Did you know there are special discounts and incentives that you could be missing out on? As a medical professional and by select banks and funders you could be offered a full waiver towards Lenders Mortgage Insurance (LMI) along with an interest rate reduction in 2015! When applying for a home loan, you can now receive further benefits towards these schemes as an approved medical practitioner, waiving fees and offering significant reductions in your interest payments, benefiting you with massive savings. You could save thousands on your home loan with this exclusive offer!
Lenders Mortgage Insurance (LMI) Waiver
Lenders can approve loans for medical professionals who can borrow more than 80% of the property’s value and not pay the lenders mortgage insurance premium which can cost literally thousands of dollars – and in some cases the lenders will borrow over 100% of a purchase price. This means that your Lenders Mortgage Insurance is not required to be paid, in which over the course of the payments this means you can save over $10,000 in LMI premium, this is a once off saving offered when setting up the loan.
Interest Rate Reduction
As a medical professional you will be offered a much lower interest rate as you don’t need to borrow a large sum of money to receive a better rate. However not only medical professionals are being offered this incentive, also in some cases lawyers and accountants too, for a full list of eligible applicants contact Red & Co for a detailed outline of information.
Why benefit as a medical professional?
The medical professional field is expected to continue to grow in coming years, offering finance professionals security through their clients being able to commit to their loans. Due to this stability, lenders are willing to place their trust in medical professionals, offering them these benefits of the mortgage insurance waiver and interest rate reduction.
- As a general rule, an annual income of $150,000+ is required.
- You must be a member of your professional association, evidence of membership is required.
- Not all mortgage brokers and banks have access to these offers, being an exclusive offer only to some brokers.
- Subject to bank’s credit criteria, satisfactory servicing and income.
Contact Red and Co today on Ph: 1300 88 73 28 to find out how you can benefit from the medical practitioners’ incentives and make the most of the benefits available to you.
Full list of specialities