Background
Dr. Amy, a high-income medical professional, was ready to purchase her dream home priced at $2.2M. With $480,000 in savings, she seemed in a strong position – but her recent transition into private billing complicated matters.
She had just moved into a new, high-earning role with a private billing model. While her contract reflected a significant increase in income, she didn’t yet have payslips to support this – and her previous rotating hospital rosters didn’t reflect her current capacity.
The Initial Situation
She originally approached a lender offering a 5% deposit option, but:
- The lender did not accept private billing income, reducing her borrowing capacity by approximately $500,000
- She would’ve had to use more of her savings upfront to compensate and purchase something smaller
- The interest rate offered was 6.5%, far higher than market average
💸 LMI savings: $93,285.25
💰 Loan needed: $2,090,000
💥 Repayments at 6.5%: $13,799.85/month
Despite the LMI waiver, this was not a financially sustainable strategy.
The Healthcare Home Loans Solution
We took the case to a lender who not only:
✅ Accepted her private billing income as per contract – without payslips
✅ Maintained her full borrowing power, avoiding the $500K shortfall
✅ Approved the LMI waiver with just a 5% deposit (saving $93K)
✅ Offered a reduced interest rate of 5.99%
📉 New monthly repayment: $13,075.86
💰 Monthly saving: $723.99
📆 Annual saving: $8,687.88 (Year 1 alone)
The New Financial Path
Instead of needing $546,753 upfront (as with a 20% deposit), Dr. Amy only needed $223,000 to complete the purchase.
This allowed her to keep $257,000 parked in her offset, leading to:
- 🏦 Interest savings: $948,886
- ⏳ Loan term reduced: 6 years and 3 months
- 💡 Total flexibility: More liquidity, lower risk, and long-term wealth growth
Outcome
✅ Secured a $2.2M property with a 5% deposit
✅ Borrowed against future income – no payslip stress
✅ Saved $93K upfront in LMI
✅ Locked in a better interest rate
✅ Slashed long-term interest by nearly $1M
✅ Gained financial flexibility with over $250K still in the bank
All from one smart conversation with Healthcare Home Loans.
📞 Book a call and discover what’s truly possible with the right strategy.
📅 Coming Soon: EOFY Webinar for Healthcare Professionals
We’re ending the month with an exclusive online session: “Financial Triage: What Every Healthcare Professional Needs to Get Right Before 30 June”
In this free webinar, we’ll walk through the key financial wins and strategies to wrap up the year in a strong position and set up your next one for success. It’s the perfect complement to your one-on-one Financial Health Check.
All registrants will also get our bundle of EOFY essentials.
