Home Loans For Optometrists

No LMI Home Loans for Optometrists

Optometrists help their patients see the world better and clearer. While it’s your duty to give people crisp and clear vision, our job at JFS Financial Strategists is to keep your dream home in focus with fast and reliable home loans.

We have time-tested experience helping optometrists finance their new homes, expand their practice, and build investment portfolios while saving thousands of dollars from LMI.

What is the Maximum LVR I can Apply for as an Optometrist Without Paying LMI?

Optometrists and other medical professionals are fully eligible for 90% LVR home loans without paying for LMI on two leading Australian banks: ANZ and Commonwealth Bank.

Why do Lenders Waive LMI for Optometrists?

Typically, banks expose themselves to higher financial risk when approving home loans of more than 80% LVR. Your lender will then require Lenders’ Mortgage Insurance to compensate for this risk.

By paying for an LMI premium, your lender’s insurance provider will reimburse any losses your bank incurred in case of a loan default where they’ll sell your property at a loss.

However, optometrists are seen as low-risk borrowers with considerably stable sources of income. So if you’re an optometrist looking to finance your next home purchase, apply for a 90% home loan, and you can waive your LMI as you have lower chances of defaulting your loan.

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

Other medical professionals are still eligible for a 90% LVR without LMI if 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.

Are There Conditions I Should Be Aware of When Applying?

JFS Financial Strategists accommodate all banks offering LMI-free home loans for optometrists. Our wide range of bank and home loan options will help you find the perfect home loan rate and term that works for you – all without paying LMI fees.

We also make sure that as an optometrist, you have a clear view of any condition or LVR limits so you can plan your financial goals ahead and ensure a practical and smooth journey. 

What Loan Features Can I Get if I Waive LMI on My Home Loan?

Optometrists have access to the following loan features and packages even after waiving LMI on your home loan:

• Variable interest rate loan
• Fixed-rate loan
• Interest-only period
• Split loans
• Loan offset accounts
• Extra lines of credit

Feel free to speak with us to discover if you qualify to waive LMI on a 90% LVR home loan.

We’ll take you through various home loan packages that work for your needs so you can keep your eyes on more important work as an optometrist.