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Home loans for doctors, medical professional and health care professionals

 

Updated: Correct as of 1st August 2015.

 

Sometimes referred as a medico package home loan, as the name suggest it's a special discounted home loan ( life of the loan discounts) with special flexible policy made available for borrowers employed in the medical industry.

 

Bank's provides favorable discount and flexible policy for medical professionals and other professionals because, according to bank's statistic Medical professionals and Doctors has the lowest mortgage delinquency rate and tend to start their own practice which require commerial and business loan later down the track.

 

The 9 industries that banks has special policy and loans for;

 

1. Medical professionals, health care professionals, nurse and doctors

2. Lawyers, barrister, judge and magistrate

3. Civil Engineers, Software Engineers, mining Engineers and geotechnical sciences

4. Accountant with CPA or CA and Financial Planners, Auditors and Actuarial

5. CEO, CFO and high management

6. Real estate agents, property valuers, Quantity Surveyor and Architects

7. Politician 

8. Professional athletics

9. Actors, actress, public personnel, Radio host and Television host

 

Loans for Doctors, Dentist, Optometrist, Pharmacist and other medical profesionals 

 

Type of loans and specials for health care professionals 

 

Will have access to the following.

  • NO LMI ( No Lenders mortgage insurance)  loans up to 85%, 90% and 95% LVR
  • A bigger discount on home loans, commercial loans and business loans - Available for investment loans and owners occupied
  • Flexible choice of income - We can accept 1 years self employed tax returns  and also we can accept 1 years ABN for contractors
  • Increase borrowing capacity than your average loan
  • A wider rang of securities that we can accept at a higher LVR - Dual key apartments/ Units under 50 sq meters
  • Access to higher LVR commercial loans and business loans
  • Probation is fine, as one as you have been employed for one day
  • Access to full doc loans and low doc loans

No LMI home loan for Medical professional, Nurse and Doctors

 

85% LVR NO LMI

90% LVR  NO LMI

95% LVR NO LMI

Anaesthetist  NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Cardio Thoracic Surgeon  NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Cardiologist  NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Chiropractor  NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Clinical Pharmacologist  NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans PPOR ( Income requirement A)
Cosmetic Surgeon  NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Dentist  NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Dermatologist  NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Ear and Throat Surgeon  NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Emergency Surgeon   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Endocrinologist  NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Gastro Intestinal Surgeon   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Gastroenterologist   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Haematologist   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Hepatologist   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Immunologist   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans PPOR
Nurse  NO LMI loans IP and PPOR   No LMI loans for doctors  No LMI loans for doctors
Neuro Surgeon  NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Neurologist and Nephrologist    NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Obstetrician   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Oncologist   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Ophthalmologist   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Optometrist   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans PPOR ( Income requirement B)
Oral and Maxillofacial Surgeon   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Orthopaedic Surgeon   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Orthopaedic Registrars   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Otolaryngologist   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Paediatric Surgeon (Neonatal/Perinatal)   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Pathologist   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Pharmacist   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans PPOR
Physio   NO LMI loans IP and PPOR   NO LMI loans PPOR ( Income requirement A)   No LMI loans for doctors
Plastic Surgeon   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Psychiatrist   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Radiologist   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Radiographer   NO LMI loans IP and PPOR   NO LMI loans PPOR ( Income requirement A)    No LMI loans for doctors
Reconstructive Surgeon   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Respiratory/Thoracic Surgeon   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Rheumatologist   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Surgeons   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Urologist   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Vascular Surgeon   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
Veterinarian   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR   NO LMI loans IP and PPOR
       
       

 

PPOR = Principle place of resident  

IP = Investment property

 

Available for refinance/ Purchase and debt consolidation.  

Correct as of 1/8/2015

 

Income requirement for Doctors NO LMI 95% LVR  ( Income A and B from table above) 

 

For Radiographer, Physio, Optometrist and Clinical Pharmacologist  90% and 95% LVR with no LMI, has a minimum gross income requirement.

 

Income A - minimum gross income of $150,000 per year for the applicant that's an acceptable medical profession. 

Income B - minimum gross income of $170,000  per year for the applicant that's an acceptable medical profession. 

 

 

Gross income PAYG = Base income + bonus ( Average over 2 years) +  Overtime + Rental income

Gross income PAYG Contractors = Base income + bonus ( Avergae over 2 years) +  Overtime ( Over 6 month)  + Rental income

 

Gross income Self employed = Net income ( After expense before tax) + Add backs ( Depreciation and Superannuation over 9.5% etc...) +  Rental income

Gross income Self employed Contractors =Net income ( After expense before tax) +  Add backs ( Depreciation and Superannuation over 9.5% etc...) +  Rental income

 

 

 

90 and 95% LVR no LMI for Doctors

 

Eligibility for Medico Package home loans and NO LMI home loans

Anaesthetist.
Cardio Thoracic Surgeon
Cardiologist

Chiropractor
Clinical Pharmacologist
Cosmetic Surgeon
Dentist
Dermatologist
Ear and Throat Surgeon
Emergency Surgeon
Endocrinologist
Gastro Intestinal Surgeon
Gastroenterologist
General Practitioner
General Surgeon
Gynaecologist
Haematologist
Hepatologist
Immunologist

Nurse
Nephrologist
Neuro Surgeon
Neurologist
Obstetrician
Oncologist
Ophthalmologist
Optometrist
Oral and Maxillofacial Surgeon
Orthopaedic Surgeon
Orthopaedic Registrars
Otolaryngologist
Paediatric Surgeon (Neonatal/Perinatal)
Pathologist

Pharmacist

Physio
Plastic Surgeon
Psychiatrist
Radiologist
Reconstructive Surgeon
Respiratory/Thoracic Surgeon
Rheumatologist
Surgeons
Urologist
Vascular Surgeon
Veterinarian

 

 

 


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