Q: What are the best home loan for doctors?
- Medico Home Loan
The Medico Home Loan, offered by several Australian lenders, is a popular option for doctors. This home loan is specifically designed for medical professionals, with features such as lower interest rates, no Lenders Mortgage Insurance (LMI), and the ability to borrow up to 100% of the property value.
- Doctor’s Package Home Loan
Another option for doctors in Australia is the Doctor’s Package Home Loan, which is offered by several major banks. This home loan package includes features such as lower interest rates, waived LMI, and a range of other benefits such as discounted credit cards and transaction accounts.
- Professional Package Home Loan
Some lenders also offer a Professional Package Home Loan, which is designed for high-income earners such as doctors. This home loan package includes a range of features and benefits, such as a discounted interest rate, waived LMI, and the ability to bundle other financial products such as credit cards and insurance.
- Low Doc Home Loan
If you’re a self-employed doctor or have irregular income, a Low Doc Home Loan may be a good option for you. This type of home loan is designed for borrowers who may not have traditional proof of income, with features such as no financial statements or tax returns required.
- Construction Home Loan
If you’re looking to build a new home, a Construction Home Loan may be a good option for you. This type of home loan can be tailored to your specific needs as a doctor, with features such as no LMI and the ability to borrow up to 90% of the property value.