How a professional loan could save you $20,000
If you shuffle between important meetings at work and are responsible for making big decisions, then the odds are, you’re working in a professional capacity. And if this is the case, you could stand to save tens of thousands of dollars when you decide to buy your next home or investment property.
A professional home loan package can help save you a significant amount off the cost of your loan. Why? Because lenders want to attract low-risk borrowers and high-income earners, so they offer special features and rates that aren’t always available to the general public.
Could You Qualify for a Professional Home Loan Package and What Are the Benefits?
Who is Considered a Professional?
Professional home loan packages were once restricted to medical professionals like doctors and dentists, lawyers, and accountants, but now they are available to a broader range of professionals. Teachers, nurses, defense force personnel, scientists and engineers are among the most widely recognized professions.
Interest Rate Discounts
People who qualify for a professional home loan package are eligible for significant interest rate discounts. This can lead to substantial annual savings.
Many professionals can qualify for waived Lenders Mortgage Insurance (LMI) up to certain Loan-to-Value Ratios (LVRs), leading to significant savings.
Reduction of Fees
Lenders often waive application fees on professional home loan packages, leading to further savings. Additionally, bundling different products can lead to reduced fees and interest rates.
Professional packages often come with added flexibility, such as offset accounts and the option to make additional payments without penalty.
At Professional Home Loans, we have developed strong relationships with various lenders who offer options tailored to professionals. If you’re ready to buy and you want to save money on your home loan, call us today on 1300 55 44 97 to discuss your options.