Did you know that as a medical professional you may be entitled to some of the most attractive interest rates and favourable lending conditions on the market? Most lenders view doctors as low-risk borrowers with high earning potential in a stable industry offering home loans that in most cases have lower interest rates and more favourable lending conditions than standard loans. This week, our MediPro team looks at some frequently asked questions regarding home loans for medical doctors and home loans for medical residents and how as a medical professional you can benefit from home loans that have been tailored specifically to you.
Whether you’re buying your first home, dipping your toes into the investment property market, or adding another property to your growing portfolio – don’t settle for below-average interest rates and unfavourable lending conditions, get in touch with the mortgages for doctors team at MediPro Capital today either online or by calling us on 1300 DR LOAN and secure a home loan that’s been tailored for you.
Home Loans for Medical Doctors – A Quick Guide
What are Home Loans for Medical Doctors?
A home loan for a medical doctor is not unlike a standard home loan and at its core functions much in the same way. However, unlike a standard home loan, medical professionals are considered by lenders to be low-risk borrowers unlocking favourable lending conditions and interest rates that are just not available (or advertised) to other borrowers.
Benefits of Home Loans for Medical Doctors?
There are several key benefits of home loans for medical residents and medical doctors:
- Improved Loan to Value Ratios: As a low-risk borrower, LVR’s of up to 90% of the home value may be possible without having to pay lender’s mortgage insurance (LMI) and in certain circumstances, the team at MediPro has helped our clients borrow up to 100% without LMI.
- Interest Rates Lower than the Standard Loan Rate: Medical professionals have access to a wide range of lenders that in some cases will go out of their way to secure your business with interest rates that just aren’t advertised to the general public – saving you big throughout your loan term.
- Save Time and Money: We know that your time is valuable and we value your business, that’s why with over 25+ years of experience specialising in medical finance we help you compare the best loans from over 40 banks and provide exclusive access to rates & products tailored specifically to your profession.
Are Home Loans for Medical Residents Available?
We often get asked if it’s possible for medical residents just getting started in their career to secure favourable lending conditions. The simple answer is yes! In many cases, medical residents will still be considered lower-risk borrowers for many lenders and while it can vary on a case by case basis, LVRs and interest rates for home loans for medical residents are often still better than the standard loan rate. While we do recommend medical residents in their first year of residency to wait for a full year’s tax returns to be finalised, we have helped medical professionals at all stages of their careers secure leading market rates. For more information get in touch with our team today.
How do I Apply and What Can I Expect with MediPro?
Applying for a home loan as a medical professional with MediPro is easy, simply get in touch to make a completely obligation-free enquiry by letting us know your medical field, the type of home loan or finance you are interested in and hit that send button. Our team will get back to you as soon as possible with a home loan that works for you.
Want to find out more?
At MediPro Capital, our home loans for medical professionals’ team specialises in finding the best home loans for medical doctors no matter where you are in your career. We know that a demanding schedule of a medical professional makes finding a home loan that’s right for you increasingly difficult; That’s why we offer personalised service to get your finance over the line quickly and effectively – best of all we’ll save you time and money and manage the whole process from start to finish completely free of charge. Find out more by getting in touch with us today.