As a busy doctor, finding home loans for doctors can be a struggle. Whether you’re a first home buyer, looking to refinance or interested in investing, there are so many options out there which can be difficult to navigate.
But home loans for doctors have never been so valuable. With a home loan for doctors, you could:
- Avoid paying LMI (Lender’s Mortgage Insurance) when borrowing up to 100% of your property’s value
- Get into the property market without a 20% deposit or a guarantor
- Be eligible for exclusive interest rates lower than a bank’s advertised rates
- Receive up to $2 000 in cashbacks
These benefits can save you tens of thousands, but can be difficult to find and negotiate on your own. With an experienced mortgage broker for doctors on your side, you’ll save time, money and heartache without compromising on a good deal.
In this article, we’ll explore how a broker can help you:
- Save time
- Save money
- Support the community and the planet
More time saved
While your work is rewarding and vital for your community, it often leaves you short on time and energy. As a result, it can be difficult to adequately prepare for even getting a home loan, let alone a good deal with extra benefits.
Getting a home loan requires thorough research, gathering lots of documents and interpreting complex paperwork, and that’s before you even apply. All this can cut into your valuable spare time and quickly become overwhelming.
That’s where a broker comes in.
Mortgage brokers are experts in all things home loans and have years of experience navigating the property market, comparing home loans, dealing with complex paperwork and communicating with banks. They’re already aware of which banks are offering the most competitive rates and which loans are suited to different customers. Due to their existing relationships with banks, they can often negotiate better deals on home loans and speed up the approval process.
Our brokers will research and compare loans across over 30 lenders so you don’t have to. They’ll also research to ensure you’re eligible for the loans you’re interested in before you apply to save time and resources. Brokers will assist you in preparing your application, communicating with banks and securing the best loan for you situation.
You won’t have to waste your spend time comparing loans, interpreting paperwork or chasing up banks; we do it all for you.
More money in your pocket
Brokers also provide their services free of charge to their customers. Yep, free of charge. When brokers help their clients secure a home loan, the bank providing this loan reimburses the broker for providing them with a good client. Therefore, brokers don’t charge for their services as they’re paid later on.
On average, we’re saving doctors $40 000 in average yearly interest savings when they choose to work with our experienced brokers. We’re also able to use our existing relationship with a range of lenders to negotiate exclusive interest rates (usually lower than those advertised to other customers) and other benefits.
Because brokers compare loans across a range of lenders, you can consider the best deals across the property market. While a bank will only recommend their loans to customers, a broker can examine a range of banks to find the best for you.
If your application is rejected by a lender, this leaves a black mark on your credit score, which can affect your success with future applications. Brokers can help you maintain a good credit score and find better deals by finding lenders who are likely to approve your application and provide the best deal.
More support for the community and the planet
When you work with a mortgage broker at BFG, we’ll make sure your loan is not only working for you, but for the community and the planet too.
When you secure a home loan through us, we’ll invest half of our profits, on your behalf, into projects empowering vulnerable families. With our Home for a Home Program, you’ll not only find your dream home, you’ll help a family in need access valuable housing security.
When making this investment, we’ll donate the money on your behalf and under your name. Not only is this a tax advantage, but you’ll be able to see how your contribution makes a sustainable and empowering difference.
On average, we’re able to donate up to $2 480 per customer to our impact partners when we secure a home loan for doctors. There’s never been a better time to think about how your home loan can make a difference.
But where do I find a mortgage broker for doctors?
Finding an experienced broker is the easiest step in getting the best home loan. Our brokers are available for a chat any time via our website to answer any of your questions or get you started on your application. We also have more information for doctors looking for a home loan on our website.
If you’re applying for a home loan for doctors, use our checklist to make sure you’ve prepared all the relevant documentation.
For more information about home loans for doctors, you can explore our other articles.
Remember that there’s always support available as you find the best home loan for you. No matter how busy you are or how unfamiliar you are with the market, we’re here to support you, the community and the planet. You work to help others, now, let us work to help you.
Disclaimer: The information provided is general in nature and does not constitute financial advice. Please speak to us for recommendations on your individual circumstance and requirements.