Buy Your First Home On A PGY1/PGY2 Hospital Contract Without Paying $30k+ In LMI
You just graduated from medical school. You're working exhausting 14-hour intern and resident shifts, rotating through emergency, surgical, and medical wards every 10 to 12 weeks. You're ready to stop paying rent and buy your first property, but you only have a 5% deposit saved and your state hospital contract is newly signed.
Standard high-street banks will reject your application or demand that you complete 6 to 12 months on the ward before they even look at your payslips. Worse, they'll try to slap you with $35,000 in Lenders Mortgage Insurance because you don't have a 20% deposit.
Specialized institutional medical desks approve hospital interns, JMOs, and junior registrars for 95% LVR mortgages with $0 LMI from Day 1 of your hospital contract—even before your first shift commences.
Here is how we help: We match you with an accredited medical broker who will take your signed hospital appointment letter, secure formal underwritten pre-approval, and ensure you escape the rental market with zero LMI fees.
How It Works (Takes 2 Minutes)
1. The 'No Prior Employment' Rule for Medical Interns
For standard borrowers, Australian banks require 6 to 12 months in a continuous job before approving a home loan. However, for PGY1 Interns and PGY2 RMOs, specialist medical credit desks waive all probation and employment length requirements.
A confirmed Letter of Offer from a public hospital health district is accepted as proof of permanent income, allowing junior doctors to buy a home before their first hospital rotation begins.
Intern & RMO Doctor Borrowing Simulator
Calculate your junior doctor borrowing power and immediate LMI savings.
| Medical Grade | Accepted Contract Type | Max LVR ($0 LMI) | Probation Period Rule |
|---|---|---|---|
| PGY1 Medical Intern | 12-Month Public Health Offer | Up to 90% LVR | 🛡️ 0 Days Probation Needed |
| PGY2 Resident Medical Officer | State Health Service Contract | Up to 90% LVR | 🛡️ 100% Overtime Counted |
| Registrar / Advanced Trainee | Specialist Training Contract | Up to 90% - 95% LVR | ⚡ $4.5M Max Loan Size |
2. 90% LVR with $0 LMI for Junior Doctors
Junior doctors receive full access to 90% LVR $0 LMI waivers, saving over $25,000 in upfront cash while purchasing close to their training hospital.
Mortgage Specialists
Accredited credit representatives independently verified against the ASIC Professional Register. Governed by statutory Best Interests Duty (BID) with direct wholesale lender desk access.
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"Can I get pre-approval for a home loan before my medical internship starts in January?"