Written and reviewed by John Pierre Saliba, Director and Senior Finance Broker, MFAA Accredited, ACL 511092. Last reviewed 8 October 2026.
Key facts
| Maximum LVR without LMI | Typically up to 90% of the property value, subject to lender assessment |
| Who qualifies | Accountants holding current CPA Australia or Chartered Accountant (CA) membership; some lenders also accept IPA members |
| Common income threshold | Often around $150,000 per year, varies by lender and by how income is counted |
| Documents usually requested | Evidence of current membership, two recent payslips, ID, bank statements, sometimes an employment letter |
| Typical approval timeline | 2-4 weeks from application to formal approval for straightforward PAYG applications |
Do Accountants Pay LMI in Australia in 2026?
Not always. A number of lenders waive lenders mortgage insurance for qualified accountants borrowing up to 90% of a property's value, where most borrowers would pay LMI on anything above 80%. On a typical Sydney purchase that waiver is worth five figures.
The policy started with medical professionals and has been extended by several lenders to accountants, lawyers and other professions they consider low risk. The logic is simple: stable, well-documented professional income means fewer defaults, so the lender is prepared to carry the extra 10% of the loan without insuring it. The waiver is a lender policy, not a right, so eligibility rules differ and can change. That is exactly the gap a broker covers: I keep track of which lenders currently run an accountant waiver and on what terms.
Which Accountants Qualify for an LMI Waiver in 2026?
The common requirement is full membership of CPA Australia or Chartered Accountants Australia and New Zealand, with some lenders also accepting Institute of Public Accountants members. Provisional or student membership generally does not qualify.
Employed accountants in most roles can qualify: financial accountants, management accountants, auditors, tax accountants, finance managers and CFOs. The waiver follows the qualification rather than the job title, but a small number of lenders do restrict it to defined role lists, so it pays to check policy before you apply rather than after a decline. If you work for a Big 4 firm, our Big 4 accounting professionals page covers bonus income and secondments in detail. If you hold equity in your firm, the rules change significantly; see home loans for accounting firm partners.
What Income Do Lenders Require for an Accountant LMI Waiver in 2026?
Most lenders that offer the waiver set a minimum income of around $150,000 per year, though the exact figure and what counts toward it varies by lender and is always subject to assessment.
The differences in how income is counted matter more than the headline number. Some lenders assess base salary only. Others include superannuation, car allowances or a documented bonus. A few will assess household income jointly where your partner is on the loan. An accountant on a $135,000 base with a $20,000 package of super and bonus may fail one lender's test and pass another's on the same payslips. Before any application, I map your income against each lender's current definition so we apply once, to the right lender.
The most common mistake I see from accountants is assuming every lender runs the same waiver. One lender wants CPA or CA only, another accepts IPA; one counts bonus income toward the threshold, another does not; one caps the waived loan amount, another does not. A declined application still leaves an enquiry on your credit file. I check current lender policy first so your file only ever sees one, well-aimed application.
How Much Does an LMI Waiver Save an Accountant Buying in Sydney?
On a $900,000 purchase with a 10% deposit, the waiver typically saves roughly $15,000 to $20,000 in LMI. Here is the arithmetic:
- Purchase price (Sydney unit): $900,000
- Deposit (10%): $90,000
- Loan amount: $810,000 (90% LVR)
- LMI normally payable at 90% LVR: approximately $15,000 to $20,000, depending on lender and insurer
- LMI with a professional waiver: $0
- Extra years saving to reach a 20% deposit instead: a further $90,000 of savings avoided
Figures are illustrative only and will vary with the lender, insurer and your circumstances. Run your own numbers with our LMI calculator and borrowing power calculator.
The saving is not just the premium. Waiting to save a 20% deposit in a rising market can cost more than LMI ever would, and capitalising LMI into the loan means paying interest on it for up to 30 years. The waiver removes both problems: you buy sooner with 10% down and borrow nothing extra for insurance.
What Documents Do Employed Accountants Need for a Home Loan in 2026?
For a PAYG accountant the document list is short, which is one reason these applications usually move quickly:
- Evidence of current CPA, CA or (with some lenders) IPA membership
- Two most recent payslips, and sometimes a letter of employment
- Most recent payment summary or tax return if bonus income is being counted
- Photo ID and three months of transaction and savings statements
- Statements for any existing loans, credit cards or HECS-HELP balance
Lender requirements differ slightly and all lending is subject to assessment, but with a complete file most accountant applications reach formal approval within 2-4 weeks.
How Do I Apply for an Accountant Home Loan in Sydney?
The process with us takes four steps and costs you nothing: a 15-minute call to confirm eligibility, a borrowing power and lender shortlist review, one application to the best-fit lender, then approval and settlement. As credit assistance providers we are bound by the Best Interests Duty, so the recommendation is driven by your interests, not any lender's.
You can compare the full range of professions we arrange waivers for at our professional LMI waiver hub, or go straight to contact to get started.
Book a free 15-minute call with John Pierre Saliba
No cost, no obligation. Find out in one call whether your membership and income qualify you for a 90% no-LMI loan.
