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Re: Waived LMI and discounts to doctors

Posted: Tue Jan 29, 2019 7:41 pm
by Otto Dargan
Hi Jermaine,


Welcome to the forums.

Since oncologists are considered a preferred medical professional, you may qualify to borrow up to 100% of the property value and also avoid the cost of Lenders Mortgage Insurance (LMI).

LMI is by far the largest cost you will incur when it comes to property purchasing costs, which also includes stamp duty, government fees and legal costs like your solicitor.

Apart from saving thousands with 100% no LMI, you save even more because you don't need a deposit.

You can use whatever savings you've accumulated to help you set up your property, make extra repayments on your new mortgage or even go on a small holiday.

Please call us on 1300 889 743 or enquire online and one of our mortgage brokers will contact you to discuss doctor home loan discounts.


Cheers,
Otto

Re: Waived LMI and discounts to doctors

Posted: Tue Jan 29, 2019 8:19 pm
by Otto Dargan
Hey Jermaine,


Medical professionals, such as yourself can receive either an interest rate discount, can borrow up to 100% and avoid paying LMI, or both.

Different lenders have different offers on their home loans for doctors. So the type of discount will depend on which lender you eventually pick.

We can help build your property portfolio because you qualify for larger loan amounts.

We also have a good understanding of mortgage exposure limits so you can rapidly build your portfolio.

Overall, we know how to help build your mortgage strategy, which is just as important as your investment strategy, so you can maximise your cash flow.


Cheers,
Otto

Re: Waived LMI and discounts to doctors

Posted: Tue Jan 29, 2019 8:50 pm
by Otto Dargan
Hey,


If you’re looking to borrow more than 100% of the property value, I recommend that you apply for a guarantor home loan.

With a guarantor home loan, you can borrow 100% of the purchase price, you don’t need a deposit and you also don’t need to pay the LMI.

Your guarantor, will provide a guarantee for your home loan which is secured on their property. Once you have paid off a portion of your loan or your property has increased in value, you can apply to remove the guarantee.

If you already have a significant deposit, you may remove the guarantee in about a year or so.

Call us on 1300 889 743 or complete our online enquiry form to discover if you qualify for a guarantor home loan!


Cheers,
Otto