Are You a Dentist? Get a home loan without LMI

Rates and Fees verified correct on March 30th, 2017

With a range of benefits and discounts on offer, enjoy the significant savings that can be achieved with home loans for dentists

home loans for dentists

As a dentist, you are recognised as having a high earning potential which means that lenders classify you as a low-risk borrower.

This means you can take advantage of the specialist home loan products available from some lenders. Home loans for dentists offer a wide range of benefits including discounted rates and the ability to avoid lenders’ mortgage insurance (LMI) when you satisfy certain criteria.

Read on to find out more about the features offered by home loans for dentists.

How do home loans for dentists work?

Home loans for dentists offer the same features as any regular home loan and can be used to buy your first home or next home, buy an investment property, refinance an existing loan, or finance construction or renovations.

Usually, lenders have a separate department dedicated to home loans for what they term 'professionals'. This includes other medical professionals as well, including doctors, optometrists, cardiologists and many more.

Because lenders see the dental industry as very stable, they'll offer loans to dentists which have some extra benefits for borrowers. In many cases, lenders will offer a discount off the standard variable interest rate, allowing dentists to enjoy significant savings on interest repayments across the life of their loan. Another common benefit is that lenders will waive the need for applicants to pay LMI premiums up to a certain Loan to Value Ratio (LVR), allowing them to enjoy more without incurring the extra cost of insurance, which can cost thousands. Look at the case study below to see just how much this type of loan can save you.

Just how much can you save with one of these home loans?

Meet Donna. Donna works as a dentist and earns $100,000 per year. Although she only has $100,000 in her savings account, Donna has decided she’d like to buy her first house for $1 million. Her bank is happy to offer her a loan at the standard variable rate, but they insist on charging her for the cost of LMI.

Having heard from a work colleague that there are specialist home loans for dentists available, Donna approaches a mortgage broker who tracks down the perfect loan for her. Donna will pay off her mortgage over a 30 year period. Although Donna needs to borrow 90% LVR, the new lender does not require her to pay LMI. This will save Donna a total of $20 070, or $154 per month if the premium is capitalised into the loan.

In addition, the lender also offers Donna a 0.25% p.a. discount of the standard variable rate, which in turn equates to high interest savings over the 20-year term of her loan.

Find out how to compare home loans for dentists

Take the following features into account when comparing home loans for dentists:

  • Interest rate. Interest rates are an important factor to consider when comparing loans, as the interest charged on the amount you borrow can hugely affect how much you will have to spend to pay out your loan. Note that these loans generally come with interest rate discounts.
  • Fees. Keep an eye out for any hidden fees or charges that apply to your loan. While they may seem small at first, they can quickly add up to a sizeable amount if you’re not careful.
  • Repayment options. Can you make extra repayments on your loan without penalty? Can you pay the loan out ahead of time without incurring a fee? Can you choose a repayment schedule (weekly, fortnightly or monthly) to suit your budget? Ask yourself all these questions to determine which loan is right for you.
  • Discounts and benefits. Look at the different benefits you can take advantage of, such as discounted rates and waived LMI, and make sure you’re aware of any specific criteria you may need to satisfy to receive these benefits.
  • Other features. Compare any additional features each loan may offer to provide added flexibility, such as a redraw facility, an offset account and other package discounts. These can help you save money on your home loan in the long term too.

Speak to a Mortgage Broker

Rates last updated March 30th, 2017
Details Features
Aussie Home Loans
Aussie Home Loans
Aussie is one of Australia's leading financial service providers, having won The Adviser’s Top Mortgage Broker award for the last 3 years. They charge no appointment fees and can meet at a time and place which suits you. Up to 20 lenders Enquire Now More info
Pepper Money
Pepper Money
Pepper specialises in providing fair home loans to those who are credit impaired - from small defaults all the way up to discharged bankruptcies. Credit impaired home loans Enquire Now More info

Weigh up the pros and cons of home loans for dentists


  • Discounted interest rates. A reduction in the interest rate on your loan can save you a large amount of money over the life of your loan.
  • Waived LMI. LMI is quite costly and is an expense many borrowers often forget to take into account, so the ability to avoid paying for this type of cover is a huge benefit for dentists.
  • Higher LVR. Many providers of home loans for dentists will offer a higher maximum LVR to dentists than they do to ordinary borrowers. This means that dentists have greater borrowing capacity.


  • Lack of awareness. While many people know that there are discounted home loans for doctors, the existence of home loans for dentists hasn’t been as widely publicised.

The most important questions about home loans for dentists

How much of an interest rate discount will I receive?

The discount available varies between lenders and may be influenced by whether you are a member of the Australian Dental Association (ADA), your salary and the amount you are borrowing.

What conditions will I have to meet to qualify for a loan?

You will need to be employed as a dentist and the lender will often require you to be registered by the Australian Health Practitioner Regulation Agency (AHPRA). Other lending criteria will be determined based on your income, how much to wish to borrow and other factors.

Where can I find home loans for dentists?

There are several lenders and mortgage brokers that specialise in matching dentists up with the best available home loans. You’ll be able to find information about a wide range of brokers and lenders at

Am I eligible for these types of loans with a 457 Visa?

Several brokers and lenders can help you secure a loan even if you're in Australia on a temporary 457 visa. Note that in some cases the maximum LVR you'd be able to apply with might be limited, and there might be more stringent conditions that you'll have to fulfil when it comes to income.

Belinda Punshon

Belinda is a journalist here at Specialising in the home loans and property sections, she is passionate about helping Australians improve their financial wellbeing.

Was this content helpful to you? No  Yes

Related Posts

HSBC Home Value Loan - Resident Owner Occupier only

Enjoy the low variable rate with $0 ongoing fee and borrow up to 90% LVR. Essentials - Variable (Owner Occupier, P&I)

A competitive interest rate home loan with interest only options. Interest rate 3.59%p.a.
comp rate of 3.61%p.a.

Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed LVR ≤85% ($150K+ Owner Occupier)

Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.

Newcastle Permanent Building Society Premium Plus Package Home Loan - New Customer Offer ($150,000+ Owner Occupier)

Apply for a new owner occupier loan or refinance from another lender and receive this discounted rate.

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the privacy policy, receive follow up emails related to and to create a user account where further replies to your questions will be sent.

Ask a question