Are you a nurse or midwife looking to buy your first home or investment property? Anxious about rising prices and the intimidating obstacle of getting approved for a medical professional or nurse home loan?
Let me share with you some exciting news: we’ve got 90% LVR home loans for nurses and midwives available! And here’s the kicker: there is no LMI (Lenders Mortgage Insurance) required!
Yes – that does mean you can use less of your deposit savings for unanticipated costs. Keep reading to learn more about these unbelievable deals and how YOU can benefit from them today!
Benefits of 90 LVR no LMI home loans for nurses and midwives
For most borrowers of home loans Gold Coast, a minimum of deposit of 20% of the purchase price is required so you can borrow with confidence and without having to pay the
However, under the nurse and midwife packages, you:
- only have to pay deposit as low as 10% of the purchase price; and
- do not have to pay the Lenders Mortgage Insurance, which can save you thousands!
Eligibility for no LMI home loans for nurses and midwives:
Midwives, previously considered high-risk clients, are now eligible for the above benefits like most medical professionals. To be eligible for no LMI home loans for nurses Australia, you must:
- be an Australian citizen or approved permanent visa holders
- be a registered nurse or midwife
- earning a minimum $90,000 per annum (some lenders may accept 100% of your overtime income)
- have at least 10% deposit
- have genuine savings (amount or percentage depends on your lender of choice)
- borrow not more than $1.35 million for metro locations and not more than $1 million for non-metro locations
To apply for the no LMI home loan, you must present one of the following documents:
- Most recent Australian tax return; or
- Copy of Australian university degree or qualification; or
- Copy of registration with the Medical Practitioners Board of Australia or equivalent body (copy of print out from the following web page is acceptable provided the registration is current http://www.ahpra.gov.au/Registration/Registers-of-Practitioners.aspx).
Other no LMI home loan options
If you are not a healthcare professional, or are finding no LMI home loans for people you know, the below are options they could look into:
- Lawyers, accountants, engineers, and other high-income earning professionals may be qualified for LMI discounts and waivers with some lenders
- The First Home Guarantee makes it possible for first home buyers to buy their first home with as little as 5% deposit, no LMI needed
- The Family Home Guarantee lets single parent first home buyers kickstart their homeownership journey with as little as 2% deposit, no LMI needed
Get in touch with the mortgage brokers at Professional Lending Solutions
So there you have it, nurses and midwives. If you’re looking to purchase your first home or investment property, now’s the time! These incredible 90% LVR home loans for nurses and midwives with no LMI required will fast track your home owning goals without breaking the bank.
Reach out to the mortgage brokers at Professional Lending Solutions today and don’t miss out on these opportunities!