Did you know?
Nurses and midwives are considered a low-risk profession by many lenders and are now eligible for some of the same discounts previously exclusive to doctors.
What does this mean for you?
- You can get a loan with only a 10% deposit or 90% LVR
- You don’t need to pay Lenders Mortgage Insurance (LMI)
- Discounted rates on certain packages
Check your eligibility.
- Income must be $90,000p.a. or over
- Casual or full-time employment, including overtime and allowances
- Good credit history
- Work in hospital, emergency care, aged care, rural, metro, general practice, community health etc. in either the public or private sectors
- Property purchase is either to live in or for investment
How much can I borrow?
- Borrow 20%+ of the purchase price with no LMI
- Borrow 10% of the purchase price with no LMI
- Borrow 5% of the purchase price or use a guarantor – potential to incur LMI depending on structure and lender
Can I use overtime, fringe benefits and allowances?
Yes, you can!
I work with several lenders that understand the role of nurses and midwives and will take into account 100% of your overtime income.
In addition, fringe benefits such as meal allowances and untaxed income can be used as well, greatly assisting with your borrowing power.
Get in touch.
Are you a nurse or midwife? Get in touch today to discuss the loan options specific to your situation.