The #1 Mistake Healthcare Workers Make with Refinancing—and How to Avoid It

Healthcare Home Loans
Feb 24
2 min read

Updated: 6 days ago

Refinancing your home loan can be a game-changer, but for many healthcare professionals, it’s easy to fall into common traps that could cost you more in the long run.

That’s exactly what we covered in our latest webinar:

If you missed it, don’t worry! We’ve put together the key insights, along with a video replay and downloadable presentation to help you make smarter refinancing decisions!

Watch the full webinar on our Youtube channel
Download the presentation slides

Key Takeaways from the Webinar

The Most Common Refinancing Mistakes

Chasing the lowest interest rate – A lower rate isn’t always the best deal. You need to consider loan features, flexibility, and hidden fees.
Ignoring exit costs – Switching loans can come with break fees, settlement costs, and other charges that can eat into your savings.
Not reviewing loan features – Offset accounts, redraw facilities, and flexible repayments can help you save more over time.
Taking on too much debt – Using home equity can be beneficial, but over-borrowing can lead to financial strain.
Choosing the wrong lender – Not all lenders understand healthcare professionals’ income structures (e.g., shift work, overtime, or salary packaging).

Exclusive Refinancing Benefits for Healthcare Workers

LMI Waivers – Some lenders waive Lenders Mortgage Insurance (LMI) for doctors, nurses, and allied health professionals, potentially saving up to $25,000+.
Special Interest Rates – Healthcare professionals may qualify for discounted rates that aren’t available to the general public.
Higher Borrowing Power – Some banks recognise shift loadings and overtime differently, allowing you to borrow more.