What is the secret home loan that the banks won’t tell you about and only 5 per cent of mortgage brokers can arrange? A doctor loan!
In a recent interview with The Daily Telegraph, Home Loan Experts senior mortgage broker Hank (Hoa) Hong explains how medical professionals with no genuine savings and only a 5% deposit may be eligible for waived Lenders Mortgage Insurance (LMI), a potential saving of tens of thousands of dollars on a typical 30 year mortgage.
Not many Australians know that you don’t necessarily need to be a doctor to get the same treatment. In fact, a number of brokerages – including Home Loan Experts – have since widened their qualifying professions for these special deals to now include accountants, lawyers and engineers.
Having an annual income of $150,000 or more and specifying that you are part of a professional association (whether you are a doctor, physiotherapist, chiropractor, vet, dentist, optometrist, accountant, lawyer or engineer) definitely goes a long way in getting access to these amazing offers.
To find out if you are eligible for these deals, speak to a mortgage broker because it’s much harder to get these deals by going through a bank or lender directly.
Home Loan Experts is one of the 5% of brokerage firms that has special lending arrangements which include interest rates below the bank’s Standard Variable Rate (SVR) and extra loan facilities.
We’ve recognised the growing trend towards providing tailored finance for doctors and medical professionals and have recently setup a page that can tell you what medical industry discounts you may be eligible for.
Are you a doctor thinking about buying a property and want to know more?
Call one of expert brokers on 1300 889 743 for a private consultation or follow this link for further information on our services and to start your free assessment.