HOME LOANS for MEDICAL DOCTORS and HEALTHCARE PROFESSIONALS
Sometimes also referred to as "Medico Pack" home loans, home loan for doctors is a special discounted loan package available to certain medical practitioners and healthcare professionals. If you are a medical doctor, you can obtain incredible discounts and amazing benefits because statistics has confirmed that medical professionals have the lowest delinquency rate plus a higher than average loan size.
What Special Discounts do Medical Doctors Receive?
When a doctor, a medical practitioner or a healthcare professional applies for finance, he/she receives a wide range of discounts such as:
- Better interest rate discounts
- Discounts on Lenders Mortgage Insurance (LMI) or even no LMI
- Easier loan approval - even for the typical "hard loan proposals"
- No set-up cost or application fees
- No valuation required
- Special interest rate for family members
- Professional home loan & refinance loan packages available
- Easier cash out (home equity release loans)
In addition to the above special discounts, home loan for doctors also provides the following benefits:
- Confirmation and validation of 5 per cent genuine savings and history of savings are not required for application
- A maximum loan to value ratio (LVR) of 90 per cent may be approved without any need to obtain LMI
Who is Eligible for Medico Home Loans?
- Doctor of Medicine
- General Practitioner
- Veterinary Practitioner
- Hospital - Employed Doctors (Intern, Resident, Registrar, Staff Specialist)
What Types of Security Property are Acceptable?
The following types of properties can be provided as security for medico home loans:
- Residential properties
- Practice premises that are converted residential houses
What are the Acceptable Loan Purposes?
- Purchase owner occupied and investment dwellings
- Equity release
- Refinance and debt consolidation
- Establish a medical practice
Can I Refinance Working Capital?
Refinancing of working capital, equipment finance and all other business loans are excluded from medico home loans.
What Employment Verification is Required?
You must confirm your qualification and employment as a medical professional via one of the following methods:
- Copy of University degree or qualification
- Copy of Registration with the Medical Practitioners Board of Australia or equivalent body
What Type of Income Verification is Required?
Copies of the most recent Tax Return is required for both:
- Established self employed medical practitioners
- PAYG medical professionals
How can Singh Finance help you in getting Medico Home Loan for Doctors?
Searching for the right loan is time-consuming and confusing. However, the right help from a finance expert can make medico home loan for doctors easy, quick and stress-free.
Singh Finance's team of expert finance brokers are all qualified accountants and they fully understand the complexities of matching a medico home loan to your objectives and finance needs. If you are seeking finance assistance and you want further clarification of the benefits, features or special discounts related to the loan package, call on 0424 190 908 or enquire online. Singh Finance will eliminate stress and save you valuable time in getting loan approval.
Singh Finance Pty Ltd
P.O Box 4042
Parramatta NSW 2124
Ph: 0424 190 908
Fax No. 02 9608-6279
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