Are you a medical professional, lawyer, accountant, or another skilled professional looking to buy a home? With a No LMI Loan for Professionals, you can secure a home loan with a lower deposit and avoid the added cost of Lenders Mortgage Insurance (LMI). This special loan product is designed for professionals like you, offering more flexibility, lower upfront costs, and the opportunity to enter the property market faster.
At National Mortgage Centre, we specialize in No LMI loans tailored specifically to professionals, making it easier for you to buy your home without the burden of extra insurance fees. Learn how you can benefit from these exclusive home loan products.
A No LMI Loan for Professionals is a home loan product that allows eligible professionals to borrow up to 95% or more of the property value without the need for Lenders Mortgage Insurance (LMI). LMI is typically required by banks and lenders when a borrower’s deposit is less than 20% of the property’s value, and it can add significant costs to the loan.
Who is Eligible for No LMI Loans for Professionals?
To qualify for a No LMI Loan for Professionals, you must meet certain criteria, including professional qualifications and a strong financial position. Typical eligible professions include:
Patabedhige Chinthana Wijeweera is a credit representative
(Credit Representative number 444285) of BLASSA Pty Ltd
(ACN 071979498)
(Australian Credit Licence number 391237)
State Revenue Office – Victoria
https://www.sro.vic.gov.au/
First Home Guarantee Scheme – Property Price Caps & Eligibility https://www.housingaustralia.gov.au/first-home-guarantee