Doctor Home Loans and Waived LMI
If you’re borrowing more than 80% of the property value, you usually have to pay lenders mortgage insurance (LMI). However, lenders will waive LMI for you if you’re from a specific profession and a high-income earner such as a doctor. To find out if you qualify, read about Waived LMI here. Select types of doctors are eligible for not only discounted rates but also 100% waived LMI. Some of these preferred medical professionals include anesthesiologists, anaesthetists, chiropractors, dental specialists and more. To find out if you qualify, read about it here: Home Loans for Doctors.Australian Expat Home Loans
One of the most frequently asked questions we get from Australian expats is whether they can get a mortgage in Australia. The answer is yes. As an Aussie expat, you can apply for a mortgage in Australia and, in most cases, borrow as much as a citizen residing in Australia. Some things you need to keep in mind when applying for an Australian expat home loan are: To know more about Australian Expat home loans, read here.Guarantor Loans
If you’re a first time home buyer or don’t have enough deposit saved up, a guarantor home loan allows you to use your parents’ (guarantor) property as collateral. It allows you to borrow over 80% of the property’s purchase price without paying lenders mortgage insurance (LMI). Read more on Guarantor home loans here.Bad Credit Home Loans
If you have a bad credit score, you might feel hopeless to get your home loan approved. But there are still ways to get approved, whether it’s a default, bankruptcy, or part 9. With the help of select lenders, Bad Credit Home loans can let you borrow up to: up to 95% of the property value if you have minor paid defaults up to $500. Borrow up to 90% of the property value if you have larger defaults, judgements, court writs, part 9 agreement or discharged bankruptcy. Read more on Bad Credit home loans here.Unusual Employment Loans
Everyone knows that a 9-to-5 job isn’t the only form of employment. But lender policies usually make it hard for people working overtime, on probation, or as agency workers and contractors with multiple part-time jobs. You can afford a home loan, and you have a job, but you might not be able to prove your income as easily as you’d like to. Fortunately, some lenders understand that the world has grown from the traditional 9-to-5 job slot. As experts in home loans, we can help you if you’re:- On probation
- Contract workers
- Self employed
- Casual employees
- Overtime reliance
- Temp / Agency workers
- Bonus income
- Doctor home loans
- Rental income
- Commission income Read more on Unusual Employment here.
- using the equity in another property.
- First Home Loan Deposit Scheme.
- gift as a deposit (conditions apply)
- personal loan as a deposit (low-risk borrowers only) Usually, if your parents own a property in Australia, a guarantor home loan is the way to go. Read more on No Deposit Home Loans here.
- Getting a better interest rate to reduce the size of your mortgage.
- Reducing your monthly repayments.
- Consolidating debt such as credit cards, car loans, or tax debt into one monthly repayment.
- Getting competitive interest rate by refinancing to a major lender after fixing past credit issues.
- Accessing equity to renovate your existing property, to build something, to buy an investment property, to go on a holiday, or just to have some cash in the bank. To learn more about Refinance home loans, read more here: Refinance home loans.