Due to your recognised professional status and earning potential some lenders view doctors and other medical professionals as low-risk borrowers.
While lenders will compete harder for your business, not all medical professional finance offerings are equal, and there is often fine print that is important to take into account when evaluating options.
It also remains critical that your finance process starts with a strategy to ensure that the finance raised will help you achieve your medium and long term goals. At Affinitas Finance, we specialise in both the strategy and securing great deals for our medical professional clients.
In the home loan space, some lenders offer medical specialist home loans as well a range of attractive discounts, including discounted fees, better interest rates, higher loan-to-value ratios (LVRs) and the ability to avoid paying lender’s mortgage insurance.
These types of loans can be used to buy a first home, upgrade your home or to purchase an investment property. However, while they’re set up in much the same way as regular loans, as a qualifying medical professional, we are able to help you secure range of attractive benefits and features to reflect the fact that you’re considered a low-risk borrower.
Where regular borrowers are required to take out mortgage insurance for loans over 80% of the value of a property, Some lenders will allow you to borrow up to 90% of the value of the property without having to take out lenders’ mortgage insurance. Depending on the purchase price of your property, this saving can be upwards of $20 000.
We’re able to assist with all aspects of finance you may need for both your personal property portfolio and your practice, including
- Home loans for recent graduates buying your first property
- Home and Investment loans
- Commercial loans to fund practice premises or other investment
- Self Managed Superfund loans
- Equipment loans for specialised medical equipment and for vehicles
We understand that finding time to deal with raising finance, or refinancing to achieve a better outcome or savings is difficult. Our service is tailored to make the process as easy as possible for you.
Some of the ways we do this are:
- We offer a face to face specialist service and will come to you.
- We seek to understand your business, listen to your questions and answer them
- We help you devise a finance strategy and then identify structures and finance products to make it happen.
- We will negotiate on your behalf for the best deal available and work through fine print in detail to make sure there are no surprises.
- We’ll take care of the paperwork, liaise with the lender and your accountant, financial planner and solicitor when needed to minimise the demands on your time.