Lecturers/Professors as Professionals?
Posted: Mon Jun 10, 2019 12:14 am
Anyone know if there are any lenders out there who allow lecturers or professors at a university (with a PhD) to qualify for professional mortgage benefits?
Re: Lecturers/Professors as Professionals?
Posted: Mon Jun 10, 2019 6:04 pm
Unfortunately, lecturers or university professors do not qualify for 100% waived LMI (Lenders Mortgage Insurance) home loans
available to certain professionals who meet specific requirements
. However, you can still be eligible for an 85% home loan with no LMI and qualify for discounted interest rates
- Your loan must be no more than 85% of the property value (85% LVR).
- You have a perfect credit history.
- You’re buying a property (refinancing to purchase a property may be accepted).
- You don’t need to be in a certain profession.
- Max $1,000,000 loan size.
- Max $1,500,000 in total loans with no LMI.
- Major metro areas only.
- If the security property is in Sydney, the combined income of all borrowers must be over $180,000 (excluding rent income).
Call us on 1300 889 743
or complete our free assessment form
to find out the full criteria.