1300 312 712
Have Any Questions?
L2, 11-15 Deane St
Burwood NSW 2134
Visit Us (By Appointment)
Westpac Medico Doctor Home Loan
- Borrow up to 95% LVR without paying LMI
- Experienced team with 99% approval rate
- We reimburse your annual home loan fees
High loan
approval rates
100% client
satisfaction
Home Loan
Policy Experts
We Help Doctors On Average Save $100,000 On Their Home Loans
As a medical professional, entering the property market often feels like a smart financial move. However, even with a stable income, the upfront costs of homeownership can be overwhelming. Between large deposits, stamp duty, and legal fees, it can place pressure on your finances.
Westpac Medico offers a tailored home loan solution designed to remove one of the biggest upfront hurdles: Lenders Mortgage Insurance (LMI). Qualified medical professionals can borrow up to 95% of a property’s value without paying LMI, allowing you to save thousands of dollars and speeding up the home buying process.
While you can apply directly to the bank, partnering with an experienced mortgage broker ensures a smooth, guided journey from start to finish. At Zenith, we help streamline the loan process so you can stay focused on your career while we take care of securing your future home.
Looking for a home loan for doctors?
Fill in the below form and our team will contact you within 2 business hours
Key Benefits of the Westpac Medico Home Loan
Before applying for any loan, it’s important to understand what you’re getting. Here are the standout benefits offered through Westpac’s Medico lending policy:
- Borrow up to 90-95% LVR (loan-to-value ratio) without LMI
- Maximum loan amount of $5 million on one security
- Total lending of $7.5 million, with over 80% LVR
- Accept residential property purchase, cash out, equity release, refinance (debt consolidation), increase for further loan, and business purpose (≤50% of loan amount)
- Accept security collateral including prestige properties, vacant land (≤8 ha), two standard separate residential dwellings, or residential units at ≥40 sqm
Get a home loan with full guidance and expert assistance
- Top-Rated Mortgage Brokers in Australia
- High Approval Rate over 1000+ loans
- Direct access to 50+ banks & lenders
Schedule a consultation with one of our home loan experts
What Medical Occupations Qualify for Westpac Medico?
Westpac recognises a wide range of healthcare professionals, grouped into two categories based on eligibility criteria.
Group A with 95% LVR without minimum income threshold:
- Dentists
- General Practitioners
- Hospital-employed Doctors
- Medical Specialists
Refer to the List of Australian Recognised Medical Specialties here.
Group B with 90% LVR and minimum of $90,000 combined gross per annum income:
Westpac Medico Loan Eligibility Criteria
- Audiologists
- Chiropractors
- Midwives
- Occupational Therapists
- Optometrists
- Osteopaths
- Pharmacists
- Physiotherapists
- Podiatrists
- Psychologists
- Radiographers
- Registered Nurses
- Sonographers
- Speech Pathologists
- Veterinary Practitioners
Sonographers, speech pathologists, and audiologists do not need AHPRA registration but must provide verification through their relevant boards. If your profession is not listed, speak with our team to explore alternative lenders that may offer similar benefits.
Westpac Medico LMI Waiver: Am I Eligible?
Saving on LMI can help you step into the property market sooner, especially if you’re still renting or purchasing your first home. To be eligible for a Westpac Medico loan with LMI waived, you must:
- Be an Australian citizen, approved permanent visa holder, or temporary visa holder (subject to bank and insurer approval)
- Be duly registered, able to provide a registration status and type with the Australian Health Practitioner Regulation Agency (AHPRA)
- Hold general, specialist, or provisional registration
- Be a current member of at least one recognised professional association, such as:
- Australian Association of Practice Managers
- Australian Dental Association (ADA)
- Australian Dental Council (ADC)
- Australian Medical Association (AMA)
- Australian Medical Council (AMC)
- Australian Veterinary Business Association
- Australian Veterinary Association
- Medical Practitioners Board of Australia
- Urological Society of Australia and New Zealand (USANZ)
- Other associations on a case-by-case basis (for verification of membership certificate)
- If self-employed, provide at least one full year of tax returns and undergo standard income and employment verification
- Ensure total Westpac consumer lending (above 80% LVR) is under $7.5 million
Why Partner with Zenith for a Westpac Medico Home Loan?
Westpac Medico offers competitive advantages for eligible medical professionals, but navigating the fine print and comparing your options can be time-consuming. That’s where Zenith comes in.
We help simplify the process with personalised advice, step-by-step guidance, and a deep understanding of lender policies. If Westpac’s offering doesn’t suit your circumstances, we’ll explore similar solutions from over 50 trusted lenders in our network.
With over 1,000 loans approved and extensive experience working with medical professionals, our team will manage the process from start to finish.
Contact us at 1300 312 712 to check your eligibility for a Westpac Medico home loan and learn how you can save with an LMI waiver.
How to apply for a doctor home loan (step-by-step guide)
Securing a home loan as a doctor is simple when you work with Zenith. Here’s a clear, step-by-step guide to the process:
Step 1: Consultation
The first step in the process is to schedule a consultation with us. We’ll assess your financial situation, discuss your goals, and help you understand the benefits available to you as a medical professional. This consultation allows us to determine your eligibility for LMI waivers and exclusive discounted rates.
At this stage, we also make sure that your income and financial profile are maximised to give you the best chance of securing a loan.
Step 2: Submit Documents
Once we’ve assessed your eligibility, we’ll guide you through the document submission process. Common documents include:
- Payslips or tax returns (for self-employed doctors)
- Employment contracts
- Identification documents
- Asset and liability statements
If you are refinancing an existing loan, we will also need to collect details of your current loan balance, interest rates, and repayment history.
Step 3: Loan Application Review
After reviewing your documents, we will present suitable lending options for you to consider. The chosen lender will then assess your loan application. This includes evaluating your income, employment stability, credit history, and the amount you wish to borrow. Doctors generally have an advantage here, as lenders consider them low-risk borrowers.
Zenith specialises in presenting your income in the best possible light, even in complex cases. We understand how to maximise your financial position and present your case to lenders in a way that boosts your borrowing power and helps you secure the best deal.
Step 4: Pre-Approval
Once the lender reviews your application, you will receive pre-approval. This gives you an indication of how much you can borrow and helps you set your property budget. Pre-approval is also beneficial when negotiating with sellers, as it demonstrates that you are a serious buyer with the financial backing to make a purchase.
Step 5: Final Loan Approval & Settlement
Once you’ve chosen your property, the lender will grant final approval for your home loan. This is when the funds are disbursed, and the settlement process begins. Whether you’re buying a home for the first time or refinancing, Zenith is here to guide you through every step of the way.
Refinancing with Zenith
If you’re already a homeowner and want to refinance your mortgage, Zenith can help you access the best deals available for doctors. Refinancing can be an excellent way to lower your interest rates, consolidate debts, or access equity in your property. We work with multiple lenders to find the most suitable refinance options for you.
Need step-by-step guidance? Contact Zenith, and we’ll manage the process for you.
Why choose Zenith for doctor home loans?
Zenith is a specialist mortgage broker that understands the unique financial circumstances of doctors. Here’s why you should work with us:
- Access to Exclusive Doctor Deals
We partner with lenders who offer exclusive home loan deals to medical professionals. This includes LMI waivers, discounted interest rates, and flexible loan options, all tailored to your financial situation.
- Wide Range of Lenders
We work with a broad range of lenders, allowing us to compare multiple home loan offers and find the best deal for you. Our deep knowledge of the lending market means we can access the most competitive rates available.
- Simple, Hassle-Free Process
We understand that doctors are busy professionals. Zenith takes the stress out of the loan application process by managing everything from document submission to liaising with lenders. We aim to make your home loan journey as easy and efficient as possible.
- Expert Strategies for Getting Tough Loans Approved
We’ve developed a winning strategy to get tough and challenging loans approved for doctors. Whether you’re a new doctor, self-employed, or a locum with a complicated income situation, we know how to present your financial profile in a way that improves your chances of approval. Our expertise in navigating complex financial situations is why many doctors turn to us for help with their home loans.
Want to unlock exclusive home loan deals for doctors? Book a free consultation with us to get started and secure the best deal for your home loan or refinancing.
Can all doctors access home loans with no LMI?
Most doctors qualify for LMI waivers if the meet the lenders’ eligibility criteria. This benefit is available to full-time, part-time, locum doctors, as well as those just starting their medical career.
How much can I borrow as a doctor?
Your borrowing capacity will depend on your income, credit history, and the specific lender’s criteria. As a doctor, you will generally be eligible to borrow larger amounts compared to other borrowers, but the exact amount will vary based on your financial profile.
Which lenders offer home loans for doctors?
Many major banks and financial institutions offer home loans specifically designed for doctors. Zenith works with a wide range of lenders to find the best deal for you.
What documents do I need to qualify for a doctor home loan?
You will typically need to provide payslips, tax returns, AHPRA registration, bank statements, and identification documents. After our initial consultation, our team will provide you with a list of required documents specific to your situation.
Can part-time or locum doctors access the same benefits?
Yes, part-time and locum doctors can access the same benefits, including LMI waivers and discounted interest rates, provided they meet the lender’s income and financial criteria.
At Zenith, we’re fully committed to helping doctors like you access the best home loan deals available. Whether you’re buying your first home, refinancing an existing loan, or expanding your real estate portfolio, we offer tailored solutions to suit your unique financial needs. Make contact with us today to partner up with a specialist mortgage broker for doctors.
Some of Our Lenders
Where
experience
counts
We believe everyone deserves access to a simple and transparent process for securing a home loan that aligns with their unique needs and goals.
We know how overwhelming the home loan process can be, and we’re here to make it easier.
With years of experience and a strong track record of helping hundreds of Australians secure the best home loans, we’re committed to making the process as simple and stress-free as possible.
client satisfaction
0
%
loans approved
0
+
different lenders
0
+
Our Proven Process
Discovery
We discuss your situation, the goals you're wanting to achieve, and assess how we're able to help you.
Assessment
We review your documents, research solutions, and present the best options to you. Once you agree to proceed, we prepare your loan application.
Lodgement
We lodge your loan application and monitor its progress. Once approved, we assist with reviewing and signing your loan contracts.
Support
Once your loan has settled, you join the Zenith family! We provide ongoing support and review your loan to match your changing needs.
Join thousands of satisfied customers
Have an obligation-free chat
with one of our experts
Your success
is
our success
We understand everyone’s circumstances are different and we take the time to understand you and your goals. We value forming lifelong relationships with all our clients and we are fully committed to adding value every step of the way.
We know that mortgages can sometimes be complex and hard to understand. We focus on simplifying the process for you and we treat your loan as if it were our very own. Let us do what we do best so there’s one less thing for you to worry about.
Solutions for Every Profession
We specialise in offering tailored home loan solutions to a wide range of professionals across all industries
Frequently Asked Questions
Partnering with a mortgage broker like Zenith can significantly streamline your home loan journey. We provide expert advice on loan products carefully tailored to your unique financial situation. By handling the legwork, comparing multiple options, managing paperwork, and negotiating better terms, we save you valuable time and help identify potential hidden fees. As we are not tied to any single lender, we can select the best loan for your needs, ensuring you secure the most suitable deal. Additionally, we proactively review your interest rate multiple times per year to ensure you remain on the most competitive rate available, maximising your savings and giving you long-term peace of mind.
Our services are provided at no cost to you. We receive compensation directly from the lender you choose once your loan is settled, ensuring that you can explore your options without incurring any upfront fees.
Each lender has unique criteria and requirements that must be met before they approve a loan. Our team takes the time to thoroughly analyse your credit history, income situation, and the specific strengths and weaknesses of your financial circumstances. This allows us to match you with the most suitable lender and loan package tailored to your needs. Our experienced professionals will provide you with comprehensive information, ensuring you have everything necessary to make an informed decision.
To begin, we’ll work closely with you to understand your goals and objectives. We’ll then gather and review all necessary supporting documents to ensure we have a comprehensive understanding of your situation. Once we have sufficient information to make a personalised recommendation, the next step will depend on the chosen lender’s processing timeline. This can vary from several weeks to a few months, which is why we strongly advise initiating the process as early as possible, especially when it comes to property purchases, where timing can be crucial.
You may not always qualify for financing from a specific bank. After assessing your unique situation, we’ll work to find you the lowest possible interest rate from eligible lenders. While interest rates are important, they’re just one piece of the puzzle. We’ll also help you consider all other fees and features associated with each loan option, ensuring you have a complete understanding of your choices and can make an informed decision that best suits your needs.
Typically, lenders require a minimum deposit of 5% of the property’s purchase price to secure a home loan. However, in some cases, it may be possible to proceed with a lower deposit. Keep in mind that if your deposit is less than 20% of the property’s price, you may need to pay Lenders Mortgage Insurance (LMI), unless you qualify for an LMI waiver or apply for a family guarantee. Contact us to explore your options and determine the best approach for your situation.
Support for Home Loans for Doctors