Home Loans for Vets: LMI Waivers by Lender

Six lender groups waive LMI on home loans for veterinarians, all up to 90% LVR where a limit is published. The main difference between them is income: ANZ needs none, while the Westpac group asks for $90,000.

In short

ANZ, the Westpac group, CommBank, NAB, BOQ Specialist and Auswide Bank name vets.
The published limit is 90% LVR. None of these lenders publishes 95% for vets.
ANZ requires no minimum income and accepts state or territory veterinary board registration.
The Westpac group requires at least $90,000 a year.

Which lenders waive LMI?

Vets have the same number of lenders as dentists, but a lower ceiling. Every lender that publishes a figure stops at 90%, so plan on a 10% deposit. The Westpac group also names physiotherapists, psychologists and other allied health roles: see home loans for allied health.

Published LMI waiver policies, checked 29 September 2026
Lender	Status	Max LVR	Conditions	Investment loans
ANZ	Waiver	90%	No minimum income. Registered with the relevant veterinary board. Borrow $4.5m or less, total ANZ home lending $8m or less. You must hold the largest or an equal largest share.	Yes, principal and interest
Westpac, St.George, Bank of Melbourne, BankSA	Waiver	90%	$90,000 minimum income, casual income counted over 52 weeks. Self-employed vets included at St.George, Bank of Melbourne and BankSA.	Yes, with a 10% deposit
CommBank	Waiver	Not published	Veterinarians named in the health package. No income or loan limit published.	Yes, under the health package
NAB	Waiver	Not published	Veterinary practitioner named. No LVR or income rule published.	Not stated
BOQ Specialist	No LMI for its clients	90%	Vets are a target client group. Criteria not published.	Yes
Auswide Bank	No LMI required	90%	Veterinarians named.	Yes

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 90% LVR, published lender figures put the LMI you would otherwise pay at about:

Home price	Loan at 90%	Typical LMI	Published range
$600,000	$540,000	$10,800	$8,100 to $14,200
$800,000	$720,000	$14,400	$10,700 to $19,000
$1,000,000	$900,000	$18,000	$13,400 to $23,700

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

Estimate the LMI for your own loan

Registration: your state board, not AHPRA

Most health waivers ask for AHPRA registration, but vets are registered with a state or territory veterinary board. ANZ's sheet covers this directly, naming AHPRA or "the relevant veterinary board". The Westpac group, CommBank, NAB, BOQ Specialist and Auswide Bank name veterinarians without spelling out the registration they check, so have your board registration ready when you apply.

How lenders assess a vet's income

If you are a new graduate or work part time, ANZ is the lender to look at first, because it states no minimum income. The Westpac group needs $90,000 a year, with casual income averaged over 52 weeks, and St.George, Bank of Melbourne and BankSA include self-employed vets. ANZ also requires you to hold the largest or an equal largest share of the property, which matters if you buy with a partner.

Veterinarians are on the Westpac group's list for counting 100% of overtime and allowances as income. St.George applies that once you have 6 months of income evidence with the same employer, and not to self-employed vets. APRA's guidance to banks says prudent practice is to discount most non-salary income, such as overtime, by at least 20%, so counting it in full lifts your assessed income.

If you own or part-own a practice, lenders assess you as self-employed. Westpac says its 90% waiver cannot be combined with its Fast Track assessment, so you are assessed under its 1-year or 2-year methods, which ask for business and personal tax returns, with the business trading for at least 2 full financial years. ANZ usually asks for one financial year of tax statements, plus the business tax return if you own 25% or more of the company or partnership.

What if you are not eligible?

If none of these lenders suits you, 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 a family guarantee is another way to keep the loan under 80%.

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

Frequently asked questions

Do vets need AHPRA registration for the LMI waiver?

Vets register with their state or territory veterinary board, not AHPRA. ANZ says so directly: it accepts registration with the relevant veterinary board. Check with each lender that its wording covers your board.

Is there a minimum income for vets?

It depends on the lender. ANZ says no minimum income is required. The Westpac group asks for at least $90,000 a year, with casual income counted over 52 weeks. CommBank, NAB, BOQ Specialist and Auswide Bank publish no income rule.

Can vets get 95% LVR with no LMI?

Not on published terms. Every lender that states a limit for vets caps it at 90%. The 95% waivers at the Westpac group and ANZ are for doctors and dentists.

Can a vet who owns a practice get the LMI waiver?

Yes, at the Westpac group. St.George, Bank of Melbourne and BankSA include self-employed vets in their 90% waiver, with at least $90,000 a year. Westpac says that waiver cannot be combined with its Fast Track assessment, so you provide business and personal tax returns under its 1-year or 2-year methods.

Can I use the waiver for an investment property?

Yes at several lenders. ANZ's sheet covers owner-occupier or investor loans at 90%, Westpac's investing page covers healthcare practitioners earning $90,000, and CommBank, BOQ Specialist and Auswide Bank include investment lending.

Sources

Each source was checked on 29 September 2026.

Researched and maintained by

Andrew Wortman

PhD in Financial Studies, 5 years in finance

Every figure on this page comes from a lender, insurer, government or regulator source listed above. Read our editorial policy.

Published: 29 September 2026