Client Story: Michael & Daniel

Healthcare Home Loans
Jul 21
2 min read

A healthcare couple, a smarter deposit strategy, and the freedom to dream beyond their first home.

Meet Michael & Daniel

When Michael and Daniel first came to us, they were doing what many couples in their shoes do: scrolling realestate.com.au at night, running numbers on napkins, and dreaming of their first home - one that wasn’t just an address, but a future.

Michael is a Year 3 Registered Nurse earning $98K, and Daniel, his partner, brings in $85K in a non-healthcare profession. Both in their early 30s, they'd been together for years and were finally ready to plant roots.

But they weren’t just buying a property - they were building a life. A fixer-upper with potential. A space they could make their own. A future wedding on the horizon. And, like most first-time buyers, they wanted to do it right.

The Roadblock

Michael was told he’d be eligible for the First Home Buyer Guarantee Scheme, which would allow them to purchase with a smaller deposit and skip Lenders Mortgage Insurance.

But there were two major snags:

Property Price Cap: Their dream home was listed at $920K - just above the scheme's $900K ceiling. That immediately disqualified them.
Savings Use Restrictions: Michael had inherited $150K, and together they had $185K in total savings. Under the scheme, they’d be forced to use nearly all of it - with only ~$30K allowed to remain (six months' living expenses). That wouldn’t leave much breathing room for:
- 🛠️ Renovating the older property
- 💍 Paying for their wedding

Even worse? Some lenders weren’t accepting the inheritance funds as genuine savings. They felt stuck - penalised for planning ahead.

The Strategy

This is where the right guidance made all the difference.

We showed Michael that as a healthcare worker, he qualified for a specialised home loan pathway designed just for people like him - one that Daniel could still join, even though he wasn’t in the healthcare sector.

The Healthcare Home Loan Advantage:

✅ Borrow with just 10% deposit
✅ No Lenders Mortgage Insurance (saving them thousands)
✅ Discounted interest rates
✅ No price cap restrictions
✅ Keep their cash instead of draining it

It wasn’t a government scheme. It was a smarter fit for their real life.

The Numbers

Breakdown	Amount
Property Price	$920,000
10% Deposit	$92,000
Stamp Duty	$23,998.60
Stamp Duty Discount	-$12,164.80
Legals, Banking & Reporting	~$4,500
Total Funds Used	$120,499
Savings Retained	~$65,000

In Their Words

“We thought we’d have to sacrifice - either the home we loved or the savings we’d built. But this option gave us both. We got the home, the breathing room, and the chance to plan for the future. We didn’t just get a loan - we got a strategy.”

The Takeaway

This wasn’t about chasing schemes or selling shortcuts. It was about understanding what mattered to them - and finding a path that protected their lifestyle, their savings, and their dreams.