Looking for a straightforward guide to home loans for accountants?
You’ve landed in the right place. In this complete guide for 2025, we’ll dive into the most effective home loan strategies specifically designed for accounting professionals.
I’ve helped hundreds of accountants save thousands and get better interest rates, and I’d love to help you too.
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Table of Contents
Home Loan Benefits for Accountants
Banks see accountants as low-risk and responsible with money. So they offer accountants special perks and discounts on home loans. Here are the two main ones:
1. Save on Lenders Mortgage Insurance (LMI)
Lenders Mortgage Insurance (LMI) can be a significant expense when purchasing a property.
Fortunately, as an accountant, you may be eligible for waived LMI, allowing you to save thousands of dollars.
Why is an LMI Waiver such a big deal?
Lenders Mortgage Insurance (LMI) comes into play when you have less than a 20% deposit. The lender will put in place LMI as protection should the you default on their loan and not be able to pay it back.
LMI can add thousands to tens of thousands of dollars to your loan, depending on its size of it.
What savings will I make on LMI?
As a general idea, you could save anywhere between under $15,000 to $36,000.
See Finder.com table below for details.
2. Special Rate Discounts
If you’re an accountant who doesn’t qualify for a waived LMI premium, or if you’re borrowing less than 80% of your property’s value, don’t worry.
We have something special for you too.
We can provide exclusive interest rate discounts on your home loan.
The size of your discount will be based on three key factors:
- The total amount of your loan.
- How much of the property’s value you’re borrowing.
- Your professional association memberships and academic qualifications
If you’d like to know more, give us a call on 1300 088 065 or contact us to get a free assessment.
Income Requirements for Waived LMI
There are a couple of criteria that you need to fulfil in order to get your waived LMI discount as an accountant. The first is your income.
To be eligible for waived LMI, you must meet certain income requirements, which vary by state. Here are the requirements:
Your total income can include rental income, but not your spouse’s income, unless they are also an eligible accounting professional.
If you don’t meet this income requirement, then your total household income must be over $150,000.
Eligibility Criteria for LMI Waiver
Aside from your income, the other factor in your eligibility is your job title and industry membership. Here’s what you will need:
Job Titles
To be eligible, your job title should be one of the following:
- Accountant
- Actuary
- Auditor
- Chief Financial Officer
- Director
- Finance Director
- Finance Manager
- Financial Controller
- Partner
Your job title doesn’t have to be an exact match, as long as you are still performing one of the above roles.
Industry Membership
You will also need to be able to prove you’re a part of the leading accounting associations. You must be a CPA, CA, CFA or FIAA and be registered with:
- Chartered Accountants Australian and New Zealand (CAANZ)
- CPA Australia (CPA)
- Chartered Financial Analyst Institute Australia (CFA)
- Institute of Actuaries of Australia (FIAA)
- Institute of Public Accountants (IPA)
Evidence of Membership
You can prove your membership with any of the following:
- Receipt for payment of annual membership
- Current valid membership card
- Written confirmation from the listed association
- Practising Certificate
How Much Can I Borrow?
If you qualify in the above criteria, then you will be able to borrow:
- up to 90% of the property value with no LMI.
- up to $2 million for a home or investment property.
- if you are an accountant borrowing with a guarantor, you will be able to borrow between 100% to 105% of the property value.
Which Lender is Right for You?
Each lender provides different interest rates and deals for accountants. So it’s essential to do your research.
How to compare home loans for accountants
Firstly, speak to your mortgage broker about how to choose the right loan for you.
There can be so many loopholes and small differences between lenders. Chat to someone who knows the industry inside and out.
We can help you with this at Hunter Galloway.
The key points to look for when choosing a lender that’s right for you are:
- Lenders mortgage insurance: As I said above, as a qualified accountant that meets the criteria, you will be able to borrow up to 90% LVR. Without having to pay LMI.
- Interest rates: Your interest rates add to your total loan. So a tiny difference can add a noticeable amount of money to your mortgage. See what discounts are available to accountants because every little bit counts.
- Home loan fees: These can be a bit of a sting, so always double-check. This is where a mortgage broker comes in handy.
Extra features: Keep in mind other features that will make your life easy. This includes additional repayment options, redraw facility and offset accounts.
Which banks offer great deals for accountants?
When it comes to choosing the right lender, the key thing to understand is this: every bank has their own policies and preferences, and they change all the time.
Here are the main lenders that are providing deals for accountants:
- ANZ Bank
- Bank of Queensland
- St. George
- Commonwealth Bank (CBA)
- Westpac
You could approach each of these banks to see what they can do for you… but why do all of that hard work yourself?
Chat to us at Hunter Galloway and we’ll do all of the work in finding you the best deal.
How it Works for Partners in Accounting Firms
The process for applying for an LMI Waiver is a little different if you’re a partner in an accounting firm, versus being an employee.
Partners share all of the businesses assets and liabilities, so banks are usually a bit wary about lending to people who are partners.
Typically, a bank would ask you to provide the financial statements and tax returns for any business which you have a shareholding in that generates more than 25% of your income.
But, if you’re a partner in an accounting firm, we can get this requirement waived.
You will still need to provide proof of income. Here’s how:
Proving your income as a partner
In most cases, you will need to provide your personal tax returns and notices of assessment for the last two years.
If you are a partner in one of the larger accounting firms, you may be able to just provide a letter of email from your Administration Manager.
Here are the firms that qualify for this:
- Ernst & Young
- KPMG
- Minter Ellison
- Allens Arthur Robinson
- Gadens
- Henry Davis York
- Corrs Chambers Westgarth
- Freehills
- Mallesons Stephen Jacques
- Clayton Utz
- PKF
- PWC
- Deloitte
- McGrath Nicol
- Grant Thornton
FAQs
Waived Lenders Mortgage Insurance (LMI) means that as an accountant, you may not have to pay the usual insurance fee required when borrowing more than 80% of a property’s value. This can lead to significant savings, especially if you’re building a property portfolio.
Yes, accountants may qualify for special interest rate discounts depending on the loan size, loan-to-value ratio, and their industry membership and qualifications.
The income requirements for waived LMI vary by state. In general, you need to earn a minimum of $120,000 to $150,000, which can include rental income but not a spouse’s income unless they are also in the accounting profession.
Eligible job titles include accountant, actuary, auditor, Chief Financial Officer, director, finance director, finance manager, financial controller, and partner, with some flexibility for minor variations in titles.
Recognized industry memberships include CAANZ, CPA Australia, CFA Institute Australia, FIAA, IPA, and others considered on a case-by-case basis.
Acceptable evidence includes a receipt for payment of annual membership fees, a current valid membership card, written confirmation from the association, or a Practising Certificate.
Partners in accounting firms can provide personal tax returns, notices of assessment, or recent payslips. For larger firms, a letter from the firm’s Administration Manager may suffice.
Yes, overseas qualifications equivalent to Australian standards are generally accepted, but they are reviewed on a case-by-case basis.
You can start the application process by calling us at 1300 088 065 or booking a free assessment online through our website.
Apply for an Accountant Home Loan
As an accountant, you understand the value of expert advice.
Choosing Hunter Galloway for your home loan isn’t just about securing finance; it’s about partnering with specialists who understand your unique professional needs.
Why navigate the complex world of home loans alone when you can have a dedicated team at your side?
Our expertise means tailored solutions, competitive rates, and a smoother, more efficient process.
Take the first step towards effortless home financing.
Call us now on 1300 088 065 or contact us for a free assessment to discuss your options. Let’s make your home ownership journey as strategic and successful as you are.
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