LMI, or Lender's Mortgage Insurance, is a type of insurance that safeguards the lender in case the borrower can't repay their home loan. Normally, LMI is needed when a borrower's loan-to-value ratio (LVR) exceeds 80%, indicating they're borrowing over 80% of the property's value. However, qualified medical professionals can take advantage of a specialised home loan package, allowing them to borrow up to 95% without the need for LMI. For example, if you're looking to purchase a $1.35 million property, your required deposit is just $70,000 instead of the usual $273,000 needed to avoid LMI.