What home loan discounts are available?

Did you know that you don’t have to be a doctor to enjoy discounted interest rates and waived lenders mortgage insurance?

Pharmacists may quality for the following:

  • Avoid paying Lenders Mortgage Insurance (LMI).
  • Interest rates below those offered on professional packages.
  • Higher exposure limits for investors with a healthy property portfolio.

Speak to our mortgage brokers by calling 1300 889 743 or by completing our free assessment form. We can tell if you qualify for any of these offers.

Get LMI waived

Most borrowers are required to have a 20% deposit to avoid paying LMI. Saving 20% of the purchase can be quite difficult especially if you’re just starting out in the workforce.

What if you could have LMI waived though?

Well, you could save thousands of dollars! Luckily, pharmacists are considered to be lower risk than other borrowers, and some of our lenders are willing to waive it if you meet certain other criteria:

  • Your home loan must not exceed 90% of the purchase price (90% LVR).
  • You must be a member of the Australian Pharmacy Council or other acceptable medical association.
  • All pharmacists are accepted as long as you are fully qualified and working full time.
  • There is no minimum income requirement but your application must meet normal bank policy.

Our brokers can find a lender that best suits your situation so please call us on 1300 889 743 or complete our free assessment form for a free quote.

Reduced interest rates are available

Depending on your professional status, total income and asset position, and the amount that you are borrowing, the size of the interest rate discount will vary. Generally speaking though, it’s larger home loans that will attract a greater rate discount.

Discover what discounts are available for large home loans and fixed rate loans on our .

Note: We may be able to negotiate even lower discounts than those published on our website!

Grow your property portfolio

If you’re a qualified pharmacist and are just starting out in property investing, you could kick-start your portfolio thanks to these special home loan offers. How?

Well, since we may be able to get your LMI waived, it means you can buy a number of properties with much smaller deposits.

Of course, investing comes with its own risks so you should consider income protection, life and total permanent disability insurance to protect yourself.

Which lenders offer these benefits

There are three lenders that offer exceptional discounts for pharmacists. Our brokers can identify the best lender for your situation based on:

  • The size of your deposit.
  • The number of properties that you plan to buy.
  • The complexity of your situation e.g. trusts, self-managed superannuation funds and company structures.
  • If you are a member of the Australian Pharmacy Council.
  • If you and your partner have an unusual situation that is outside bank policy.

In some cases, it may be best to split up your mortgages between different lenders in order for you to get the most out of the benefits on offer.

Who can qualify for these discounts and waivers?

All types of pharmacists are accepted as long as you are fully qualified and working full time. This includes:

  • Academic Pharmacist
  • Clinical Pharmacy Specialist
  • Community Pharmacist
  • Compounding Pharmacist
  • Consultant Pharmacist
  • Drug Information Pharmacist
  • Home Health Pharmacist
  • Hospital Pharmacist
  • Industrial Pharmacist
  • Informatics Pharmacist
  • Locum Pharmacist
  • Managed Care Pharmacist
  • Military Pharmacist
  • Nuclear Pharmacist
  • Oncology Pharmacist
  • Pharmacist prescriber
  • Regulatory-Affairs Pharmacist
  • Veterinary Pharmacist
  • Pharmacist Clinical Pathologist
  • Pharmacist Clinical Toxicologist

Apply for a pharmacist home loan

We are experts in lending to pharmaceutical professionals and know which lenders offer incredible home loan deals including discounted interest rates and waived LMI.

Buy your dream home or rapidly build your property investment portfolio by calling us on 1300 889 743 or filling in our free assessment form.

  • Wallaby

    I really like the offers and discounts but I’m currently in a quite complicated situation so I’m not sure if I can qualify… Should I get things sorted before applying or is there a chance for me to qualify regardless?

  • The complexity of your situation is definitely a factor that determines whether or not you can qualify for home loan discounts. As for applying now or after you’ve resolved the issue, it depends on your goals, the property you’re looking to buy and the issue itself. Please call us on 1300 889 743 and discuss it with one of our pharmacist home loan specialists so you know exactly what the banks will consider a problem and whether or not you can qualify.

  • Beale

    I am an industrial pharmacist here on a skilled nominated visa subclass 190. How much will I be able to borrow to buy a house here?

  • Hey Beale,

    Under the permanent resident mortgage policy for some of our lenders, you may be able to borrow up to 95% of the property value. Please check out the permanent resident mortgage page to find out more about this:

  • Wynnum

    I would like to include my wife’s income in our home loan assessment so we can borrow more but because she’s on maternity leave right now, I’m not sure if it will be counted. Help!

  • Hi Wynnum,

    Although some banks have strict lending policies, we know lenders that can accept her income. However, there are certain requirements that must be fulfilled. Most lenders will request that you supply evidence of her employment and income through payslips (from the last 3 months prior to commencing parental leave) and a letter from her employer stating the terms of the parental leave, particularly the return date and the employment tenure upon return (full time, part time or casual).

    Please call 1300 889 743 to discuss this with one of our credit specialists and find out what options are available.

  • Talbert

    What types of pre-approvals are best avoided?

  • Hey Talbert,
    Generally, you shoul avoid non-formal, non-written applications. This includes fast thirty minutes-or-less online, or phone applications. These have far less guarantees, and will come with many conditions that you must fulfill at a later date. You should also avoid lenders that will not assess your loan application in the pre-approval process. Unless the lender gives you an unconditional approval, they are still under no obligation to loan you money.

  • Woodard

    So a formal pre-approval is best?

  • Yes, securing a formal pre-approval is the only way to make sure you can negotiate confidently with property sellers, or at auction. Without a signed letter, some sellers and real estate agents will not accept your offer, as they can not guarantee you will obtain the necessary finance. Pre-approval is not necessarily a guarantee of financing, and there are a number of banks and lenders who tend to be unreliable. You can find out more on our page about how reliable your pre-approval is:

  • Rivers

    I qualified for an interest rate discount and so a friend of mine asked me about this. Thing is, I’m not sure if she can qualify seeing as I work in private while she’s employed by the government. What is the policy regarding this?

  • Well it doesn’t matter if you’re working in the private sector or if you’re employed by the government. As long as you’re a certified professional and can meet the lender requirements, you’re able to qualify for the same professional home loan discounts.

  • Tina Fay

    What if I’m an intern pharmacist working full time. Will this still apply to me?

  • Hi Tina,
    This is assessed on a case by case basis. We’d need to see the full details of your situation to be sure if you can qualify for it.

  • Tina Fay

    Thanks for your response. Who do I contact about this.

  • Hi Tina,
    I’ll email you and cc an expert in this field. They’ll see if you qualify for the pharmacist waived LMI discounts and also other discounts (e.g. professional discounts / loan size discounts etc) that may also be suitable if you don’t qualify for waived LMI.

  • Tina Fay

    My email is calcia1000@hotmail.com

    Thank you

  • Pattina

    I am currently in partnership with my friend at a small dental clinic. I do the medical side of things while he handles the business side and marketing. Could you please tell me how we can get financing for medical equipment?

  • Hi Pattina,
    We can help you all types of medical equipment finance such as imaging equipment, examination instruments, medical monitoring devices, restorative equipment, etc. The best part is that we can help you borrow the full amount if you can use your residential property as security or by using a guarantor. You can learn more about dental practice loans here: https://www.homeloanexperts.com.au/business-loans/dental-practice-loan/.

  • Amit

    Hi there
    I am a pharmacist at San hospital in Sydney and I’ve been working here for last 10 years. Can I get a no LMI home loan? Thanks

  • Hi Amit,
    Yes I expect we can. Note that a lot of lenders such as ANZ & CBA specifically exclude pharmacists but some other lenders we have still offer waived LMI for pharmacists.
    We’d need to know more information to be sure you qualify. Are you a member of the Australian Pharmacy Council or a similar organisation? Also what qualifications do you hold?

  • Perry69

    I’m a clinical pathologist at Royal Prince Alfred Hospital. I heard that medical professionals can get no LMI home loans when borrowing up 90% of the property value. Is there any minimum income I need to be earning to qualify for 90% waived LMI?

  • Hi Perry69,
    There isn’t any income threshold for doctors and other medical professionals in order to be considered for waived Lenders Mortgage Insurance (LMI). You simply need to be fully qualified, working in an acceptable medical profession and borrow mo more than 90% of the property value. Call us on 1300 889 743; we are specialists in lending to doctors and pathologists and know which banks offered incredible home loan deals including discounted interest rates and waived LMI.