Homeownership for healthcare professionals is now available on 10% deposit with mortgage insurance waived.
Normally homeownership for healthcare professionals proves to be elusive for a long period, as most lenders require a minimum deposit of 20% of the property’s value, before they will offer a mortgage loan without charging Lender’s Mortgage Insurance (LMI).
As you can see from the following table, LMI can be quite substantial.
Sometimes, all that stands between you as a healthcare professional, and your dream of earlier homeownership, is the requirement to pay LMI.
Right now, via Oz Lend, the opportunity is available for all healthcare professionals to borrow up to 90 % of a property’s valuation, without being required to pay LMI.
This means that as a healthcare professional, if you can fund ten percent of a property’s valuation from your own resources, you are most likely in a position to become a homeowner now, rather than at some point in the distant future.
At Oz Lend, we understand the desire to own your own home sooner rather than later, and it makes sense to act now, if you can.
Realising your dream now, will allow you to immediately commence building equity in your property, as well as positioning you to take advantage of any increases in your property’s value over time, to further improve your equity position.
Oz Lend can help you get into the market now with just ten percent deposit and without the requirement to meet the high cost of Lender’s Mortgage Insurance.
Understanding the Uncertainty
Healthcare professionals often feel hesitant about borrowing with a Loan to Value Ratio above 80%, mainly due to the substantial extra costs such as Lender’s Mortgage Insurance but also due to the higher repayment rates.
Nevertheless, if you have a ten percent deposit, and can meet the lender’s serviceability requirements, Oz Lend’s can assist you to overcome this uncertainty, and realize your dream of homeownership sooner than anticipated.
Analysing the Uncertainty
There’s a common misconception among healthcare professionals that only Registered Medical Practitioners (Doctors and Specialists) are eligible to borrow up to 90% of a property’s value without incurring Lenders Mortgage Insurance (LMI).
This belief may deter other healthcare workers from investigating their borrowing possibilities. Additionally, the prospect of paying substantial LMI fees, which can amount to tens of thousands, is often viewed as a considerable financial strain.
Don’t be deterred. Many lenders value the business of all healthcare professionals and will treat you the same as doctors and specialists.
The Solution: Borrow 90% LVR Without Lender’s Mortgage Insurance
Oz Lend have access to over 30 lenders. Many of these lenders have specialised credit policies tailored to helping healthcare professionals into earlier homeownership.
Major banks often limit professional packages to doctors only. Oz Lend’s arrangements with specific lenders, allow us to secure loans up to 90% LVR without the added burden of LMI, for all healthcare professionals.
How We Help You Achieve Your Desire
At our first chat online, we will confirm if you are likely to qualify and benefit from this special offer for healthcare professionals.
Should you want to proceed with obtaining a loan equating to 90% of your property’s value without having to pay mortgage insurance, we will then talk you through the process of submitting a healthcare professionals home loan application and outline the role Oz Lend will play for you.
If you decide to proceed, we will be with you all the way until your property settles.
Your Path to Earlier Homeownership for Healthcare Professionals Starts Here
Don’t let uncertainty regarding loan eligibility or insurance concerns hold you back any longer from achieving your dream of earlier homeownership.
Using our expertise and personalized service, Oz Lend will guide you through the process of borrowing with only a ten percent deposit and with a waiver of LMI fees.
Act now to make your dream of earlier homeownership a reality.
