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Lecturers/Professors as Professionals?

Posted: Mon Jun 10, 2019 12:14 am
by eigenvector
Hi,

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?

Thanks!

Re: Lecturers/Professors as Professionals?

Posted: Mon Jun 10, 2019 6:04 pm
by Otto Dargan
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.

To qualify:
  • 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.