Home Loans for Dentists: LMI Waivers by Lender

Which lenders waive LMI?

Lenders' own published policies, checked 29 September 2026. A policy is not an approval: each lender assesses your application and can change or withdraw an offer.

How much LMI does a waiver save?

A waiver removes the whole premium. At 95% LVR, published lender figures put the LMI you would otherwise pay at about:

NSW, where there is no duty on LMI. Other states add 9% to 11% to the premium. Built from LMI figures Australian lenders publish.

Which dental roles qualify?

Lenders say "dentist" or "dental practitioner". Only ANZ spells out who is left out: its fact sheet lists dental therapists, dental hygienists, dental prosthetists and oral health therapists as ineligible.

No lender we checked names those roles as eligible. If you work in one of them, the waiver routes on this page are unlikely to apply, and the options in the next section are the place to start.

How lenders assess a dentist's income

If you earn through your own ABN, a partnership, a company or a trust, lenders assess you as self-employed. CommBank says this applies even when you are the sole director of your own company. The Westpac group and ANZ publish no minimum income for dentists.

The Westpac group puts dentists in its 95% medical group, and Westpac says eligible medical applicants keep that waiver under its Fast Track assessment, which needs only your last two years of personal ATO notices of assessment. All of its self-employed methods expect the business to have traded for at least 2 full financial years.

At ANZ, your share of the practice changes the paperwork. With 25% or more of a company or partnership, you add the business tax return, and for a company its financial statements, to your own tax return and notice of assessment. Under 25% you are still treated as self-employed and need an ABN or ACN valid for 18 months, or two years if you are paid director's fees or dividends. ANZ usually asks for one financial year of tax statements, and its 5% deposit assumes you already borrow from ANZ or have a debt-to-income ratio under 6.

NAB lists two years of personal and business tax returns and accepts one year's financials only at 80% LVR or less. CommBank asks for two years of personal tax returns, the latest notice of assessment and two years of profit and loss, with a shorter list if you pay yourself a regular salary from the practice. Auswide Bank lets the loan sit in a related company or trust that you own or direct.

Buying an investment property as a dentist

Five of the six lender groups say something about investment. Westpac's broker policy lets eligible healthcare professionals borrow up to 95% with no LMI, CommBank's health package covers investment home loans, and Auswide Bank and BOQ Specialist list investment purchases. ANZ's 95% is based on owner-occupied principal and interest loans, and it sets the deposit for an investment loan case by case. NAB does not say.

What if you are not eligible?

If the waiver does not fit your role or your lender, ubank charges no LMI up to 90% for any occupation on owner-occupied and investment principal and interest purchases. First home buyers can use the 5% Deposit Scheme, and BOQ takes 15% off the LMI premium when a family member pays it at settlement.

Compare every route in how to avoid LMI, or see all professions in LMI waiver rules.

Frequently asked questions

Sources