LMI Waiver Unlocked: Tailored for Australia’s Finance Professionals
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LMI Waiver for Accountants and Finance Professionals in Australia
CPA Australia members, Chartered Accountants and IPA members can buy a home with a 10% deposit and pay zero Lenders Mortgage Insurance. This guide covers which roles qualify, what membership you need and how to apply.
Most accountants and finance professionals know they need a 20 percent deposit to avoid LMI. What many do not know is that their professional membership changes that rule entirely.
CPA Australia members, Chartered Accountants and IPA members can borrow up to 90 percent of a property’s value and pay no LMI. A 10 percent deposit is enough. The waiver is not limited to general accountants. CFOs, financial controllers and actuaries may also qualify, provided they hold the right membership.
Which Accounting and Finance Roles Qualify?
Eligibility depends on your professional body membership, not just your job title. The three recognised bodies for this waiver are CPA Australia, CA ANZ and the IPA. Your membership certificate must be current at the time of application.
Accounting Professionals
- Certified Practising Accountants (CPA Australia)
- Chartered Accountants (CA ANZ)
- Institute of Public Accountants members (IPA)
Finance Professionals
- Actuaries (FIAA)
- Auditors
- Chief Financial Officers
Financial Management Roles
- Finance Managers
- Financial Controllers
- Finance Directors
| Maximum LVR | LMI Payable | Minimum Deposit | Membership Required |
|---|---|---|---|
| 90% | $0 | 10% | CPA Australia, CA ANZ or IPA |
What Are the Income and Property Requirements?
Income thresholds and property value caps vary between lenders. Not every lender publishes the same criteria. Some require a minimum income and others focus primarily on membership status and loan serviceability. Your broker will match you to the lender whose criteria best fit your income and purchase price.
What You Need to Apply
Lenders require your membership certificate to be current on the date you submit your application. You also need income evidence. For salaried employees this means recent payslips. For business owners or partners, it means tax returns and financial statements. Standard identity and deposit documents complete the application.
Your broker at Laxmi Home Loans will provide a full document checklist before you begin the process.
How Much Can You Save?
| Purchase Price | Deposit | LVR | Estimated LMI Without Waiver | With Waiver |
|---|---|---|---|---|
| $700,000 | $70,000 (10%) | 90% | $10,000 to $14,000+ | $0 |
| $900,000 | $90,000 (10%) | 90% | $13,000 to $18,000+ | $0 |
| $1,200,000 | $120,000 (10%) | 90% | $18,000 to $24,000+ | $0 |
LMI estimates are indicative only. Actual premiums depend on the lender, loan type and your LVR. To understand what LVR means for your home loan, read our plain-English guide.
Using the Waiver for Investment Property
The accounting and finance professional LMI waiver applies to both owner-occupied and investment purchases with most participating lenders. If you are a CPA or CA ANZ member looking to enter the investment market with a 10 percent deposit and no LMI, this is a significant opportunity.
We have a dedicated article covering this exact scenario: CPA investment property purchase with 10% deposit and no LMI.
Investment property with a 10% deposit and no LMI
A CA ANZ member working as a financial controller came to us wanting to buy an investment property in Sydney. He had 10 percent of the purchase price saved and did not want to wait to reach 20 percent. We confirmed his membership, matched him with a lender offering the waiver for his role and income, and he settled on his investment property without paying a dollar of LMI. He saved over $15,000 in upfront costs and entered the market on his own timeline.
Frequently Asked Questions
Do accountants qualify for an LMI waiver in Australia?
Yes. CPA Australia members, Chartered Accountants (CA ANZ) and IPA members can access an LMI waiver at up to 90% LVR with selected lenders. A 10% deposit is required. Income thresholds and property caps may apply depending on the lender.
Can a CPA buy a home with a 10% deposit and no LMI?
Yes. CPA Australia members qualify for an LMI waiver at up to 90% LVR with participating lenders. Your membership certificate must be current at the time of application. Subject to lender approval and eligibility criteria.
Does a CFO or Finance Director qualify for an LMI waiver?
Yes. Chief Financial Officers, Finance Directors and Financial Controllers may qualify, provided they hold a current membership with CPA Australia, CA ANZ or the IPA. Eligibility is based on membership status and role, not job title alone.
What professional body do I need to be a member of?
The three recognised bodies for this waiver are CPA Australia, the Chartered Accountants Australia and New Zealand (CA ANZ) and the Institute of Public Accountants (IPA). Membership must be current at the date of application.
Does the waiver apply to investment property as well as owner-occupied?
Yes. Most participating lenders extend the professional LMI waiver to both owner-occupied and investment purchases. Some lenders apply different conditions for each purpose. Your broker will confirm what applies before you submit.
What documents do accountants need for an LMI waiver application?
You need your current professional body membership certificate, recent payslips or a signed employment contract, and standard identity and deposit documents. Business owners and partners will also need tax returns and financial statements for the most recent two years.
This article contains general information only. It does not consider your personal financial circumstances, objectives or needs. You should consider whether this information is appropriate for you before acting on it.
LMI waiver eligibility is subject to lender approval, individual eligibility criteria and property-specific conditions. Membership requirements, income thresholds and property caps vary between lenders and may change without notice. All loan applications are subject to credit assessment and lender approval.
Mero Chino Groups Pty Ltd T/As Laxmi Home Loans, ABN 76 169 013 012, Credit Representative Number 476974, authorised under Australian Credit Licence Number 383640.
