Home Loans For Occupational Therapists

No LMI for Occupational Therapists

Occupational therapists are responsible for aiding patients in recovering and improving their ability to perform daily tasks and activities. On the other hand, our specialists at JFS Financial Strategists are here to help OTs realise their dream home with fast and reliable home loans.

We have helped many occupational therapists get approved for 90% LVR home loans without paying for LMI. With our help, you can save thousands from loan shopping and paying for LMI premiums on your next home loan.

What is the Maximum LVR I can borrow as an Occupational Therapist Without Paying LMI?

Occupational therapists and other medical professionals are qualified to apply for a 90% LVR home loan with LMI waived in two leading banks, ANZ and Commonwealth Bank.

Why is LMI waived for Occupational Therapists?

Home loans higher than 80% loan-to-value ratio (LVR) usually entail a higher financial risk to the bank or lender. Banks typically require Lenders’ Mortgage Insurance (LMI) on high LVR percentages, especially with high-risk borrowers.

Paying for an LMI premium allows the bank’s insurance provider to compensate for any losses acquired after selling your property for loan default.

Moreover, lenders perceive occupational therapists as low-risk borrowers, especially if they can prove a stable income flow.

So if you’re an OT looking for finance, you are eligible for a 90% no LMI home loan since you have a lower risk of defaulting on your loan.

Am I Eligible for a 90% LVR No LMI Loan if I’m Not an Occupational Therapist?

Other medical professionals are still eligible for a 90% LVR without LMI as long as they can prove a stable income and work in a qualified field. Contact us today, and we’ll let you know if you qualify for a home loan without LMI as a medical professional.

What Loan Conditions Should I Remember Before Applying?

Your bank/lender may have LVR limits and conditions for no LMI home loans. At JFS Financial Strategists, we cater to all banks that offer LMI-free home loans to give you a wide range of options for your unique needs as an OT.

Our specialists will take you through different home loan rates so you can find one that best compliments your financial, occupational, and personal goals.

We’ll also discuss any loan conditions on your chosen home loan as mandated by your bank or lender.

Can I Still Enjoy Loan Features if I Waive LMI on My Home Loan?

Occupational therapists can still enjoy the following home loan features and packages even after waiving LMI on your home loan:

• Variable interest rate loan
• Fixed-rate loan
• Interest-only payment period
• Split loans
• Offset accounts
• Line of credit

Reach out to us to discover if you are eligible for a 90% no LMI home loan.

We’ll take you through different reliable home loan packages to avoid having to shop for loan rates and focus on more important work as an occupational therapist.