MEDICO LOANS FOR DOCTORS

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Key Features

Exclusive Perks for Medical Professionals

1. Reduced Interest Rates:

Enjoy special discounts on interest rates, exclusive to medical professionals, helping you save over the life of your loan.
2. Higher Borrowing Capacity:

Banks consider your high earning potential, allowing for larger loan amounts and greater financial flexibility.
3. Waived LMI Fees:

Benefit from a 95% loan-to-value ratio with no lenders mortgage insurance (LMI), saving you thousands upfront.
4. Enhanced Property Appreciation

Lower deposit requirements allow you to build your property portfolio quicker, enabling you to purchase your next property sooner.

Let’s save your home loan, while you save lives.

Use our loan eligibility calculator to assess your qualification for Medico Home Loans. Find out how much you can borrow, and discover your potential savings with exclusive discounts and waived LMI fees.

MEDICO LOANS IN MELBOURNE

Exclusive Loan Discounts for Doctors

As a medical professional, you’re eligible for special loan discounts and exclusive rates, even when borrowing up to 95% of your property’s value.

Lower Interest Rates

Borrow up to 95% of your property’s value while enjoying the same discounted rates as someone borrowing less.

Personalised Pricing Requests

We’ll work with our lenders to secure the most affordable rates and higher discounts specifically for you.

MEDICO LOANS FOR MEDICAL PROFESSIONALS

Who qualifies as a Medico Professional?

To qualify for a MEDICO, you need to have an industry body membership from the Australian Medical Association (AMA) or an equivalent organization.

General practitioners (GPs)

Medical specialists

Dentists

Interns and residents

Why Choose US

Specialist Mortgage Brokers for Medical Professionals

At Everrich Finance, we specialize in Medico Home Loans and understand the unique financial needs of doctors. Our licenced brokers have extensive experience working with medical professionals and navigating the complexities of income structures across different specialties. With access to exclusive deals and personalized service, we ensure you receive the right home loan options to suit your goals.

Specialized Knowledge

We understand the complexities of medical income and can offer tailored loan solutions for doctors at every career stage.

Streamlined Process

We make the loan application process efficient and easy, saving you time so you can focus on your practice.

Exclusive Deals

With access to over 30 lenders, we can secure the most competitive interest rates and discounts available to medical professionals.

Personalized Support

Our brokers offer one-on-one consultations to ensure your financial goals are met with the right mortgage solution.

We compare loans from a wide range of lenders

CORE ESSENTIALS

Medico Home Loans For Medical Professionals Explained

There are home loan packages available for doctors allowing them to get discounts on rates and lower deposit requirements without lenders mortgage insurance fees.

Banks view doctors as good borrower because they have good income and low risk of default. At Everrich Finance our mortgage brokers, can help you navigate through your loans. We have access to over 30 lenders ensuring that you find the most competitive rates and a solution aligned to your financial goals.

Benefits of MEDICO home loans

Apart from the 95% loan to value ratio with waived lenders mortgage insurance, you can also get the following benefits from a lender when you get approved for a home loan:

Special discounts: This includes reduced interest rates and fee waivers exclusive to medical professionals.
Build your property portfolio sooner: Because of deposit required it allows you to purchase the next property sooner.
Asset protection: With the help of your accountant and solicitor we can help protect your assets and take advantage of tax benefits by purchasing in a company or trust structure.
Higher loan amounts: Because future earning potential is high the banks are able to consider more exceptions.

Who can qualify for a MEDICO loan?

To qualify for a MEDICO, you need to have an industry body membership from the Australian Medical Association (AMA) or an equivalent organization.

There are different medical professional that qualify for MEDICO loans

General Practitioners (GPs): GPs working in a private practice or public hospitals are eligible, if they have a stable income and good credit history.
Medical Specialists: Specialists, radiologist, anesthetist, surgeons, pediatricians, and obstetricians qualify, as they usually have higher incomes, which enhances their borrowing capacity.
Dentists: Due to their stable incomes and high earning potential, both general dentists and specialists such as orthodontists and oral surgeons, can also apply for these loans.
Interns and residents: Even junior doctors, including interns and residents

If your medical profession is not listed, you might still be eligible for special benefits. Please contact us on (03) 9034 5223 or enquire online and our team can assist.

Special loan discount for Doctors

As a medical professional, you may get exclusive rates and discounts from our panel of lenders. This could mean that when borrowing 95% of the property’s value, you are still entitled to the same rate discounts as someone borrowing 80% of the property value.

To check what you are entitled to we can do pricing requests to get even lower interest rates and higher discounts for you. Please contact us on (03) 9034 5223 or enquire online and our team can assist.

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

Doctors

Maximum loan size of $4.5 million.
Maximum loan of 100% of the property value (borrowing more is sometimes possible).
You must be a member of a relevant industry organization (e.g. AHPRA Australia Health Practitioner Register).
You must be a preferred medical professional such as a

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.

How much can I borrow?

You may be able to borrow up to:

100% of the property value: You might be able to borrow up to 100% of the property value, but criteria for the loan is a lot stricter.
95% of the property value: Some medical professionals, like dentists, GPs, medical specialists and more can borrow 95% with no lenders mortgage insurance. There is no income threshold, but the maximum mortgage insurance waiver is only available up to $5 million in loan.

Eligibility Criteria For LMI Waiver

The eligibility requirements for an LMI Waiver for medical professionals are:

Maximum loan size of $5 million (exceptions apply)
Maximum loan of 95% to 100% of the property value
You must be a member of a relevant industry organization; for example, the Australian Medical Association (AMA)
You must be a preferred medical professional, such as a doctor, dentist, optometrist, veterinarian, chiropractor, pharmacist, etc.

How much savings do I need?

Doctors in Australia can save thousands of dollars by avoiding Lenders Mortgage Insurance when borrowing up to 95% of the property value. Here’s how much doctors can actually save with waived LMI, based on the property value:

Property Value	Loan Amount	LVR	Savings With Waived LMI
$800,000	$760,000	95%	$33,000
$900,000	$855, 000	95%	$37,000
$1 million	$950, 000	95%	$42,000
$2 million	$1.9 million	95%	$97,000
$5 million	$4.75 million	95%	$266,000

The table provided is an example only. To tailor a solution for you please contact us on (03) 9034 5223 or enquire online and our team can assist.

How to apply for MEDICO loan?

Consult with our experienced advisor at Everrich Finance who specializes in Medico loans. We will assess your financial position, negotiate the rates and apply for lenders mortgage insurance waiver on your behalf.
We will assess your borrowing capacity considering your income, liability and expense and arrange a pre-approval for you.
When you are successful in your offer. You will receive a contract of sale. We will submit the contract of sale, arrange valuation and address any outstanding condition and request the bank to issue formal approval.
Assist and review loan documents with you to ensure that the correct structure is set up for your loan. Finalise settlement conditions and notify your bank and solicitor to arrange settlement.
Once settlement has taken affect you will own the property and can arrange to collect keys from the real estate agent.

Our experience advisors at Everrich Finance will walk you through the entire journey of the loan application process. We will ensure that you get the most suitable deal and discounts and tailor the loan to your needs.

What documents are required to apply for a MEDICO loan?

Identification documents

Income

PAYG

Self employed

Property

Liability

Why choose Everrich Finance as your mortgage broker?

At Everrich Finance, our team of experienced advisors understand the financial needs of medical professionals. Medical professionals choose to work with Everrich Finance because:

Specialised in medico loans: Our brokers are well-versed to deal with income from medical professionals. Quite often we will see doctors, nurses and specialist work across multiple jobs with over time, allowances, penalty rates and sometime contracted. Whether you’re an intern or a specialist, we can help you navigate your options and structure the loan to match your financial needs.
Access to exclusive discounts: With our extensive panel of lenders we can access special deals for doctors and medical professional. This allows us to get you the most competitive loan options available in the market for you.
Streamlined Process: We guide busy professionals through a streamlined home loan application process. With our experience, we reduce the paperwork, assist you with the application process to help you save time and have peace of mind that an experience advisor is behind you all the way through your application.

NO DEPOSIT LOAN FAQ

Home Loans For Doctors: Your Questions Answered

1. Why do lenders waive mortgage insurance for medical professionals?

Lenders waive mortgage insurance for doctors because:

1. High-income potential: Doctors have high income earning potential, which means that they are generally lower risk borrowers.
2. Low default rates: Historically medical professionals have demonstrated low mortgage default rates, making them reliable borrowers.
3. Reliable business: Medical professionals are great referrers and because the ability to earn is so high they usually have strong financial stability.
2. What income is considered for medico loans?
Lenders will consider the following income

1. PAYG – Base income, allowances, loading, bonuses, overtime, casual, commission
- • Self employed income: Sole Proprietor, Partnership/company/trust
- • Investment income, Rental income, Dividend income
2. Other income
- • Child support payments
- • Pensions and benefits, including Family tax A & B
- • Salary-sacrifice arrangements
- • Superannuation Income
3. Can I get a medico loan if I am self employed?

Yes, you can get a home loan if you’re a self-employed doctor. At Everrich Finance our expert mortgage brokers have helped many self-employed medical professionals with their loans.
4. Can I buy an investment property with a medico loan?

Yes, you can buy an investment property and still be entitled to special discounts and get your mortgage insurance fees waived.

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