Westpac declined me for a doctor home loan, are there other lenders who can help?

Any general questions you might have in regards to loans and finance.
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Otto Dargan
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Location: Sydney, Australia
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Re: Westpac declined me for a doctor home loan, are there other lenders who can help?

Post by Otto Dargan »

Hello Grover. Welcome to the forums.

Yes, there are a select few lenders that will accept 1 year’s tax returns or less than 2 years ABN (Australian Business Number) for self-employed doctors.

You may still qualify for special doctor home loans despite your short self-employment history and potentially:
  • Borrow up to 95% of the property value or up to 100% with select lenders.
  • Qualify for waived LMI (Lenders Mortgage Insurance) or no LMI, a premium that is charged when borrowing over 80%.
  • Access significantly reduced interest rates and fee waivers.
We specialise in doctor home loans.

Give us a call on 1300 889 743 or fill in our free assessment form to find out if you qualify for a medico home loan with no LMI.

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: Westpac declined me for a doctor home loan, are there other lenders who can help?

Post by Otto Dargan »

Hi Grover,

By choosing the right lender and amending your loan structure, you could borrow up to $1,188,943. This is a tentative figure arrived at using our borrowing power calculator which uses the same methods as those used by lenders.

You have a high credit card limit, by reducing your limit you can borrow more. Some lenders can ignore credit cards that you pay off in full each month. Not all lenders take negative gearing benefits into account. Please call us to find out which lenders are more accepting of investors.

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: Westpac declined me for a doctor home loan, are there other lenders who can help?

Post by Otto Dargan »

Hi Grover,

Even though self-employed doctors qualify for interest rates discounts and waived LMI, they can still get basic and professional packages along with all the of the common features including: Give us a call on 1300 889 743 or fill in our free assessment form to find out if you qualify for 100% no LMI home loans.

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

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