Doctor home loans in Adelaide and South Australia

Start with how you are paid

A lender's first question is how your income reaches you, because each answer comes with its own rules. For an Adelaide doctor, that is usually one of four ways:

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• Salaried in a hospital. Interns, junior doctors, registrars and consultants employed in an SA Health local health network such as Central Adelaide, or by a private hospital. Lenders work mainly from your payslip.

• GP registrar in a training practice. Usually an employee of the practice, paid the greater of a minimum base rate or a share of your billings.

• Sole trader in a practice or rooms. Most fellowed GPs bill under their own ABN and pay the practice a service fee out of their billings. Many specialists do private work from rooms on the same basis, paying a service fee or a fixed rent.

• Practice owner. You own the practice, often through a company or trust, and the doctors and staff who work there are employed or contracted by it.

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Many doctors mix two of these, such as a consultant with a public appointment and private rooms, or a registrar picking up locum shifts. Lenders assess each income stream separately, and this guide covers each one.

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Salaried doctors: how lenders read an SA Health payslip

Most doctors in Adelaide's public hospitals work in one of SA Health's local health networks under the SA Health Salaried Medical Officers Enterprise Agreement 2025, which sets base salary across the public system. Junior doctors and registrars share one classification, Medical Practitioner, and move up one step for each year of service, with an extra step when they start in an accredited training program.

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Base salary is the part lenders find easiest. It is fixed by a public agreement, it doesn't move from one pay to the next, and almost every lender counts all of it. The extras on the payslip are where lenders may look at things differently.

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Base salary by stage

Rates from the first full pay period on or after 14 April 2026:

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• Intern. Base salary per year: $91,757.

• Medical practitioner (junior doctors and registrars). Steps 2 to 8. Base salary per year: $99,707 to $158,523.

• Senior registrar. Steps 1 and 2. Base salary per year: $163,291 and $169,648.

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Source: SA Health Salaried Medical Officers Enterprise Agreement 2025, Schedule 1.3. Consultants are paid from a separate table and are not shown.

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The agreement runs to 20 October 2028, and its next rise, 3.25%, applies from April 2027. Lenders generally want to see at least one payslip at a new rate before they use it, so an application made just after that date is likely to be assessed on the old rate.

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Overtime, on-call and allowances

On top of base pay, a registrar's payslip can carry overtime, on-call allowances, shift penalties and other allowances. Lenders read SA Health overtime and on-call as ordinary overtime. Because doctors are essential workers, most lenders count all of it, but some shade it to 80%, and not every lender counts allowances in full. Most want to see at least three months of it on your payslips before they count it. The result is that two lenders can reach quite different borrowing figures from the same payslip.

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Rotations and contracts

Under the agreement, junior doctors, registrars and senior registrars are appointed for a minimum of three years, except to cover leave or in a few other set cases. That matters to a lender, because a contract that is close to ending can count against you.

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Lenders accept a move within the same local health network. A move to a different network depends on the lender: some accept it during an application and others don't.

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If a move changes your pay, the lender will want the change confirmed with an updated payslip and a new contract or employment letter. A change of income partway through an application can make things harder, but with enough supporting evidence it can usually be worked through, and some lenders handle it better than others.

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Lenders will also want to see your employment contract, to confirm the role is ongoing. A fixed-term contract in health counts as full-time employment, unless it is close to ending and the next contract hasn't been issued yet.

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Salary packaging

SA Health staff can salary package part of their pay, which lowers the taxable figure on the payslip. How a lender treats it depends on the lender and on what you package.

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For a novated lease, some lenders treat the lease as a repayment and use your gross pay, while others use only your net pay. Voluntary packaging is simpler, and most lenders will let it be included in your income. If your borrowing is tight, the lender you choose can make the difference. Expect to be asked for your salary packaging statement, and sometimes a letter confirming the packaging is voluntary and can be cancelled at any time.

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GPs, specialists and doctors in private practice

When your income comes through your own ABN, lenders stop working from payslips and start working from tax returns. What counts is your taxable income, after the service fee and your own costs, not what you bill. Lenders can add some items back, such as depreciation, interest, one-off expenses and super above the guarantee rate.

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GP registrars

GP registrars are the exception. Under the National Terms and Conditions for the Employment of Registrars (NTCER), you are usually an employee of your training practice, paid the greater of a minimum base rate or a share of your billings. That income comes on a payslip, and most lenders count whichever of the two you are actually paid, though some will ask for supporting documents such as the practice's billing statements, a BAS or interim figures.

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Sole traders in a practice or rooms

This is how most fellowed GPs work. You bill patients and Medicare under your own provider number, and the practice keeps a service fee, usually a percentage of what you bill. Specialists doing private work from rooms are in the same position, whether they pay a service fee or rent. Lenders treat this as self-employed income and assess it from your tax returns and notices of assessment. When your income is rising, most use the latest year by itself rather than averaging it with the year before.

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Moving from a hospital salary into a practice doesn't always mean waiting a year for a tax return. Some medico lenders (lenders with their own policies for medical professionals) can assess you from about three months in. They will want the practice's monthly billing statements, backed up by your bank statements, and may look at your BAS and your service agreement. Depending on the lender and how much your income moves around, some also want interim financials from your accountant. Other lenders will wait for a full year's tax return.

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Practice owners

Most practices have several owners. In that case lenders generally work from your personal tax return: the income the practice pays or distributes to you. If you own a practice outright, through a company or trust, the lender may look at the company or trust financials as well. For a home loan, though, the income that counts is what reaches you. The practice's own profit matters mainly when the loan is for a commercial purpose, such as buying a practice or its goodwill.

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Where financials are needed, lenders usually want the most recent year's, and some will also consider interim figures and your BAS. Expect a check of your ATO account too: any tax debt generally has to be paid before you apply. Some medico lenders offer short-term low doc loans for doctors, but not all do.

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Private practice on top of a hospital salary

Many Adelaide consultants earn both: a public appointment paid through SA Health's payroll, and private work from rooms. Lenders treat that as two income streams. Your salary is read from your payslip like any other salary. Your private rooms income is assessed as self-employed income, in the same way as a sole trader's.

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Locum shifts on top of a salaried job work the same way. Medico lenders will usually consider that income, often after about three months. Other lenders may want financial statements and tax returns, as for any self-employed income.

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SA schemes: what a doctor can and cannot use

SA's first home settings favour new homes. A first home buyer pays no stamp duty on a new home at any price and can get a $15,000 grant towards it, but gets no duty relief on an established home. None of the schemes below has an income test, which matters for doctors because medical pay rises quickly.

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Stamp duty and the first home buyer relief

A first home buyer pays no stamp duty on a new home, an apartment bought off the plan, or vacant land to build a home on, with no limit on the price. An established home attracts the full duty, whoever buys it. The main conditions are that at least one buyer is an Australian citizen or permanent resident (or a New Zealand citizen on a Special Category visa living here permanently), that neither you nor your partner has ever owned a home in Australia, and that every buyer lives in the home as their main residence for at least six continuous months, starting within 12 months of settlement. If your training could send you to a country hospital soon after you buy, check with RevenueSA before you sign. A buyer who isn't a citizen or permanent resident also pays SA's 7% foreign ownership surcharge.

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• Purchase price $500,000. New home, first home buyer: $0. Established home, or not a first home buyer: $21,330.

• Purchase price $600,000. New home, first home buyer: $0. Established home, or not a first home buyer: $26,830.

• Purchase price $700,000. New home, first home buyer: $0. Established home, or not a first home buyer: $32,330.

• Purchase price $800,000. New home, first home buyer: $0. Established home, or not a first home buyer: $37,830.

• Purchase price $1,000,000. New home, first home buyer: $0. Established home, or not a first home buyer: $48,830.

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You can run your own figures, including the land registry fees, in the Xandii stamp duty calculator, and the stamp duty guide explains each state's rules.

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Source: RevenueSA rates and first home buyer relief, as verified in the Xandii calculator on 16 September 2026. SA charges the same duty whether you live in the property or rent it out. Figures are indicative; your conveyancer confirms the duty payable.

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First Home Owner Grant: $15,000

SA pays $15,000 towards a new first home, including one bought off the plan, with no limit on its value. Established homes don't qualify.

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HomeStart's Graduate Loan

HomeStart is the SA Government's home lender. Its Graduate Loan is open to anyone in work who holds a degree, diploma or Certificate III, no matter when they earned it, so every doctor clears that bar. It lends up to 98% of the property's value, so the deposit starts at 2%, it charges no LMI, and its eligibility rules include no income limit. Total borrowing can't exceed $950,000, the home must be in SA and one you live in, and you can't own another property. You don't have to be a first home buyer.

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HomeStart also sets repayments differently from most lenders. Your repayments are fixed for a year at a level you can afford and rise each year with inflation, and the length of the loan moves with interest rates instead.

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For a doctor who qualifies for both HomeStart and a lender's medical LMI waiver, the choice turns on the deposit. With 5% or more saved, Xaviera would typically recommend the waiver, for the pricing reason below. With less than 5%, she would recommend HomeStart, which can get you into the market sooner: its minimum deposit is 2%, while the 5% Deposit Scheme and most medical LMI waivers need 5%.

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The 5% Deposit Scheme or a lender's LMI waiver

Lenders mortgage insurance (LMI) is a one-off premium most lenders charge when you borrow more than 80% of a property's value. It protects the lender, not you, and on an Adelaide house it can be a large amount.

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An Adelaide doctor with a small deposit has two common ways around it, besides HomeStart. One is the Australian Government's 5% Deposit Scheme. Since 1 October 2025 it has had no income limit and no cap on places, and in Adelaide it covers first homes up to $900,000 ($500,000 in the rest of SA), with a deposit from 5% and no LMI. The other is the LMI waiver many lenders offer eligible medical professionals, which sometimes goes to larger loans than the Government cap allows and is open to buyers who have owned a home before. To qualify, lenders generally want you to hold current AHPRA registration and be working in your profession.

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For a doctor who qualifies, Xaviera uses the waiver rather than the 5% Deposit Scheme, and the reason is pricing. A 5% Deposit Scheme loan is generally priced as a 95% loan, while a medical LMI waiver usually gets the interest rate the lender gives loans under 80% of the property's value. If you already hold a loan and want to move it, see refinancing without LMI.

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Source: firsthomebuyers.gov.au property price caps, read 8 October 2026; HomeStart Graduate Loan fact sheet and target market determination, read 8 October 2026.

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The Adelaide market in numbers

Adelaide values rose 6.5% over the year to September but have slipped since May: down 2.7% over the September quarter and 2.9% below their May 2026 peak. Cotality's index to 30 September 2026:

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• Houses. Median value: $990,531. Change over 12 months: up 6.5% (down 2.7% over the quarter).

• Units. Median value: $674,188. Change over 12 months: up 6.2% (down 2.9% over the quarter).

• All dwellings. Median value: $928,560. Change over 12 months: up 6.5% (down 2.7% over the quarter).

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Source: Cotality Home Value Index, October 2026 release, results at 30 September 2026.

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A few things follow. At the median unit price of about $674,000, a first home buyer pays about $30,900 in duty on an established unit and nothing on a new one. The median house, at about $990,000, is above the $900,000 cap on the 5% Deposit Scheme, attracts duty of about $48,300 if it is established, and needs a deposit of a little over 4% to stay within HomeStart's $950,000 borrowing limit.

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In a softer market the bank's valuation matters too. If it comes in under the contract price, your loan-to-value ratio rises, which can change whether an LMI waiver or the Government scheme applies.

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Worked example: an Adelaide registrar's first home

This is an illustration built from the figures above, not a quote. Say Dr Ferreira is a single registrar at Flinders Medical Centre, paid at Medical Practitioner step 6, a base salary of $142,627. Overtime and on-call add about $25,000 a year. She has never owned a home and is choosing between an established two-bedroom unit for $650,000 and a new apartment off the plan at the same price.

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• Stamp duty: $29,580 on the established unit, because SA gives first home buyers no relief on an established home. Nothing on the new apartment.

• First Home Owner Grant: $15,000 towards the new apartment; nothing for the established unit. Between the duty and the grant, the new apartment leaves her about $44,600 better off up front.

• Deposit and LMI: either price is under the $900,000 Adelaide cap, so the 5% Deposit Scheme would allow a $32,500 deposit with no LMI, and HomeStart's Graduate Loan would accept $13,000 on the established unit. But with current AHPRA registration she may qualify for a lender's medical LMI waiver, which usually comes with better pricing, so if she has saved 5%, that is where Xaviera would start. With less, HomeStart could get her into the market sooner.

• How much she can borrow: this depends heavily on how the lender treats her $25,000 of overtime. Most lenders would count all of it, but some shade it to 80%. On Xaviera's figures, the gap between those lenders is about $30,000 to $37,000 of borrowing power.

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You can see indicative borrowing figures across a range of lenders for your own details with the Xandii home loan comparison tool, then talk the result through with Xaviera.

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Dr Ferreira's cash needed for the established unit would be roughly the deposit, the $29,580 of duty, land registry fees and conveyancing, before any moving costs. On the new apartment the duty is nil and the grant goes towards the rest.

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Worked example: a GP in an Adelaide practice

Again, this is an illustration, not a quote. Say Dr Novak is a fellowed GP who has worked as a sole trader in an Adelaide practice for four years. Last financial year he billed $360,000 and paid the practice a 35% service fee of $126,000. After his own costs, such as insurance and registration fees, his taxable income was about $205,000, up from $175,000 the year before. He wants an established house for $950,000 and has never owned a home.

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• His income: a lender starts from the $205,000 on his latest tax return, not the $360,000 he billed, then adds back items such as depreciation. Because his income is rising, most lenders use that latest year on its own rather than an average of the two years, which would be $190,000.

• Stamp duty: $46,080 at the full rate. The house is established, so there is no first home relief.

• Deposit and LMI: the price is over the $900,000 Adelaide cap, so the 5% Deposit Scheme is out. HomeStart's Graduate Loan sets no income limit and could lend up to $931,000 with a 2% deposit. A lender's medical LMI waiver is the other way to buy with less than a 20% deposit and no LMI. If he has saved 5% ($47,500), Xaviera would typically start with the waiver; with less, HomeStart could get him into the market sooner.

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What to have ready

If you are salaried:

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• Your two most recent payslips.

• Your employment contract, and a new contract or employment letter if you are about to move to another network or your current contract is ending.

• Your last two income statements or tax returns, and notices of assessment, if your overtime and allowances matter to the application.

• Your salary packaging statement, if you package.

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If you have private practice income or own a practice:

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• Your last two years of personal tax returns and notices of assessment.

• Company or trust tax returns and the practice's financial statements, if you trade through one.

• Your service agreement and recent billing statements, if you work in someone else's practice or rooms, plus your bank statements and BAS.

• An ATO account statement showing no outstanding tax debt.

• If you are new to private practice: interim figures from your accountant, if the lender asks for them.

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Talk it through with Xaviera

Xaviera has spent the last seven years broking with medical professionals, and knows how lenders read a public hospital payslip at each stage of training, and how they read a GP's or specialist's private practice income. A short call is the quickest way to see which lenders suit your pay and which schemes you can use.