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Professionals Loan

Some jobs have all the perks – including better deals on home loans. Find out if you can bargain for a better rate…
If you’re in the medical profession and paying a standard mortgage rate, then it’s probably time to do a check-up on your home loan.
Some banks have special home loan packages for medical professionals such as doctors. In the past there were specific discounts for the lawyers and accountants as well, however in recent times these have been less competitive than a professional package with a negotiated interest rate.”
Banks consider doctors to be good risks, which is why they get the best deals.
Doctors can choose between waived lenders mortgage insurance and a discounted interest rate. If you are borrowing more than 80% of the property value, it is usually best to go for waived LMI. But, if you are borrowing under 80% and LMI is not an issue.
Teachers and nurses are also considered significantly lower risks for banks than other professions, as both have stable employment and tend to be conservative with their spending habits. While banks do not offer special discounts for these professionals they will bend their lending guidelines to approve their loans.

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