- Doctors are eligible for Macquarie Bank LMI waiver with only 10% deposit.
- Unfortunately, nurses and other medical professionals do not qualify at Macquarie Bank for an LMI waiver. However, you can check this list of lenders to see which ones will waive LMI for you.
- To estimate your borrowing capacity, take a look at our useful calculator.
Macquarie Bank offers eligible doctors an exclusive LMI Waiver, allowing them to enter the property market with only 10% deposit while avoiding costly LMI fees. This waiver can save borrowers tens of thousands of dollars, making homeownership more accessible.
While you can apply for the Macquarie Bank LMI Waiver directly through the bank, partnering with an expert mortgage broker, like Eden Emerald Mortgages, ensures a smoother and more efficient process. Their team provides expert guidance, helps determine your eligibility, and manages the entire application process. They also compare lenders to find the best rates and explore alternative LMI waiver options if Macquarie Bank isn’t the right fit for your situation. Best of all, their services are completely free for borrowers, as they are paid by the lender. To get in contact, fill out the form below and receive a callback about your situation.
Speak to Me and
Get Your LMI Waived
To receive free guidance throughout your home loan process, including expert advice and recommendations on LMI Waivers, fill out the form below to speak to me.
I'm Shaun, an experienced mortgage broker from EE Mortgages who will call you to discuss your situation free of charge. You can also call me on (02) 9188 9398.
Macquarie Bank LMI Waiver: Which Professions are Eligible?
How to Apply for LMI Waiver at Macquarie Bank
To apply for a Macquarie Bank LMI waiver, simply follow these steps:
- Check Eligibility: Find out if you are eligible, based on your profession, deposit amount, and desired loan amount. It is a good idea to speak to a mortgage broker who can help you determine eligibility, as well as guide you through the entire process.
- Speak to Macquarie Bank: If you use a mortgage broker, they will speak to Macquarie Bank on your behalf, so you can skip this step. If you decide to apply for a LMI waiver by yourself, then visit Macquarie Bank and tell them you want to apply for a No LMI home loan.
- Submit Documents: Provide any documents that are requested, such as proof or employment, relevant certification or registration for your profession, pay slips, bank statements and tax returns.
- Receive Confirmation: If you are approved, Macquarie Bank will waive your LMI, and you can borrow up to 90% LVR without having to pay any LMI costs.
Frequently Asked Questions
Yes, Macquarie Bank waives LMI for doctors. Unfortunately, other medical professionals do not qualify, but they can find suitable LMI waivers here.
There are several banks and lenders that waive LMI, including ANZ, BOQ, CBA, Granite Home Loans, Macquarie Bank, NAB, St. George and Westpac. To see the full list, read this article.
Accountants can avoid LMI, but not at Macquarie Bank. Accountants can borrow up to 90% LVR at Commonwealth Bank.
If you are a first-home buyer you can avoid LMI with 5% deposit. Alternatively, if you are a medical professional, you may be able to get a loan with 5% deposit at certain lenders. Check this article to see if you qualify.
Use a Mortgage Broker to Waive LMI
The simplest way to secure a home loan with an LMI waiver is by working with a mortgage broker. Their services come at no cost to you (as they are compensated by the lender), and they’ll assist you through the entire home loan and LMI waiver process. A broker can help you find the lowest possible interest rates while maximising your borrowing power.
We highly recommend EE Mortgages, a specialist mortgage broker in LMI waivers. To get started or even just to answer some questions, fill out the form below or call them on (02) 9188 9398.
Speak to Me and
Get Your LMI Waived
To receive free guidance throughout your home loan process, including expert advice and recommendations on LMI Waivers, fill out the form below to speak to me.
I'm Shaun, an experienced mortgage broker from EE Mortgages who will call you to discuss your situation free of charge. You can also call me on (02) 9188 9398.