The loan-to-value ratio (LVR) is another way of defining the minimum deposit you have to save. Banks prefer a maximum LVR of 80%, meaning you need a 20% deposit. Many loans also have a maximum insured LVR of up to 95%. This means that you can get the loan with a smaller deposit, but you will need to pay lenders mortgage insurance (LMI) if your deposit is under 20%. Some professions enable higher LVRs without the need for LMI. Typically these professions include doctors, lawyers and accountants, and more recently police officers, nurses and other university trained occupations, but different banks have different policies in relation to this benefit.