You CAN Get A Special Rate on Your Home Loan If You're A Doctor or Nurse!
- Negotiated “Doctors & Nurses only” interest rates
- Save thousands of dollars in LMI & set up costs
- Borrow up to 95% of the property value
- Cashback on refinances
Enquire About Special Home Loan Offers For Doctors & Nurses
An Offer Too Good To Refuse – special rates, no LMI, no annual loan fees, up to 95% of property value.
Discover how you can take advantage of special interest rates for Doctors and Nurses, available via Loan Lounge.
How We Save Doctors $29,500 On Average*
*Based on an average loan size of $750K in NSW at an LVR of 95%
Being a Medical Professional is a demanding career – for many Doctors and Nurses, it means working long hours, seeing critically ill patients and being on-call at all hours of the day and night.
At the Loan Lounge, we understand the value of hard work and dedication that comes with being a Medical Professional, and that’s why we’ve negotiated special interest rates exclusively for Doctors and Nurses. You can rest assured that you’re getting the best deal on your loan, so you can focus on what you do best – providing exceptional care to your patients.
Discover how you can take advantage of special interest rates available via Loan Lounge.
Why Medical Professionals Choose Loan Lounge
Special Interest Rates
Doctors and Nurses can now take advantage of special interest rates only available via Loan Lounge.
No LMI
There will be no mortgage insurance or set-up costs for you. This is how Doctors and Nurses can save approximately $16,500 per year!
Option of No Annual Fees
A typical annual fee is $395, and a setup fee of $200. We have an option of having this annual fee waived for the life of the loan, saving an average $12,050 over the course of your loan.
Discover how you can take advantage of special interest rates available via Loan Lounge.
We're Award-Winning Mortgage Brokers
We negotiate the best interest rates on the market with lower monthly payments and fast approval times, so you don’t have to wait too long before making your dream of owning a home a reality.
Save Money
Apply for a home loan with Loan Lounge, and you'll be eligible for an interest rate that's lower than the rates offered by major banks and other lenders.
Get Answers Fast
What's your custom interest rate? What are the monthly payments going to be like? When you get a home loan with Loan Lounge, you'll have access to tools that help you find the answers to all these questions.
Relationship Managed
Build a relationship with your Broker so the next time you need to renovate, buy again or build your wealth, you know who to speak to. They already understand you and can make the process smooth and efficient.
Discover how you can take advantage of special interest rates available via Loan Lounge.
Testimonials
Your Questions Answered
You qualify if you are working in the following roles:
– Registered Doctor
– Cardiologist
– Surgeons
– Neurologist
– Paediatrician
– Registered Nurse
– Midwife
– Nurse Educator and Researcher
– Nurse Manager
– Enrolled Nurse
– Nursing Support and Personal Care Worker
Confirmation must be obtained of the applicant’s qualifications and employment as an eligible medical professional via one of the following methods:
– Most recent Australian tax return or
– Copy of Australian university degree or qualification, or
– Copy of registration with the Medical Practitioners Board of Australia or equivalent body.
Medical Professionals with a minimum income threshold for some lenders
The following additional criteria apply:
– The minimum income threshold is $90,000 (gross) per annum.
– The income used to meet the income threshold requirement must be income from the applicants’ qualification.
– If the application contains multiple qualifying professionals, the combined income of the qualifying professionals must meet the minimum gross taxable income stated above.
If you are buying a property, you’ll need to have at least 5% of the purchase price of the house as a deposit.
This means that for a $600,000 purchase, you’ll need a deposit of at least $30,000.
Aside from that, you may need an additional 5% of the purchase price to cover your purchasing costs. These mainly include government fees such as stamp duty and other costs like conveyancing fees and LMI.
Usually, lenders consider only 80% of your overtime income, which can significantly reduce your borrowing power.
Doctors and Nurses are considered essential workers so some lenders will use 100% of the overtime income.
To use 100% of your overtime income, we will need to show evidence to the lender via your payslips and most recent income statement.
Most Doctors and Nurses receive fringe benefits where a portion of the income is tax free.
This income is typically credited directly into your bank account and used to pay off debt like a home or car loan.
Sometimes, lenders make mistakes and tax this portion which reduced your borrowing capacity.However, there are lenders that consider this a tax free amount.
We will just need to show the lender the bank statements and the fringe benefit tax statement.
The cost of Lenders Mortgage Insurance is based on the loan to valuation ratio (LVR), loan amount and lender.
The lower your deposit, the more the lenders mortgage insurance costs and vice versa.
Here is an example of what you could save:
Loan amount: $750,000 LMI cost @ 90%: $16,556
Loan amount: $1,000,000 LMI cost @ 90%: $22.084
Loan amount: $1,250,000 LMI cost @ 90%: $31,798
Loan amount: $1,500,000 LMI cost @ 90%: $38,158
Enquire About Special Home Loan For Doctors & Nurses Today
Let us show you why Doctors consistently rate us as one of the best mortgage brokerages around!
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