Home loans · Healthcare
Home Loans for Dentists
As a registered dentist you sit inside the same group of medical professionals that several lenders treat differently, and that can be worth real money. If you own or are buying into a practice, there is a second angle worth getting right too.
The headline for dentists is that some lenders will waive lenders mortgage insurance for eligible dental practitioners borrowing up to 90 percent of a property's value. That removes a cost that often runs into five figures. The second angle, if you run a practice, is making sure your real income is what gets assessed.
The LMI waiver for dental practitioners
Normally, going above an 80 percent loan means paying LMI, an insurance premium that protects the lender while you pay for it. For eligible dentists, select lenders drop that requirement, so a 10 percent deposit can be enough with no insurance cost. Lenders generally want current AHPRA registration as a dental practitioner. Some also apply a minimum income level, which varies, so it is worth checking before you assume you are in or out. My guide to how LMI works covers the cost in detail.
Practice owners and mixed income
Plenty of dentists earn through a mix of arrangements, and this is where a lot of applications get messy. You might be a PAYG associate, a contractor on an ABN, a partner drawing from a practice, or some combination. Each is assessed differently.
| Income type | What lenders usually want to see |
|---|---|
| PAYG associate or employee | Recent payslips and a short employment history |
| Contractor on an ABN | Often one to two years of returns, sometimes less with the right lender |
| Practice owner or partner | Business financials plus add-backs to show your real earnings |
Self-employed does not mean second class
Owning your practice can actually strengthen an application once the numbers are presented properly. The trick is showing your true income, including legitimate add-backs, rather than the lower figure that shows on a tax return after deductions.
If you own or are buying into a practice, there may be commercial and self-managed super options worth a look too, including SMSF loans. And if this is your first home, start with first home buyer support.
Let's structure this properly
Tell me how you earn and I'll tell you which lenders suit and whether the LMI waiver applies. Free call, no obligation.
Frequently asked questions
Do dentists qualify for the same LMI waiver as doctors?
Many lenders include registered dental practitioners in their medical waiver policy, though the accepted list and any income floor differ by lender. I check current policy rather than working off an old list.
I run my own practice. Can I still get a good home loan?
Yes. Self-employed dentists get approved regularly. The key is presenting your real income with the right add-backs. Book a call and we'll map it out.
Does my HECS or HELP debt matter?
It reduces the income a lender counts, which can lower your borrowing power. It is easy to factor in, and sometimes not worth rushing to pay off before you buy.
Important information
This information is general in nature and does not take your personal objectives, financial situation, or needs into account. It is not credit assistance or a recommendation to enter into any particular credit contract. Consider whether it is right for you and seek advice before acting. Lending is subject to a lender's eligibility and approval criteria. Terms, conditions, fees, and charges apply.
Greenwood Finance · ABN 23 671 049 693 · Credit Representative No. 551942.
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