your first home, start a property portfolio, planning renovations or considering refinance, there’s a financing solution designed with your needs in mind and we’re here to help.
Are you interested to learn more? Read on below or book a personalised strategic mortgage broking review with our team today.
Home Loans for Doctors – How You Can Benefit
Doctor home loans offer exclusive benefits tailored for medical professionals, providing financial solutions that align with your income and lifestyle.
Some of the benefits include:
Competitive interest rates: Medical professionals often enjoy access to highly favourable rates not available to the public, leading to significant savings over the lifetime of the loan.
Flexible loan terms: Tailored repayment options designed to suit the unique financial situations and long-term goals of doctors and medical professionals.
Higher borrowing limits: Lenders recognise the earning stability and growth potential of medical careers, offering higher loan amounts to support the purchase of substantial properties or investments.
Lenders mortgage insurance (LMI) waiver: Many banks waive the need for LMI, reducing upfront costs and making the loan process more affordable.
Lower deposit requirements: Medical professionals can often enter the property market sooner, thanks to reduced deposit thresholds.
Purchase a home sooner: Take advantage of specialist mortgage solutions designed for medical professionals to fast-track your homeownership journey. Access equity to start or expand your portfolio: Unlock the value in your home or existing property portfolio to invest in new opportunities and grow your wealth.
Overall, the benefits of doctor home loans are designed to complement your professional standing and financial capacity, making them a smart choice for those in the medical field.
Find out if you qualify for these benefits today!
Book a free personalised strategic mortgage broking consultation with a member of our team today.
Reduce your deposit with Waived LMI (Lenders Mortgage Insurance) for Medical Professionals
Saving for a hefty deposit can be a stumbling block for many homebuyers, but doctor home loans offer a lifeline.
Many of these loans allow specialist home loans with a reduced deposit requirement of only 5%, enabling you to step into the property market sooner than you might have expected.
We assist doctors in purchasing a home with a low deposit while avoiding lenders mortgage insurance.
Lenders often extend this waiver to medical professionals, sparing you a significant upfront cost.
LMI can typically add thousands to your initial purchase expenses, so avoiding it can lead to substantial savings.
Maximise your Overtime Earnings to Increase your Borrowing Potential
Medical professionals often work long hours, and the good news is that your overtime earnings can be a valuable asset in your home loan application.
Many banks apply a ‘shading’ policy to overtime and on-call income, meaning they discount this income when assessing loan affordability.
For many doctors and medical professionals, these additional hours represent a significant portion of their overall earnings, which can limit their borrowing capacity and ultimately, the value of the assets they can finance.
We can connect you with lenders who consider 100% of your income, helping you unlock your full borrowing potential and secure the best possible loan.
Book a meeting with one of our Strategic Mortgage Brokers to explore home loans for doctors today.
Are you interested to learn more? Read on below or book a personalised strategic mortgage broking review with our team today.
Do I Qualify for a Doctor Home Loan?
Some of the medical practitioners that qualify include:
- General Practitioners (GPs): GPs working in private practices or public hospitals can qualify.
- Medical Specialists: Specialists, such as surgeons, paediatricians and obstetricians.
- Dentists: Both general dentists and specialists, including orthodontists and oral surgeons.
- Interns and Residents: Even junior doctors, such as interns and residents, may be eligible for home loans.
If your medical profession isn’t listed, you may still be eligible for special benefits – reach out to us to find out!
Other Eligibility Criteria:
To qualify for a doctor home loan, you typically need:
- Membership with an industry body, such as the Australian Medical Association or the Australian Health Practitioner Regulation Agency (AHPRA).
- Current employment as a doctor or a qualified medical professional.
Unlike many other professions, there are no minimum income requirements, making these loans accessible for a range of medical professionals.
What Documents do I Need to Provide for a Doctor Home Loan?
Applying for a doctor home loan requires specific documentation to verify your medical and financial status.
- Proof of medical registration with a professional association: Demonstrates your professional standing and confirms your eligibility for a doctor home loan.
- Income proof: Recent payslips or tax returns are required to verify your earning capacity and assess your ability to meet loan repayments.
- Identification documents: A driver’s licence or similar ID is needed to confirm your identity, a standard requirement to ensure the security of the loan process.
- Bank statements: Provide a snapshot of your financial health and stability, helping lenders evaluate your financial position.
- Employment contracts: May be required by some lenders to support your income stability by offering evidence of ongoing employment and future earning potential.
Being prepared with the necessary documents streamlines the home loan application process, making it easier for you to secure the financing you need.
Ready to take the first step? Book a complimentary meeting with a Strategic Mortgage Broker today.
Book a free personalised strategic mortgage broking consultation with a member of our team today.
Why Choose Property Planning Australia?
Partner with mortgage broker specialists who put your interests first, we’re here to help you navigate the complex world of home loans for doctors.
At Property Planning Australia, we’re committed to offering:
Tailored Solutions: Every client’s situation is unique, so we take the time to understand your needs and provide personalised advice.
Extensive Lender Network: We work with over 50 lenders, ensuring you have access to the most competitive loan products and interest rates on the market.
Expert Guidance: With years of experience in the industry, we simplify the loan application process and handle all the heavy lifting, from comparing loans to finalising the paperwork.
Ongoing Support: Our relationship doesn’t end when your loan settles. We continue to provide support and advice as your financial needs evolve, ensuring you always have the best loan for your situation.
Ready to Explore Your Home Loan Options?
If you’re ready to explore lending solutions, Property Planning Australia is here to help. We provide free, no-obligation Strategic Mortgage Brokers to help you assess your options and make an informed decision.
Contact us today to take the first step toward a more secure financial future.
advice for accumulating
your largest financial asset.
Book a free personalised strategic mortgage broking consultation with a member of our team today.
Frequently asked questions
How do I access equity to fund my next purchase?
Learn how to unlock the equity in your property to fund your next purchase, including the steps involved and financing options available.
What is the best loan structure for investment loans?
Mortgage strategy is vital to financial success, check out our article on investment lending to learn more about how to structure investment loans to maximise growth potential.
How do I calculate an appropriate amount for my home loan?
It’s not just about borrowing power! We take you through how to identify a realistic purchase price and loan amount that aligns with your cash flow goals, ensuring your investment remains financially sustainable.
What will my loan repayments be?
Use our home loan repayment calculator to understand how your loan repayments are calculated, including factors like interest rates, loan terms, and borrowing amounts, to help you plan your budget.
Hear from our clients
I have arranged a number of Mortgages through Ryan Bain and his Team at Property Planning Australia. The team communication is excellent in keeping you informed throughout the process which would be arduous without assistance. I would highly recommend Ryan and the team at Property Planning Australia if considering a new Mortgage or looking to refinance!
Steve
We came to know about Property Planning Australia and the benefits of mortgage strategy from listening to David on the Property Planner, Buyer and Professor podcast. From the moment we reached out, the service from the team has been excellent. They have helped us refinance, provide mortgage strategy for our next investment purchase and manage risks through our mortgages. Couldn’t be happier, highly recommend!
Adele
We have been working with Ryan and the PPA team since 2009. Throughout this time, PPA have helped us through a home purchase, multiple refinances and proactively reduced the interest rates on our lending. We couldn’t be happier with the service provided, which has always been first class. Highly recommend!
Georgina
I’ve been working with Property Planning Australia since 2013, where PPA helped me with the purchase of my first home and two subsequent refinances. The service has been second to none and I couldn’t recommend them more highly. Thank you team PPA for all the guidance and support!
Bianca
We’ve had a great experience with PPA, from a refinance two years ago to now assisting us through an investment property purchase. The team at PPA have been incredibly professional and diligent throughout the whole process and the loan structuring advice received from our strategic mortgage broker has been invaluable. Could not recommend them more highly!
Shelley
Thank you to Ryan and the team at PPA for always looking after us. Communication with PPA is always clear and easy. They took away a lot of the hassle and headaches of refinancing. PPA has looked after us for the last 6 years and we can’t fault their service. Would highly recommend to anyone looking to refinance or build their investment portfolio.
Serena
I first used Property Planning Australia in 2021 and returned to them when I refinanced in 2023. Their approach is not transactional so you’re going to get service that is tailored to your needs and goals, whatever that may be. I didn’t have to prompt them to request for my rate to be reviewed. After 12 months with the lender, I was impressed with receiving an email from the PPA advising the lender has reduced my variable rate well before the cash rate started to increase.
Lou
I recently had the pleasure of working with Property Planning Australia for a refinance and the experience was absolutely fantastic! Richard took the time to thoroughly analyse my financial situation and understand my long-term objectives. He crafted a plan that not only addressed my current refinancing needs but also aligned with my future investment aspirations. Their strategic approach gave me confidence and peace of mind that I was on the right track.
Joshua
The importance of your Mortgage Strategy is underestimated and misunderstood due to the focus on interest rates.
This cannot be reversed – only rectified from now!
Book a free personalised strategic mortgage broking consultation with a member of our team today.