The professions banks reward
Did you know your job could save you tens of thousands of dollars on your home loan?
Many banks now waive lenders mortgage insurance (LMI) for a range of professions. LMI typically applies when you have less than a 20% deposit, adding significant upfront costs.
Professions like doctors, nurses, teachers, police officers, paramedics, engineers, lawyers, accountants, pharmacists, bankers, and magistrates are considered low risk with stable incomes. These roles may also benefit from higher borrowing limits or better interest rates, making home buying more affordable.
Check if your job qualifies and save money on your mortgage!
00:00 Introduction: Save Thousands on Your Home Loan
00:05 Understanding Lenders Mortgage Insurance (LMI)
00:21 Professions That Qualify for LMI Waivers
00:32 Benefits of Being in a Low-Risk Profession
00:44 Why You Should Check Your Eligibility
Podcast links:
Listen on Apple Podcasts: https://apple.co/3mV0Cbr
Listen on Spotify: https://spoti.fi/3fSPI2h
Website: https://moneymag.com.au
Email: podcast@moneymag.com.au
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