Firefighter Loans are a product offering available from a select few lending organisations who understand that Loans for a Firefighter should not be capped at a level that is reached, when only base pay is considered as income, for loan assessment purposes.

As we know, firefighters like most emergency services personnel, receive regular overtime and penalty payments that constitute a large portion of their annual earnings, and this additional income is regular and ongoing.

Unfortunately, some banking institutions and credit unions, are very reluctant to include this regular additional income as income, when assessing loan affordability. The consequence is that firefighter loans are regularly rejected, or the firefighters concerned are forced to borrow smaller amounts, that unduly restrict their purchasing power.

The downside of restricted purchasing power is that firefighters seeking loans are forced to seek lower priced properties, which are usually located further away from their workplaces, than their preferred locations.

Subsequently, a firefighter accepting such loans for lower amounts than requested, is usually forced into a situation where they must accept much longer commutes, than are optimal for their health, well-being and family obligations.

As a member of a large mortgage aggregator body, Oz Lend has access to a panel of over 30 lending institutions, several of which offer loans that a firefighter can access, to take advantage of the lenders willingness to consider all of their annual income, when assessing a firefighter’s ability to meet repayment commitments.

Obtaining approval for loans for a firefighter, is how Oz Lend can help firefighters to reduce their commute times, for the betterment of themselves, their families and the communities they serve.

If your borrowing capacity has been severely impacted by a lender failing to consider all of your income, when assessing your eligibility for a loan that will allow you to purchase a property in an area that will reduce your commute times, contact us for an appointment to learn about lenders who can make a difference.

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