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QUALIFICATION CRITERIA

Qualifying for LMI Waivers

  • 1. No LMI for Doctors

    Medical professionals, including specialists, dentists, and veterinarians, can borrow up to 100% of the property value with no LMI, subject to industry membership.

  • 2. No LMI for Professionals

    Accountants, lawyers, professional athletes, and entertainment professionals may qualify for no LMI loans up to 90% LVR, with loan sizes up to $4 million.

  • 3. 107% Loan with Guarantor

    First-home buyers with a guarantor can borrow 107% of the property value, covering purchase costs without paying LMI, regardless of profession.

  • 4. 90% Loan, No LMI

    Borrow up to 90% LVR with no LMI, even if you’re not in a specific profession, provided you have strong credit and employment history.

  • 5. 85% Loan, No Guarantor

    Get a no LMI loan up to 85% LVR without requiring a guarantor, available for buyers with clear credit history.

  • 6. No LMI for First Buyers

    Eligible first-home buyers can access government-backed schemes to buy with as little as a 5% deposit without paying LMI.

Strengthen Your Investment Game

Know where you stand before you invest. Use our calculator to check your eligibility and build a stronger property portfolio.

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GOVERNMENT SCHEMES

No LMI for First Home Buyers

Buying your first home? You may be eligible to skip Lenders Mortgage Insurance (LMI) with government-backed schemes, helping you enter the property market sooner.

Regional First Home Buyer Guarantee

Designed for buyers in regional areas, this scheme helps first-home buyers secure a loan with a low deposit and no LMI.

Leverage Equity or Guarantor

Using a guarantor or existing property equity could allow you to borrow over 100% of the property’s value.

HOME LOANS WITH LMI WAIVER

LMI can be waived for specific types of home loans based on borrower eligibility.

Home loans for professionals

First home buyer loans

90% No LMI home loans

Guarantor home loans (107% loan with no LMI)

85% No LMI home loans (without guarantor)

Why Choose US

Professional Guidance for No LMI Loans

At Everrich Finance, we specialise in securing No LMI home loans tailored to your unique situation. Whether you're a professional, first-home buyer, or seeking a guarantor loan, we leverage our lender network to help you save thousands in unnecessary LMI fees while securing the most suitable loan terms.

Exclusive Access

We work with lenders offering unadvertised No LMI loan specials, ensuring you get the right deal available in the market.

Timely Approvals

With our expertise, we streamline the application process, helping you secure approval sooner than later.

Tailored Solutions

From professional home loans to first-home buyer schemes, we customise your loan to fit your needs.

Professional Support

Our mortgage specialists guide you at every step, ensuring a streamlined experience from application to settlement.

We compare loans from a wide range of lenders

CORE ESSENTIALS

Waived Lenders Mortgage Insurance (LMI) Explained

Some lenders offer no LMI home loans to:

To qualify for waived LMI, you must meet the following criteria:

Doctors
Cardiologist Gynaecologist Oncologist Pharmacist
Clinical Pharmacologist
Haematologist
Ophthalmologist
Psychiatrist
Dentist
Hepatologist
Optometrist
Radiologist
Dermatologist
Immunologist
Orthopaedic Registrars
Rheumatologist
Endocrinologist
Nephrologist
Otolaryngologist
Surgeon
Gastroenterologist
Neurologist
Paediatrician
Urologist
General Practitioner*
Obstetrician
Pathologist
Veterinarian
Registered Nurse
Midwives
Occupational Therapist
Audiologist
Speech Pathologist
Speak to us today on (03) 9034 5223 or enquire online.

Accountants, lawyers, professional athletes, and entertainment professionals

1. Maximum loan size of $4.0 million.
2. Maximum loan of 90% of the property value.
3. You must be a member of a relevant industry organization
4. Accounting professionals must either be an accountant, chief financial officer (CFO), finance manager, auditor or actuary.
5. Legal professionals must either be a lawyer, barrister, judge or solicitor.
6. Different professional athletes will be considered under the condition that they have an accredited manager or agent.
7. Entertainment professionals must work in either the television, film, theatre, music or fashion industries. Please speak to us to find out if you’re eligible.
8. There is no minimum income requirement. Rental income can be considered.
Speak to us today on (03) 9034 5223 or enquire online

107% loan with no LMI

Speak to us today on (03) 9034 5223 or enquire online.
This isn’t suitable for everyone, but it’s a great way for first home buyers to get into the market, avoid LMI and get a great interest rate.

90% loan with no LMI

Speak to us today on (03) 9034 5223 or enquire online

85% loan with no LMI and no guarantor

Your loan must be no more than 85% of the property value (85% LVR).
Speak to us today on (03) 9034 5223 or enquire online
No LMI for First Home Buyers

Is LMI waived for first home buyers?

Yes, LMI can be waived for first-home buyers if you qualify for any one of these government schemes:
These nationwide schemes are designed to help first-home buyers enter the property market with a deposit as low as 5% of the property value without paying LMI.
Lenders Mortgage Insurance LMI FAQ

Home Loans For Investment Properties: Your Questions Answered

  • 1. Why do banks only accept certain professionals for waived LMI?

    There are a few banks that have a list of professions that they will waive LMI for allowing borrowers to get higher loan limits than normal with significantly reduced interest rates because they:
    1. Have a lower default risk
    2. They generally pay on time
    3. They can borrow more than other customers because the bank is willing to consider other variable to help improve their ability to borrow.
    4. They are connected to other high net-worth borrowers.
    Therefore, select professionals in medical, accounting, legal industries present the lowest risk and highest payoff.

  • 2. Can you combine applicants income to meet the income threshold for LMI waiver rules?

    Yes, you can get LMI waived with a combined income from couples, rental, investment, dividend distributions etc.. One of our lenders does not have a minimum income requirement. But most lenders will generally have a minimum income of $100,000 – $150,000 each year.
    Speak to us today on (03) 9034 5223 or enquire online and our expert advisor will help you get the LMI waiver required.

  • 3. What can I do to reduce my LMI premium? How is LMI premiums calculated?

    LMI premium providers like Genworth and QBE look at variables like:
    1. Your loan amount
    2. Your Loan to Value Ratio (LVR)
    3. The lender and mortgage insurer you choose
    4. Whether you qualify for a guarantor loan
    5. Whether you can prove genuine savings

  • 4. How do I apply for a no LMI home loan?

    Our mortgage brokers at Everrich Finance know which lenders mortgage insurers are the cheapest. Some of our lenders offer specials to gain additional market share and, in many cases, these LMI specials are not advertised to the public.
    Speak to us today on (03) 9034 5223 or enquire online and our team at Everrich Finance will help you get the LMI waiver required.

Testimonials

Love from Clients

James provides open and honest advice. He values long term relationship and will tell you what you need to hear even if that may be against his own interest in…

Colin Won
First Home Buyer

I would give 6/5 stars if possible! Murray came highly recommended to me by a close friend and I have since recommended Murray to our friends and family. His hard…

Rob Lang
First Home Owner

Purchasing my first property would not have been possible without the help of Murray at Everrich Finance. He was extremely thorough in every step of the application process and always…

Minh Vuong
First Home Buyer

Save on LMI Costs

Some lenders offer exclusive Lenders Mortgage Insurance (LMI) waivers that aren’t publicly advertised. Our mortgage brokers at Everrich Finance can help you secure the right loan for you. Book a free assessment or speak to us today at (03) 9034 5223.