At Hayes Financial, we understand the unique challenges and opportunities that come with a career in healthcare. That’s why we’re passionate about helping doctors, registered nurses, and other health professionals access the home loan packages designed especially for them. These “medical professional packages” (often called “doctor home loans”) can give you significant benefits, helping you buy sooner and save thousands along the way.
What Are the Benefits?
Medical professional home loan packages often include:
- Waived or heavily reduced Lenders Mortgage Insurance (LMI), saving you tens of thousands upfront
- The ability to borrow up to 90–95% of the property’s value without paying LMI
- Access to sharper interest rates and fee discounts
- Higher borrowing limits, as lenders view healthcare professionals as lower risk
Who Qualifies?
These packages are available to a wide range of health professionals including doctors, registered nurses, dentists, pharmacists, optometrists, veterinarians and other AHPRA-registered practitioners. In fact, your AHPRA registration is often the key deciding factor for lenders. Most banks use this as their benchmark to confirm you qualify for the special benefits. You’ll also need a stable income and a good credit history.
Real-World Example: How Much Can You Save?
Let’s compare two buyers purchasing a property for $800,000 with only a 10% deposit ($80,000).
- Standard Buyer
- Loan required: $720,000
- Deposit: $80,000 (10%)
- LMI payable: approx. $20,000–$25,000
- Total upfront cost: $100,000+
- Doctor/Nurse using a Medical Professional Package
- Loan required: $720,000
- Deposit: $80,000 (10%)
- LMI waived
- Total upfront cost: just the $80,000 deposit
Result: The medical professional buyer saves $20,000–$25,000 upfront and enters the market much sooner.
How Do You Access Them?
Not all banks offer medical professional packages, and those that do often have different rules and benefits. That’s where we come in. At Hayes Financial, we work with a wide panel of lenders and know exactly which ones provide the best deals for doctors, nurses, and other medical professionals. We’ll help you compare, negotiate, and secure the right structure for your loan, saving you both time and money.
Is It Right for You?
A medical professional package can be a powerful tool to get you into the property market sooner, especially if you don’t yet have a 20% deposit. But like all lending solutions, it needs to suit your personal goals and circumstances. Our role is to guide you through the fine print, explain your options in plain language, and make sure the loan works for you long term.
At Hayes Financial, we’re here to make the process simple, stress-free, and tailored to your career. If you’d like to find out whether you qualify for a medical professional package, get in touch with our team today — we’d love to help.