Physicians, doctors, and other medical professionals have the unique position of having an extensive list of exclusive offers from lenders as they are part of the few percentages of low-risk borrowers. This means that they are considered as clients with stable, high-income, which already puts them under a favourable light for home loans. These exclusive benefits are eligible for the following professionals:
While the prospects above have the benefit of leveraging special offers, keep in mind that all are subject to follow the same application process as everyone.
One of the most significant advantages of being a medical professional is the fact that the mortgage loan is within a little to none payment threshold. Borrowers often find this first step the biggest hurdle as preparing for the down payment usually takes years of work, while doctors, physicians, general practitioners, and more can reap the benefit of having as little as 0% for the mortgage loan.
Another significant benefit and arguably one that fast-tracks the progressing or purchasing homes is the advantage of borrowing a whopping 90% of the purchase price. While this can be possible in other professions, medical professionals have the benefit of lending without incurring mortgage insurance, which can save the applicant a large sum of their budget. Down the line, you can expect to acquire an up-front saving of thousands of dollars due to this benefit.
Because of how medical professions are attractive prospects for lenders, they are given the benefit of having a discounted interest rate and a lack of need for Lenders Mortgage Insurance (LMI). This means that if you’re planning to buy a house that is worth $900,000, not paying for an LMI means that you can save up to $25,000. Other benefits include:
Most medical professionals are highly reliable. However, not all titles are given the same benefits. Nurses, psychiatrists, psychologists, medical research scientists, and naturopaths are a few examples of those who are not eligible for home loan benefits.
However, they may still acquire certain perks such as a reduced interest rate for those who have a consistent credit score, substantial savings, as well as a steady employment history.
Borrowing money for your home loan can be a time-consuming and challenging process for many, though knowing the perks that are in line with your profession can help speed up the progress as well as help you save thousands of dollars down the line. The guide above should provide necessary information on what you can expect from a home loan for medical professionals.
If you’re looking for a medical worker loans in Australia, engage the services of a mortgage broker to aid you through this process from start to finish. We’ll take a look at your financial position and put a plan in place to ensure your home loan gets approved in the most beneficial way for yourself.
Contact us on 02 8530 1107 or Submit your scenario online
We meet for a consultation, obtain your supporting documents and proceed to structure and package your application for approval knowing exactly what the banks want to see. We also monitor your home loan post approval ensuring you’re home loan suits you and your financial position
We get paid a commission from our lenders as a result of introducing your business to them. Subsequently, our service is at no cost to you. Our commission does not affect your interest rate whatsoever, if anything, we’re in a position to get you a lower interest rate than the general public due to our relationships with our banks
With our many years experience in the industry, we’ve been exposed to both easy and complex loan scenarios. Each loan we process gets presented to over sixty financial institutions, ensuring we have explored all options possible and are able to provide a solution
Whether you’re a first home buyer looking at entering the market or an existing home owner looking at ways to save money on your home loan, we have you covered. We’ve put hundreds of hours of research into these guides to ensure you end up ahead, and it’s completely on the house.
As we all know, saving money for a deposit can be quite difficult, especially when we are in a tough spot. Moreover, if you want to use that deposit in order to get a home loan and fulfill your dream, things are probably going to get more stressful for you in no time.
The odds are that you’ve stumbled across the term lender’s mortgage insurance and you’re wondering what it stands for. Well, you’ve come to the right place. This article will clarify this term, so that you can understand what it is, the concept behind it and the approximate costs. Let’s get started!
In most cases, people will have to take a mortgage to secure a home loan for the house of their dreams. In fact, if house pricing will increase in the near future, most people that wish to buy a home will have little options in terms of proper financing.
Buying a home or a property may imply a deposit. You may come across home loans that require no deposit at all, but their approval criteria are known to be tough.
Therefore, you are left with only one thing to do – namely, to save a deposit so that you will be able to purchase a home or a property.
The odds are that you’ve stumbled across the term lender’s mortgage insurance and you’re wondering what it stands for. Well, you’ve come to the right place. This article will clarify this term, so that you can understand what it is, the concept behind it and the approximate costs. Let’s get started!
One in five Australians is self-employed. This means that there are quite some people here that are their own bosses and, in short, command over their very own businesses.
Of course, being your own boss sounds great and all, but there are a couple of things that may be uncertain for most self-employed people. For example, what do you have to go through in order to obtain a home loan?
Trustindex verifies that the original source of the review is Google. 
Trustindex verifies that the original source of the review is Google. 
Trustindex verifies that the original source of the review is Google. 
Trustindex verifies that the original source of the review is Google. 
Trustindex verifies that the original source of the review is Google. 
Trustindex verifies that the original source of the review is Google. 
Trustindex verifies that the original source of the review is Google. 
Trustindex verifies that the original source of the review is Google. 
Trustindex verifies that the original source of the review is Google. 
Trustindex verifies that the original source of the review is Google. 
What you need to know before you purchase your first property and how to fast track it. We have designed this guide to get you up to date with everything you need to know about being a first home buyer. Whether you have a short term goal of purchasing your first property or are thinking about it sometime later down the track, this guide will cover important essential aspects of this exciting journey.
What the banks won’t tell you and how to save serious money on your home loan. By Investing 10 minutes of your time to read through our guide, not only will you learn the tips and tricks the banks won’t always tell you to assist you with paying off your home loan sooner, but also gain an insight into some techniques that will allow you to minimise the interest you pay to the bank.
The best way to take control of your finances is to use a budget planner. This is a simple tool that helps you understand the money going in and out of your household. With our Highline Lending Budget Planner, we’ve got you covered. This handy tool allows you to log and track your goals, track your savings, track your debt and expenses and keep a monthly record for an end of year evaluation.
