Best Home Loan Offer For Professionals
Join 1000's of Authors at StreetArticles Today!

When it is time for you as a professional to get a home loan in Australia, your profession can actually help you to get the best home loan offer in Australia and can help you to save money. Your profession can influence not only which lender/credit provider will lend to you, but also:

• How much the lenders/credit providers will lend to you?

• How you can access discounted interest rates?

• How you can access better home loan conditions? and

• How flexible the terms of your home loan can be?

Why do Lenders/Credit Providers offer these Discounts and Benefits?

This is because most lenders/credit providers view professionals as being a “low risk” purchaser. So, when you are looking to secure a home loan that best suits your needs and circumstances, your following key criteria will benefit you:

 Your stable employment;

 Your strong financial standing (i.e. sufficient assets);

 Your above average salary; and

 Your clear credit history (i.e. professionals are less likely to default in their payments).

Who is considered a Professional?

Home loans for professionals were initially restricted to medical professionals, lawyers and accountants, but these home loans are now also available to all sorts of professionals with sufficient income and assets. It may include but is not limited to:

Doctors Lawyers Mining Professionals

Dentists Barristers Energy Professionals Optometrists Solicitors Resource Professionals Pharmacists Accountants Engineers

Physiotherapists Actuaries Surveyors

Veterinarians Auditors Geologists

Discounted Interest Rates

Professionals can be eligible for discounted interest rates on their home loans (i.e. they are offered discounts off the standard variable interest rate home loan than what is offered to non-professionals).

Lenders Mortgage Insurance (LMI) Waiver

You can qualify for a “waived” LMI for up to 90 per cent of the Loan-to-Value Ratio (LVR) instead of the standard 80 per cent LVR. For example:

• As a result of not having to pay LMI premium costs, you may be able to save $5,000 to $10,000 in LMI premium costs, on a property valued at $500,000 with a mortgage of $450,000.

Reduction of Fees

Most lenders/credit providers will “waive” Application Fees on home loans for professionals, which can save you $500 to $800.

You have More Options available to you

Professionals may get the following benefits on their home loans:

 The option of making additional payments without incurring any penalties:

 The option of a redraw facility. The redraw facility enables you to draw on your pre-paid funds (i.e. the extra lump sum repayments you make over and above your contracted loan repayments); and

 The option of 100 per cent offset account, to enable you to pay off your loan quickly.

So, now that you know why professionals can get the best home loans in Australia

Seek Expert and Professional Advice

Tip: For more information, speak to a professionally qualified finance broker who is an expert in providing home loans to professionals.

Singh Finance is a reputed Australian finance brokerage firm that employs a team of expert and professionally qualified finance brokers. Who will help you to negotiate the best and most suitable home loan for professionals, and they will even help you find suitable building insurance for your property. Call on 0424 190 908 today or visit their website and simply click on the "ENQUIRE ONLINE" form.

Disclaimer: This article is of a general nature only and does not constitute professional advice. I strongly recommend that you seek your own professional legal and accounting advice in relation to your particular circumstances.

Read more about home loans Australia and home loans for professionals


Street Talk

No comments present
You May Also Like
Payday Loans Pros Vs Cons Should I Get A Payday Loan?
There is a lot of controversy surrounding the payday loan business. For those of you who are not familiar with the concept, payday lenders will give you a small amount of cash, usually somewhere between $50 and $500 (sometimes more), in exchange for a post dated check. When your next…
By: CecilSmith in  Finance  >  Loans   Jun 07, 2016  
0
  Likes: 0

Payday Loans Pros Vs Cons Should I Get A Payday Loan?2016
There is a lot of controversy surrounding the payday loan business. For those of you who are not familiar with the concept, payday lenders will give you a small amount of cash, usually somewhere between $50 and $500 (sometimes more), in exchange for a post dated check. When your next…
By: CecilSmith in  Finance  >  Loans   Jun 07, 2016  
0
  Likes: 0

What You Should Look for When Getting Payday Loans UK
There are plenty of payday loans online which you can get as a reprieve whenever you are running short of cash. However, not all of them are made the same. You need to watch out for ones which could seriously put a dent on your credit rating should you be…
By: Trey Reed in  Finance  >  Loans   May 28, 2016  
0
  Likes: 0

Popular Types Of Home Loans for First Time Property Buyers
A person buying a house for the first time would like to choose from an array of loan types that give them the best options available. Among the loan types available like FHA, VA home loan, and other choices that can help them save money. Not only will the right…
By: Max Mortiz in  Finance  >  Loans   Apr 28, 2016  
0
  Likes: 0

What is A Bridge Mortgage And Could Getting One Be Relevant For You?
Whilst shifting up to a brand new residence, one of the principal concerns that people are faced with is a way to discern out the timing of the entirety. One has to be able to discover a residence to buy, however for you to have the funds for it, one…
By: Mark John3 in  Finance  >  Loans   Apr 28, 2016  
0
  Likes: 0

Mortgage And Interest Rates: Experts' Opinion on Today's Market
Every first time home buyer looks for good references that will educate them about this loan type. No one can explain mortgage better than experts. Aside from being well-versed in the business, they can also observe trend and give opinions about the current real estate and financial markets. Here is…
By: Max Mortiz in  Finance  >  Loans   Apr 18, 2016  
0
  Likes: 0

Find Payday Loan Lendersto Meet That Extra Dollar Need
Summary: It is easy to Find Payday Loan Lenders on the internet at easy terms with minimum formalities and no credit scores to maintain when you have dues to pay. Financial crunch and the need for that extra amount has become a common feature for most common people not just…
By: tomashworth in  Finance  >  Loans   Apr 18, 2016  
0
  Likes: 0

Best Moneylender Guide In Singapore 2016
Even with the new rules in place since Oct 2015, errant licensed moneylenders in Singapore have been reported to worked around the rules instead. This has led to another public outcry and luckily the Singapore government is stepping in strongly on this. Let’s look into some of the best moneylender…
By: cysmoneylender in  Finance  >  Loans   Apr 12, 2016  
0
  Likes: 0

Licensed Money Lenders In Singapore
Most licensed money lenders allow the borrowes to apply for instant loan approval Singapore online. This means that they can apply online and fill out some documents. Once they are approved, they will inform them by email or telephone. And the borrowers can receive money at home without going to…
By: gagalacy in  Finance  >  Loans   Apr 06, 2016  
0
  Likes: 0

6 Month Loans - Easy Option to Arrange Money Through Instant Procedure
Your monthly cash trouble or shortage of money definitely proves one thing that your salary is not enough to meet your requirements. It is not a serious matter but it starts making your days nightmare and it happens when you do not find an appropriate alternative to resolve this issue…
By: linbeth in  Finance  >  Loans   Mar 30, 2016  
0
  Likes: 0

Latest FHA Loan Limits Meant for Different Property Types
Countless people will begin buying properties in 2016. If you’re planning to buy a house in 2016, your order of business includes mortgage pre approval, earning downpayment, and looking for a lender. But aside from the mortgage and the property, you must also know the loan limits set. Every state…
By: Max Mortiz in  Finance  >  Loans   Mar 25, 2016  
0
  Likes: 0

Singapore Personal Loans For foreigners
Since the beginning of the British Empire, Singapore has been a center point of industry, a place where there is quick paced purchasing and offering. Individuals from numerous spots on the planet, outsiders to Singapore, come there for some reasons. They might be travelers or representatives whose employments have brought…
By: loansingapore in  Finance  >  Loans   Mar 25, 2016  
0
  Likes: 0

Personal Loan: Apply It Online And With Low Cost
Legal personal loan Singapore are unsecured kind of loans provided by financial institutions for which they don't take any collateral security. Personal loan is a hassle free method of obtaining personal finance with minimal documentation with very short turnaround time. There's various ways to get personal loan sanctioned from the…
By: will1993 in  Finance  >  Loans   Mar 21, 2016  
0
  Likes: 0

Compare Loans to Get Bad Credit Loans
Loans add up to one’s debt. But there are times, when only a bank loan can fix up the situation. Many people rely on bootstrapping as a form of fundraising, but little do they realise that any misdealing in bootstrapping might ruin relationships. Moreover, nowadays, most banks in the UAE…
By: Zara Ali in  Finance  >  Loans   Mar 21, 2016  
0
  Likes: 0

Let's See If You Really Need A Money Lender
Money Lenders are groups or that provide various of loans to the borrower & charge for the rate of interest. It plays a important role to help people go through their financial crisis under the situation that their information & financial conditions is poor to get the loan from the…
By: will1993 in  Finance  >  Loans   Mar 16, 2016  
0
  Likes: 0

Article Views: 396    Report this Article