Do I qualify for a waived LMI home loan?

Any general questions you might have in regards to loans and finance.
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Otto Dargan
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Re: Do I qualify for a waived LMI home loan?

Post by Otto Dargan »

Hello Bodhi. Welcome to the forums.

Dentists and other dental practitioners including orthodontists are eligible to borrow up to 100% with waived Lenders Mortgage Insurance (LMI).

You typically need to be a member of either the Australian Dental Association (ADA) or the Australian Dental Council (ADC). However, other industry association may be accepted.

Without knowing your entire financial situation, you do certainly sound like a low-risk borrower and you may qualify for negotiated interest rate discounts.

Having a deposit of that size means that you're borrowing around 90% of the property value and this will help your case.

With an experienced mortgage broker speaking with the right lender, you'll also have a good chance at getting some fees and charged waived as well.
Talk to our specialist mortgage brokers by calling 1300 889 743 or fill in our free online assessment form to find out if you qualify for a waived LMI dentist home loan.

Cheers,
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
Contact:

Re: Do I qualify for a waived LMI home loan?

Post by Otto Dargan »

Hi Bodhi,

Many dentists use waived LMI loans to buy several properties and build their portfolios.

The reason is that you're not having to pay mortgage insurance up front which you're keeping your cash flow free flowing.

Medical professionals with strong incomes also qualify for higher loan limits, typically up to $4.5 million, and higher mortgage exposure limits.

Mortgage exposure limits often stop your investment plans in their tracks.

Cheers,
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

User avatar
Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
Contact:

Re: Do I qualify for a waived LMI home loan?

Post by Otto Dargan »

Hi Bodhi,

The size of the discount that we can get you will depend on:
  • Whether you’re a member of the Australian Dental Association (ADA).
  • Your salary.
  • Rent income.
  • The amount you’re borrowing.

To find out the lowest interest rates available for you, give us a call on 1300 889 743 or fill in our free assessment form so one of our mortgage brokers can get in touch with you.

Cheers,
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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