If You’re A Doctor You Already Qualify For Fast Home Loan Approval and Preferential Treatment…
For Doctors who are Australian citizens or residents:
- Borrow up to 95% of the purchase price
- Zero Lenders Mortgage
- Discounted interest rates
- No cost, no obligation service
Mortgage Approvals Can Be Fast & Easy
Now, You Can Qualify for Discounted Interest Rates and Zero Lenders Mortgage Insurance Because of Your Profession.
Why Doctors Get Special Treatment for their Home Loans
Australian lenders view doctors as low-risk borrowers with substantial incomes. This leads to special discounts on home loans for you. This favourable perception often drives lenders to compete for the business of doctors.
The specific interest rate discount that may be available to you will depend on various factors:
– Industry Association Membership: Affiliation with certain industry bodies may offer exclusive benefits.
– Income Level: Your annual income can influence the lender’s willingness to offer competitive rates.
– Loan Size: The amount you wish to borrow can also affect the discount rate.
Understanding these factors can provide valuable insights into the unique opportunities available to medical professionals seeking home loans. Leveraging this knowledge of home loans for medical practitioners can help in securing financial products tailored to the specific needs and qualifications of doctors and other healthcare providers. You can also download our professionals free finance report for a clear guidance.
Membership Associations
You must be a member and/or registered with one of the following associations to qualify for the LMI waiver:
Australian Association of Practice Managers (AAPM)
Australian Health Practioner Regulation Agency (AHPRA)
Australian Medical Association (AMA)
College of Intensive Care Medicine of Australia and New Zealand (CICM)
Medical Practitioners Board of Australia
Royal Australasian College of Medical Administrators (RACMA)
Royal Australasian College of Physicians (RACP)
The Royal Australian College of General Practitioners (RACGP)
Who Qualifies For This Loan?
Doctors who demonstrate that they meet the following eligibility criteria:
- You’ll need to provide proof of registration with the Medical Board of Australia;
- Your property purchase must be either owner occupied or for investment purposes;
- The maximum loan amount is $2 million;
What if I do not meet this criteria?
Don’t despair, because it’s likely we’ll still be able to help you. We may still be able to arrange a home loan up to 90% with no LMI premium payable.
Examples of doctors using this policy
You could top up your existing home loan to 95% and pay no LMI. This would release surplus funds which you can then use to fund the 10% deposit plus costs on a new investment (or owner occupied) property. Providing the total transaction amount is below $2 million, you’ll have no LMI to pay. Not only that, we can source loan products specifically designed for doctors. These include standard variable mortgages with package discounts, and fixed rate offers with features such as offset accounts and redraw.
Why are some banks waiving LMI for doctors?
LMI is designed to protect the lender against the possibility of default by its mortgage customers. However, some lenders have realised the chance of you, as a professionally qualified and respected practising doctor, defaulting is relatively low. Because of this, these banks are prepared to consider waiving the LMI premiums.
What is the next step?
Remember, there are only a limited number of firms authorised to offer you these valuable benefits. Here at Professional Home Loans we are leaders in this specialised area.
There is no cost for our service and absolutely no obligation.
Only certain firms are authorised to provide this special benefit. Click on your profession to the right to learn more or Call 1300 55 44 97 today to learn how we can help make your hard work and professional experience pay off!
Remember, only certain brokers are authorised to provide this special benefit.
Free 30-Minute Finance Strategy Session For Professionals
Discover How To Get Approved With A Lower Interest Rate & Save Up To $40,000 In Fees
Getting a home loan was really simple with Professional Home Loans.
“We went overseas during settlement and it was not a problem for them, everything went smoothly and I’m writing this from my new home! “
Jack Clancy
Well done you made it easy with no BS.
“Couldn’t ask for a better job – until next time (although no time soon, moving was awful). “
Accountant, Mick and Vanessa Renton
No LMI for building home in Sydney as well as 90% LVR no lmi for investment proerpty off the plan in Newcastle.
“Professional Home Loans has provided us with a very professional service, communicating all the available options to us and in the process he has literally saved us $75k that we would have otherwise paid. They certainly go beyond the call of duty. “
Hamilton (Accountant) & Nyari (Doctor) Sydney
Working for QLD Health achieved 90% LVR no LMI at normal rates - From UK. Sunshine Coast, QLD
“We were able to get a loan at a good rate and avoid paying LMI which saved us several thousand dollars that we can now put towards other things. Very helpful and informative about all aspects of the process, not just the loan, which we really appreciated as it made the whole thing a lot easier for us.”
Craig and Louise (Medical Registrars)
On a contracting basis – she got paid roughly 70% of what she billed.
“We assisted Arlyn with a 90% Mortgage with No Lenders Mortgage Insurance payable so she could buy a house and land package Thanks so much. All credits goes back to you as you helped me make all this happen. I couldn’t thank you enough for the job excellently done. “