Most people who need a home loan, also want to avoid paying mortgage insurance. This means they need to have a 20% deposit.
A special home loan for professionals
However, certain professionals qualify for a special home loan product with exemptions to this rule. This can include lawyers, accountants and medical professionals.
We have lenders who can lend up to 90% of the purchase price. They can also provide these loans without requiring mortgage insurance!
These loans are also available on higher loan amounts. For example, 90% loans with no insurance are available for up to $2.285 million properties.
There are other criteria to be met. This can include professional memberships and minimum income. However, proposed rental income can be included to help meet the minimum income.
Lenders consider these loans to be low risk. So they’re willing to offer something a little more special.
If you qualify, you don’t have to meet the genuine savings test. Therefore, you don’t have to prove how long you’ve had your deposit.
How can I apply?
If you’re a qualified accountant, lawyer or medical professional looking for a little extra, we can help. Contact Desiree at Sydney based finance brokers Bee Finance Savvy. You can call her on 0455 131 947 or 1300 140 554. Desiree can be reached by email at email@example.com . You can also complete the contact us form on this site.
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