Healthcare workers can benefit from specialised low-deposit home loans that allow them to secure property with minimal upfront costs.
Here’s how the loans are structured:
Professionals with No Income Threshold (Up to 95% LVR)
Eligible healthcare professionals include:
Dentists, General Practitioners, Hospital Doctors, and Medical Specialists
Benefits:
Principal, Interest, and Fees (PIF) Repayment: Up to 95% Loan-to-Value Ratio (LVR)
Interest-Only (IO) and IOA Repayment: Up to 95% LVR
Loan Limit: Up to $5 million
No Lenders Mortgage Insurance (LMI): Often waived, saving thousands.
Professionals with a $90,000 Income Threshold (Up to 90% LVR)
Eligible healthcare professionals include:
Nurses, Pharmacists, Physiotherapists, Psychologists, Radiographers, Audiologists, and other Allied Health Professionals.
Benefits:
Principal, Interest, and Fees (PIF) Repayment: Up to 90% LVR
Interest-Only (IO) and IOA Repayment: Up to 90% LVR
Loan Limit: Up to $5 million
LMI: May apply depending on lender policies.
Loan Types Available:
Owner-Occupied Loans: Low-deposit loans designed for primary residences, with flexible repayment structures.
Investment Loans: Low-deposit options for healthcare professionals investing in real estate.
Qualifying Criteria:
To qualify, applicants must be healthcare professionals in eligible roles, confirmed via:
Latest Australian income tax return.
Proof of qualifications (Australian degree or certification).
Professional registration, such as with AHPRA, or relevant governing bodies for other professions (e.g., Speech Pathologists, Audiologists, Sonographers).
Applicant Types:
Eligible Applicants: Must be Australian citizens, approved permanent visa holders, or approved temporary visa holders.
Ownership Structures: Loans can be taken out in the name of the healthcare professional or related company/trust, with medico involvement.
Specialised low-deposit home loans provide healthcare professionals with a unique opportunity to buy property with reduced upfront costs. Whether for an owner-occupied home or an investment property, the flexibility of these loans, combined with potential LMI waivers, makes them an attractive option for many healthcare workers.
Partnering with a specialised broker who understands the needs of healthcare professionals can further streamline the process and help you maximise your benefits.
Get Started: Book a Meeting
Comments