CBA LMI Waiver: Commonwealth Bank Professional Packages Explained

Commonwealth Bank is Australia’s largest home lender by market share, and it offers some of the most comprehensive professional LMI waiver packages available. If you’re a doctor, dentist, lawyer, accountant, engineer, or other qualifying professional, CBA may waive Lenders Mortgage Insurance (LMI) entirely — allowing you to borrow up to 85% or 90% of a property’s value without paying a premium that could otherwise cost $10,000 to $40,000+.

This guide covers everything you need to know about CBA’s LMI waiver: which professions qualify, what the income and LVR limits are, how CBA’s Medico Plus package works, and when CBA is the best choice versus another lender.

How CBA’s Professional LMI Waiver Works

CBA’s professional LMI waiver is not a single product — it operates through several professional banking packages tailored to different occupations. The core principle is the same across all of them: if you’re in a recognised profession, CBA considers you a lower-risk borrower and waives the LMI premium that would normally apply at LVRs above 80%.

The waiver is applied during your loan application. There’s no separate application for the LMI waiver itself — CBA’s lending team confirms your eligibility based on your profession, income, and membership status, and the LMI charge is simply removed from the loan.

The waiver covers both the purchase of a new property and refinancing from another lender. If you previously paid LMI with a different bank and are refinancing to CBA above 80% LVR, CBA won’t charge you LMI again, provided you meet the professional criteria.

CBA’s Eligible Professions

CBA recognises a broad range of professions for LMI waivers. The eligible professions, maximum LVR, and specific requirements vary.

Medical and Health Professionals

CBA’s health professional packages are among the strongest in the market. The bank offers dedicated lending through its CBA Health and Medico Plus programs.

Eligible medical professionals include:

Medical practitioners (GPs, specialists, surgeons, registrars)
Dentists and dental specialists
Optometrists
Veterinarians
Pharmacists
Physiotherapists
Chiropractors
Psychologists (registered)
Podiatrists

Maximum LVR: Up to 90% for most medical professionals. Some specialists may access up to 90% LVR even on larger loan amounts where other professions face lower caps.

Membership requirement: Registration with AHPRA (Australian Health Practitioner Regulation Agency) or the relevant professional body.

Legal Professionals

CBA recognises legal professionals for LMI waivers, covering both employed lawyers and partners in law firms.

Eligible legal professionals include:

Solicitors
Barristers
Partners and directors of law firms
In-house counsel (with a practising certificate)

Maximum LVR: Up to 90% for qualifying legal professionals.

Membership requirement: Current practising certificate issued by a state or territory law society or bar association.

Accounting and Finance Professionals

CBA includes accounting professionals in its LMI waiver program, recognising the stability and earning potential of qualified accountants.

Eligible accounting professionals include:

Certified Practising Accountants (CPA)
Chartered Accountants (CA)
Fellows of CPA Australia or CA ANZ
IPA members (FIPA, MIPA) — subject to confirmation
Financial controllers and CFOs with CPA/CA designation
Registered tax agents and auditors with CPA/CA

Maximum LVR: Up to 90% for qualifying accountants.

Membership requirement: Current membership with CPA Australia, Chartered Accountants Australia and New Zealand (CA ANZ), or the Institute of Public Accountants (IPA).

Engineers

CBA recognises engineering professionals across all major disciplines.

Eligible engineers include:

Civil, structural, mechanical, electrical, chemical, and environmental engineers
Mining engineers
Engineering managers with professional qualifications

Maximum LVR: Up to 85–90% depending on the specific role and loan scenario.

Membership requirement: Membership with Engineers Australia or equivalent recognised body. A four-year accredited engineering degree is typically required.

IT Professionals

CBA extends LMI waivers to IT professionals, though with slightly more restrictive income thresholds compared to medical and legal professions.

Eligible IT professionals include:

Software engineers and developers
IT managers and CIOs
Systems architects
Data scientists and analysts (senior roles)

Maximum LVR: Typically 85% for IT professionals, though this can vary.

Income requirement: Generally higher than other professions — often $180,000+ individual income. IT professionals should confirm current thresholds.

Other Recognised Professions

CBA also considers LMI waivers for:

Actuaries (members of the Actuaries Institute)
Architects (registered with the relevant state board)
Surveyors (registered with the relevant professional body)
Pilots (commercial airline pilots)
Senior public servants (executive level)

The eligibility for these professions can be assessed on a case-by-case basis. A broker familiar with CBA’s professional lending can confirm whether your specific role qualifies.

CBA Medico Plus: The Health Professional Package

CBA’s Medico Plus package is a dedicated banking solution for medical professionals. It goes beyond the standard LMI waiver to include a suite of benefits tailored to health practitioners.

Key Features of Medico Plus

LMI waiver up to 90% LVR — No LMI on home loans up to 90% LVR for qualifying medical professionals
Discounted interest rates — Professional rate discounts that reduce the standard variable and fixed rates
Fee waivers — No establishment fees, no monthly account keeping fees on the home loan
Offset account included — 100% offset account at no additional cost
Practice finance — Dedicated lending for medical practice acquisition and fit-out
Equipment finance — Competitive rates for medical equipment
Income assessment flexibility — CBA understands medical income structures (registrar salaries, locum income, practice distributions) and assesses them accordingly

Who Qualifies for Medico Plus?

Medico Plus is specifically designed for:

Medical practitioners registered with AHPRA
Dentists registered with AHPRA
Veterinarians registered with the relevant veterinary board
Optometrists registered with AHPRA

Other health professionals (pharmacists, physiotherapists, psychologists) may qualify for CBA’s broader health professional package rather than Medico Plus specifically.

Medico Plus for Registrars and Trainees

One of CBA Medico Plus’s advantages is its willingness to consider medical registrars and trainees. Many lenders restrict professional waivers to fully qualified specialists and GPs, but CBA recognises that registrars are on a defined pathway to full qualification and typically offers the LMI waiver based on their registration status and expected career progression.

This makes CBA a particularly attractive option for doctors who are early in their career but want to enter the property market before completing specialist training.

CBA Income Requirements

CBA’s income thresholds for professional LMI waivers vary by profession:

Profession	Typical Minimum Income
Medical practitioners	$150,000+ (lower thresholds for some roles)
Dentists	$150,000+
Lawyers	$150,000+
Accountants (CPA/CA)	$150,000+
Engineers	$150,000+
IT professionals	$180,000+
Veterinarians	$120,000–$150,000+
Other health professionals	$150,000+

These thresholds are indicative and subject to change. CBA may apply different thresholds based on individual circumstances.

Important: The income threshold applies to the qualifying professional’s individual income. If you’re applying jointly with a partner who is not in a qualifying profession, their income contributes to loan serviceability but does not count towards the LMI waiver threshold.

CBA’s Maximum LVR by Profession

Profession	Max LVR (Owner-Occupied)	Max LVR (Investment)
Medical practitioners	90%	85–90%
Dentists	90%	85–90%
Lawyers	90%	85%
Accountants (CPA/CA)	90%	85%
Engineers	85–90%	85%
IT professionals	85%	80–85%
Veterinarians	90%	85%
Other health professionals	85–90%	80–85%

Investment property LVR caps are generally 5% lower than owner-occupied. Exact limits depend on loan amount and individual assessment.

How CBA Compares to Other Big Four Banks

Choosing CBA for your professional LMI waiver is a strong option, but it’s worth understanding how it stacks up against the other major lenders.

CBA vs NAB

CBA strengths: Broader range of eligible professions, dedicated Medico Plus package with additional benefits, strong assessment of registrar and trainee income, good flexibility for self-employed professionals.

NAB strengths: NAB can be more competitive on interest rates for professional packages, particularly for borrowers with larger loan amounts. NAB also has strong self-employment income assessment for practice owners.

Verdict: CBA wins on breadth of eligible professions and medical-specific features. NAB can win on rate for higher loan amounts.

CBA vs ANZ

CBA strengths: Higher maximum LVR for most professions, more inclusive list of eligible occupations, Medico Plus benefits.

ANZ strengths: ANZ may offer competitive rates and has a solid professional package. ANZ can be strong for straightforward applications with clean income documentation.

Verdict: CBA is generally the better choice for professional LMI waivers due to higher LVR caps and broader eligibility.

CBA vs Westpac

CBA strengths: More generous LVR limits, wider profession coverage, dedicated health professional packaging.

Westpac strengths: Westpac (and its subsidiaries St.George, Bank of Melbourne, BankSA) may offer competitive rates and useful loan features. Westpac can be flexible on certain income assessment scenarios.

Verdict: CBA typically offers a more comprehensive professional package. Westpac is competitive but generally not the first choice specifically for LMI waivers.

CBA vs Macquarie

CBA strengths: Larger branch network, broader range of eligible professions, Medico Plus package.

Macquarie strengths: Macquarie often offers the most competitive interest rates for professional borrowers. Its offset and redraw features are strong, and it can be more flexible with income assessment for certain professions.

Verdict: If interest rate is your priority and you qualify at both, Macquarie may win on rate. CBA wins on breadth of coverage and medical-specific packaging.

When CBA Is the Best Choice

CBA is typically the strongest option when:

You’re a medical professional, especially a registrar or trainee — CBA Medico Plus is purpose-built for this
You need 90% LVR — CBA consistently offers 90% LVR across most professions
Your profession is less common (architect, actuary, pilot) — CBA’s broader eligibility list is an advantage
You value bundled benefits — fee waivers, offset accounts, and practice finance in one package
You want branch access — CBA has the largest branch network in Australia

When Another Lender May Be Better

Consider alternatives when:

You want the lowest possible interest rate — Macquarie or a non-bank lender may undercut CBA’s rate
You’re a high-income borrower with a large loan — NAB’s pricing for $1M+ loans can be more competitive
You’re in IT — CBA’s IT professional thresholds are higher; other lenders may be more flexible
You want an online-first experience — ING or Macquarie may offer smoother digital processes

Application Process at CBA

Here’s how to apply for a CBA professional LMI waiver:

Documentation Required

Professional membership certificate — current and active
AHPRA registration (for health professionals) — or equivalent registration body
Income evidence:
- Employed: two recent payslips plus most recent tax return/PAYG summary
- Self-employed: two years of tax returns, financial statements, and ATO notice of assessment
Identification — 100 points of ID (driver’s licence, passport, Medicare card)
Property details — contract of sale (if purchasing) or property valuation (if refinancing)

Timeline

Pre-approval: 1–5 business days for a conditional approval
Full approval: 5–10 business days after providing all documentation and a property valuation
Settlement: Typically 4–6 weeks from full approval, depending on the settlement terms

Tips for a Smooth Application

Ensure your professional membership is renewed and current before applying
If self-employed, have your tax returns and financials prepared by your accountant in advance
Request a pre-approval before house hunting — this confirms your budget and LMI waiver eligibility
Work with a broker who has experience with CBA’s professional packages — they can escalate issues and navigate policy nuances

Pros and Cons of CBA for Professional Borrowers

Pros

Broadest range of eligible professions among the big four
Medico Plus is a best-in-class medical professional package
90% LVR available for most professions, including on investment properties
Registrar and trainee-friendly — recognises career progression
Large branch network for in-person service
Bundled benefits — fee waivers, offset accounts, competitive rates
Strong refinance options — no LMI charged when refinancing to CBA above 80% LVR

Cons

Interest rates may not be the lowest in the market — Macquarie and some non-banks can undercut
Processing times can be longer during peak periods (CBA processes high volumes)
IT professional thresholds are higher than some competitors
Less flexibility for non-standard incomes — CBA follows stricter income verification for some scenarios
Relationship requirements — some package benefits require maintaining a CBA transaction account

Frequently Asked Questions

What professions qualify for CBA’s LMI waiver?

CBA waives LMI for medical practitioners, dentists, veterinarians, optometrists, pharmacists, lawyers, accountants (CPA/CA), engineers, IT professionals, actuaries, architects, and several other professions. See the full list of eligible professions for more detail.

What is the maximum LVR for a CBA professional home loan?

Most professions can borrow up to 90% LVR for owner-occupied properties and 85% LVR for investment properties without paying LMI. Some professions (particularly IT) may have lower caps.

Does CBA’s Medico Plus cover medical registrars?

Yes. CBA Medico Plus recognises medical registrars and trainees, provided they are registered with AHPRA. This is a significant advantage over many other lenders that restrict waivers to fully qualified practitioners.

Can I get a CBA LMI waiver for an investment property?

Yes. CBA offers professional LMI waivers on investment properties, though the maximum LVR is typically 5% lower than for owner-occupied properties (85% vs 90% for most professions).

Is CBA’s interest rate competitive for professional packages?

CBA offers professional rate discounts, but it’s not always the cheapest option. Macquarie and some non-bank lenders may offer lower rates. The total package — including LMI waiver, features, and fees — should be compared rather than rate alone.

How long does a CBA professional home loan application take?

Pre-approval typically takes 1–5 business days. Full approval takes 5–10 business days after all documentation is provided. Settlement timing depends on the property transaction terms.

Can I switch from another bank to CBA and get the LMI waiver?

Yes. If you’re refinancing from another lender and your LVR is above 80%, CBA will waive the LMI on the refinance provided you meet the professional eligibility criteria. This is particularly valuable if you paid LMI at your previous lender.

Do I need a CBA transaction account to access the professional package?

Some CBA professional packages require or benefit from maintaining a CBA transaction account. Confirm the specific requirements with CBA or your broker.

Next Steps

CBA is a strong choice for professional borrowers, particularly medical professionals who can access the Medico Plus package. But the right lender depends on your specific profession, income, deposit, and priorities.

Check your LMI waiver eligibility — free, 60 seconds, no credit check
Estimate your LMI saving — see how much CBA’s waiver could save you
Compare all eligible professions — understand the full landscape before choosing a lender
Learn how LMI works — understand exactly what CBA is waiving and why it matters