February 27, 2015

Medical doctor home loans

Medical doctor home loans in Australia

Medical doctors can get excellent discounts on their home loan interest rate.

Did you know that medical doctors can get excellent discounts on their home loan interest rates from some lenders? They can!

Some lenders will now offer special discounts to certain professions, medical doctors and medical specialists and some other medical professions will qualify for the special interest rate discount.

This means that if you are a medical doctor we can assist you to get a discount on your home loan interest rate. We will look at all of the home loan offers available and include any interest rate discount that you may be able to receive and present you with the options available. The home loan interest rate discounts for doctors can really save you money on your home loan.

Find out home much you could save by refinancing your home loan through today!

Medical doctors can get a lenders mortgage insurance waiver on their home loan when they borrow more than 80% of the property value.

Normally when you borrow more than 80% of the property value the bank or other lender will require you to pay for lenders mortgage insurance. This lenders mortgage insurance over the bank or lender (not you) in the event that you do not pay the repayments on the home loan. Lenders mortgage insurance can cost you thousands of dollars when you are borrowing above 80% of the property value.

Medical doctors, medical specialists and some other professions can get the requirement to pay for lenders mortgage insurance waived by some lenders saving then thousands of dollars when they borrow a high proportion of the property value, especially when they purchase a high value property. The smaller the deposit and larger the loan the more expensive lenders mortgage insurance will be. By using the right lenders medical doctors and people working in some other professions can save the cost of buying the lenders mortgage insurance.

When lending to certain professions some lenders chose not to require you to pay for the insurance and instead take the risk that you fail to repay the loan themselves. Some lenders have analyse the data and have seen that people in those professions have a low rate of failing to repay their loans and this is why they are happy to take the risk.

Contact us if you would are a medical doctor or medical specialist to find out if you quality for an interest rate discount or waiver of lenders mortgage insurance.

Find out more about doctor mortgages.

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