Home loans for Medical professionals, Accountants, Lawyers & other professionals in Paddington, Bardon & across Brisbane
Medical & other professionals can access some great options for their home finance
If you’re a Doctor, Dentist, Accountant or other highly-paid medical or other professional, you could get a lower interest rate and LMI waived with your home loan.
Before lending money to any borrower, every financial institution will consider a loan applicant’s financial history and credit record to determine their ability to repay the loan amount.
Certain borrowers are seen as lower-risk by lenders, and in-turn, receive special consideration. If you're a Doctor, Dentist, other medical professional, Account, Lawyer or in other highly-paid professional career, you could have the option of saving thousands on your home loan.
Some lenders offer specialist home loans for professionals with a range of attractive discounts, including discounted fees, better interest rates, higher loan-to-value ratios (LVRs) and the ability to avoid lenders’ mortgage insurance (LMI) payments altogether.
To discuss the deals that you could be eligible for being in your Profession, book an appointment with us online, or call us on 07 3369 5620
How do professional home loans work?
These types of loans can be used to buy your first home or your next home, to switch from your current mortgage to a better one, to purchase an investment property or to build a new home.
However, while they’re set up in much the same way as regular loans, if you’re a highly-paid professional you can get a home loan with a range of attractive benefits and features to reflect the fact that you’re considered a low-risk borrower.
For example, some lenders will allow you to borrow up to 90% of the value they plan to purchase (and sometimes more) without having to take out LMI (lenders’ mortgage insurance). Under a regular home loan, however, this type of insurance is usually compulsory if you need to borrow more than 80% LVR. Some lenders will even lend you 100% if you’re an owner occupier, but note that you’ll need to pay LMI if you borrow this much.
Other potential benefits of home loans for medical and other professionals include discounted interest rates and waived loan fees.