LMI waiver for professionals
Which occupations can avoid LMI.
Mortgage Broker in Caringbah
Caringbah is home to Sutherland Hospital, so many local buyers work in health. That opens up lending options many people do not know exist.
LNB Finance arranges home loans in Caringbah, Caringbah South and Taren Point. We compare more than 60 lenders and, for doctors, nurses and other eligible professionals, look specifically at lenders that waive Lenders Mortgage Insurance. In the usual case there is no fee to you.
Caringbah runs along the Kingsway on the Cronulla branch of the T4 line, with units near the station and shops, established houses through the middle, and waterfront homes in Caringbah South. Taren Point, at the Shire end of the Captain Cook Bridge, adds an industrial and commercial area.
Health workers: LMI waivers
Several lenders waive Lenders Mortgage Insurance for eligible medical and allied health professionals, which can let you buy with a much smaller deposit without paying an LMI premium. Eligibility depends on your occupation, registration and the lender's list, and the lists differ.
See home loans for doctors, home loans for nurses and the wider LMI waiver for professionals guide. Shift work matters too: some lenders count penalty rates and overtime more generously than others.
Business owners around Taren Point
Self-employed borrowers are assessed on their business figures, and lenders disagree about what counts. Add-backs such as depreciation and one-off expenses can make a large difference to assessed income, and some lenders will consider one year of financials rather than two.
See self-employed home loans and the documents lenders want to see. If you are buying premises rather than a home, that is a commercial property loan, which works differently.
Waterfront homes in Caringbah South
Waterfront property often has fewer direct comparable sales, so valuations can differ between lenders. On a larger loan, some lenders also reduce the maximum loan-to-value ratio. Choosing a lender with suitable policy for higher-value security is worth doing before you bid.
Common questions
Possibly. Some lenders extend LMI waivers to nurses and midwives, with conditions on registration, deposit and loan size. We check which current lender policies you meet.
Often yes. Some lenders accept one year of financials, and others assess using BAS or accountant declarations. The rate and deposit required can differ.
In the usual case no. The lender pays us on settlement, disclosed in our Credit Guide before you apply.
Buying or refinancing in Caringbah?
One conversation, more than 60 lenders compared, no fee to you in the usual case.
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Sutherland Shire
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