November 02, 2018
If you're a Doctor or a medical specialist, then take advantage and save money on your mortgage!
Generally speaking, if you borrow more than 80% of the value of a property then you as the borrower would need to pay Lenders Mortgage Insurance (LMI).
But great news! If you medical professional who fall within the criteria for a Medico Package with several lenders, then you could borrow up to 90% of the value of the property, without paying LMI.
For example, on an $800,000 property you could save approximately $13,000 in LMI if you were to borrow up to 90% of the property's cost.
In addition, these packages for Doctors or medical specialists will generally permit you to:
- Borrow up to 105% of the property value,
- Qualify for discounted interest rates, and
- Either use the borrowed funds for purchasing a home or refinancing your current loan
Talk to us to find out if you're eligibile, and what you may need to do to apply.
Call our team today on 02 4628 8260 for Bankstown and Campbelltown and 02 4647 7220 in Narellan to speak with our team and book a free appointment.