Fast Home Loan Approval For Professionals & Save Thousands With Full Waiver Of LMI Premium For Professionals & Save Thousands With Full Waiver Of LMI Premium

Professional Home Loans – without paying Lenders Mortgage Insurance

Please note this policy applies to Australian Permanent Residents or Citizens, living and working in Australia. If you are earning an annual income of 150k or more (no min income if Vet, Doctor or Optometrist) and are in one of the following categories of professionals, then you may be eligible to get a home loan up to 90% LVR (that is, with only a 10% deposit) and not pay any lenders mortgage insurance (‘LMI’). This is a potential savings of $10,000 – $40,000 depending on the purchase price of the property. We have semi exclusive agreements to offer this product to our clients. This professional offer is not available to general mortgage brokers so please contact us on 1300 55 44 97 to see if we can help.

What professionals can waive the Lenders Mortgage Insurance?

The following are considered to be high demand professional occupations and as such, may be eligible for waiver of the lenders mortgage insurance premium:

Click on the menu link to the right to read more about the offer for your profession.

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

What is the criteria?

See the individual pages for specific information regarding the qualification criteria for your particular profession. The overall main criteria to qualify for this policy is:

As with any rule, there are exceptions. For example, if we had a professional couple who were earning 100k each, then we still may be able to qualify for LMI waiver.

What if I do not meet this criteria?

If we do not believe you meet the above criteria, we may still be able to help. Whilst lenders mortgage insurance is required if you do not have a 20% deposit, we may still be able to assist with a home loan for strong applicants up to 85% with no lenders mortgage insurance premium payable.

Interest Rate Discounts:

Loan products available include standard variable with package discounts and fixed rates and include offerings with full features such as offset accounts and redraw.

Why are some banks waiving LMI for high demand professions?

Lenders mortgage insurance is designed to protect the lender against default of the client and to cover any loss should the client not pay back the mortgage. Lenders mortgage insurance is typically required when the purchaser does not have a 20% deposit. More information here on the purpose of lenders mortgage insurance. Some lenders have run the numbers and have determined that the default rate on home loans for certain professions is at near 0%. As such, the risk of default from these professions is low and therefore they have decided to consider waiving the LMI premium.

What is the next step?

This offer is not available to the general mortgage broker market. Further, all applications for LMI waiver are considered on a case by case basis. If you would like to find out if you qualify please give us a call on 1300 55 44 97 or submit an online enquiry or book in for a 30 minute strategy session.

Check our blog to get more general information about home loans.

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

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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

– Physio
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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

– 90% no LMI Brisbane, QLD.
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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

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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)

– Sunshine Coast QLD
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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. “

Arlyn (Doctor)
– Townsville QLD