Last Updated: 27th December, 2018

How Can Doctors Get The VIP Home Loan Treatment?

Published by Otto Dargan on August 8, 2014

How Can Doctors Get The VIP Home Loan Treatment infographic

How Can Doctors Get The VIP Home Loan Treatment?

Doctors are amazing because they heal people and save lives. With that wisdom they’ve also proven to be low risk borrowers with great incomes. Australian banks and lenders, in particular, appreciate that they always pay back their loans on time and often end up as repeat customers.

As such, the banks are ready to give medical professionals great deals on their home loans, from discounted interest rates to no LMI loans.

Discounted rate or waived LMI?

If you are borrowing over 80% of the property value, you would usually have to pay Lenders Mortgage Insurance (LMI). This can amount to over $24,000 for a $1 million property!

Luckily for you we can negotiate with our lenders and get this fee waived so that you can set the money aside for your yearly vacation.

If you have significant savings and are able to borrow less than 80% of the property value then our mortgage brokers can get you a fantastic interest rate instead. The bigger the loan, the bigger the discount will be. Not bad!

Just so you know these deals are rarely advertised to the public so don’t be surprised if your bank doesn’t tell you about them!

Who can qualify?

The following types of doctors can qualify for these great deals:

  • Chiropractors
  • Physiotherapists
  • Veterinarians
  • Psychiatrists
  • Optometrists
  • Specialists
  • Dentists
  • Pharmacists
  • Others

You will also need to be a member of an industry body such as the Australian Medical Association. As for your residency status, you or your partner must be an Australian citizen or permanent resident. We can help non-residents and temporary residents on a case-by-case basis.

If you are unsure whether you qualify, please complete this free assessment form and we can tell you.

Who cannot qualify?

The following medical professionals cannot qualify for these discounts:

  • Medical students
  • Psychologists
  • Paramedics
  • Nurses

Fortunately, we can still help you get a great interest rate or LMI discount!

Why pay more?

Why pay more than you have to? Be rewarded for your job status and income! Call us today on 1300 889 743 or fill in our free assessment form and let our expert mortgage brokers get you a kickass home loan.

labelCategory: Infographics