Why Choose Home Loans for Engineers?

Engineers and mining professionals enjoy exclusive benefits with our home loans for engineers due to their stable, high-income careers. Here’s why we stand out:

90% LVR, No LMI: Borrow up to 90% of the property value without LMI, saving up to $10,000 on a $500,000 loan.
Low Rates: Access discounted interest rates not available to the public.
Higher Borrowing Power: Qualify for loans up to $4 million for your engineer home loan.
Fast Approvals: Our brokers streamline the process for engineers and mining professionals.

Ready to save thousands on your mortgage? Book in for a Strategy Session Today with Professional Home Loans.

Eligibility for Engineer Home Loans

To qualify for a Home Loans for Engineer, you need:

Profession: Employed as an engineer
Employment History: At least one year with your current employer or two years of experience as an engineer.
Financial Health: A clean credit record and a stable financial position.
Deposit: Minimum 10% deposit (or joint ownership to reduce LMI).

Membership with Professional Engineering Body, such as Engineers Australia, APEA, APESMA

If you meet these criteria and are looking to buy a home to live in, you can’t afford to skip calling Professional Home Loans to see if we can help. As shown in the table below, the LMI on a $500,000 mortgage is around $8,600, and the 85% waiver will save you $7,310—equivalent to 4 years of principal payments saved! Incredible savings on the best home loan options, including the LMI waiver for engineers!

How Much Can You Save on a Engineer Home Loan?

Waiving LMI on your home loans for engineers offers significant savings:

$500,000 Loan at 90% LVR: Save ~$10,000 on standard LMI costs.
$1M Loan: Save up to $20,000 with no LMI.

Use our Loan Calculator to estimate your savings and secure the best mining professionals home loan deal!

How to Apply for a Home Loan as an Engineer

Getting started with a home loan engineers program is simple. Follow these steps:

Check Eligibility: Engineers with stable employment and a minimum income are typically eligible for our LMI waiver and discounted rates.
Contact Us: Reach out via our Contact page for a free consultation.
Submit Documents: Provide proof of income, employment details, and identification.
Get Approved: Our team will tailor a loan package and guide you to settlement.

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

FAQs - Home Loans for Engineers & Mining Professionals

Why are lenders offering this preferential deal to Mining and Engineering professionals?

The basis of Lenders Mortgage Insurance is to protect the lender against the possibility of default by its mortgage customers. However, some lenders have realised that you, as a practicing mining professional, are far less likely to default on your mortgage than other customers. Because of this, these banks are prepared to waive their LMI premium with a far lower deposit.

If I am buying with my partner/ spouse who is not a mining/ engineering professional, will I still qualify for the LMI Waiver?

Eligibility for this valuable mortgage benefit is not dependent upon both borrowers being employed in the mining profession. So long as one of you meets the eligibility criteria by your employed position, then your need to pay the LMI premium can be waived.

What loan products and interest rates available?

Taking advantage of an LMI waived offer does not limit your choice of mortgage. All of the different mortgage products will be available to you – including loans specifically designed for professional, like variable mortgages with package discounts, and fixed rate offers with features such as offset accounts and redraw. Interest rates on such mortgages are competitive, and there may be discounts of up to 1% on standard variable rates.

Additional Documentation Required

A lender will want to see some confirmation of your financial situation before making you an LMI waived mortgage offer. This documentation is:

Confirmation of your employment in the mining industry: this may be by way of a copy of your registration with the equivalent professional body as well as your employment contract;
An example would be your membership to Engineering Bodies such as Engineers Australia, APEA, APESMA

How much can I save with an LMI waiver?

For a $500,000 loan at 90% LVR, an LMI waiver can save you around $7,310, equivalent to years of principal payments.

To find out more about LMI, check Finder’s LMI Guide.

As a civil engineer, I was thrilled about a promotion but struggled to save a 20% deposit for my first home due to high living costs in Brisbane. Lenders Mortgage Insurance (LMI) seemed like a huge barrier, potentially costing me $9,000 on a $550,000 loan. I discovered Professional Home Loans and their LMI waiver for engineers, which was a game-changer. They secured me an engineer loan at 90% LVR with no LMI, saving me thousands upfront. The process was straightforward, and their team tailored the loan to my income and career stability. Now, I’m settled in my dream home without the financial stress I expected. I highly recommend Professional Home Loans to any engineer looking for affordable mortgages for engineers. Their expertise made homeownership possible for me!

Working as a mining engineer in Perth, my irregular shifts made it hard to save a large deposit while renting in a high-cost area. I was worried about paying LMI on a $700,000 loan, which could’ve added $12,000 to my costs. Professional Home Loans came to the rescue with their LMI waiver for engineers. They offered me an engineer loan with competitive rates and no LMI at 95% LVR, saving me significant upfront costs. Their team understood the unique challenges of mining professionals and fast-tracked my approval. I’m now a proud homeowner in a growing suburb, and the process was seamless. For any mining engineer seeking mortgages for engineers, Professional Home Loans is the way to go. Their tailored solutions turned my homeownership dream into reality!

As a mechanical engineer, I wanted to buy an investment property in Sydney, but my savings weren’t enough for a 20% deposit. The thought of paying LMI on a $600,000 loan—around $10,000—was daunting, especially with student loans still lingering. Professional Home Loans offered an LMI waiver for engineers, which eliminated that cost entirely. They crafted an engineer loan with a low interest rate and flexible terms that suited my financial situation. Their team guided me through every step, from eligibility checks to final approval, making a complex process feel simple. Now, I’m building wealth through property without the burden of extra costs. I can’t thank Professional Home Loans enough for their expertise in mortgages for engineers. If you’re an engineer, their tailored loans are a must!

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

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.

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

– NSW

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

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

Home Loans for Engineers & Mining Professionals: 90% LVR with No LMI