Home Loans for Dentists
Award Winning Mortgage Brokers For Dentists
How We Save Dentists $80,000 On Average
We Help Dentists Access Special Home Loan Discounts Below The Advertised Interest Rate
Specialist Interest Rates for Dentists
We negotiate a special ‘Dentists Only‘ rate for you, backed by a 98% approval rate. No matter your financial circumstances, we will find your best options as a dentist within just 24 hours.
Waived LMI for Dentists
Borrow up to 100% of your home loan value and pay nothing in LMI. We save doctors an average of $50,000 in LMI costs on a 95% LVR home loan with a $1,000,000 purchase price.
We Cover Annual Loan Fees for Dentists
We’re so confident with our offering for dentists that we pay your annual loan fees! This applies for all home loans above $500k, saving you an additional average of $11,850 over the lifetime of your loan!
Cash Back Offers for Dentists
Speak to one of our senior brokers now and get the best cash backs offered by Australia’s leading banks. Get up to $4,000 in cash back and save! Our brokers will find you the best deals in the market.
We Make Home Loans Easy For Dentists
Make An Enquiry
Enquire between 8am to 8pm, Monday to Sunday and we call you back within 5 minutes. Our brokers work around the clock to help you!
Speak With A Broker
We assess your situation, negotiate rates, screen lenders and present you with your best options. We are with you every step of the way!
Loan Approved
You pick the best option that suits you and we get your home loan formally approved! We make the whole home loan process easy!
Our Lenders
We Get Tough Home Loans Approved for Dentists
We’re your first and last mortgage brokers. Our dentists mortgage specialists are the people who get called when no other broker can get a loan approved.
Our senior brokers have extensive experience working in major Australian banks as the people who approve or decline loans. In other words, we know what the banks are looking for when it comes to getting any home loan approved for dentists.
Each of our senior brokers are ranked amongst the top 100 brokers in Australia. This means that no matter who you speak to at our brokerage, you’re speaking with the best in the industry.
Speak to one of our senior brokers today and we’ll present you with your best options moving forward!
Dentist Home Loan FAQs
Waived LMI Home Loans for Dentists
As dentists, you understand the importance of a healthy and confident smile. With a dentist mortgage broker, you can experience a bright housing future just as you give brighter smiles to your patients.
Standard home loans may not complement your busy schedule, financial circumstances or acknowledge your medical achievements as borrowing power. That’s where specialised home loans for dentists come in.
A dentist home loan offers specialised loan solutions for a dental professional’s needs. By partnering with mortgage brokers for dentists, you access exclusive discounts, benefits, and LMI waivers suited for your unique circumstances.
At Mortgage Pros, we help seek finance for hundreds of dentists all over Sydney. Chat with us today, and we’ll let you know whether you qualify for up to 95% Loan-to-Value Ratio (LVR) home loans without Lenders’ Mortgage Insurance (LMI).
We comb through the fine print so you can focus on your career with peace of mind.
Can I Get 95% LVR with no LMI as a Dentist?
Like any health professional, dentists have certain housing needs and circumstances unique to other loan applicants. Being a medical professional isn’t a walk in the park, and you need a home loan that acknowledges your situation, expertise, and potential for long-term success.
Dentists are eligible for 95% LVR home loans and skip the hefty LMI fees. Our panel includes major lenders offering dentist home loans where we can negotiate the best rates for health professionals.
Why can Dentists waive LMI fees?
Say you’re a Sydney dentist purchasing a $1,000,000 property. A 90% LVR home loan will finance $900,000 plus Lenders’ Mortgage Insurance or LMI.
Banks often require LMI premiums to secure them in case you default on the loan. They usually charge this fee upfront or added into your total loan amount.
Note that LMI fees vary depending on several factors, such as:
- Total loan amount
- Loan-to-Value Ratio (LVR)
- Initial deposit amount
- Other lender-unique loan policies
Moreover, your occupation, experience, current job security, and income directly impact your eligibility to waive LMI fees.
Otherwise, we can explore other home loan solutions offering reduced LMI fees and discounted rates for dentists, including Medico home loan packages. Allied health professionals, including dentists, can waive LMI premiums since you are a strong borrower with a stable income.
Banks see dentists (like you!) as strong borrowers with less likelihood of financial hardship, Low risk means no LMI!
Skipping the hefty LMI fees can boost fresh dentistry graduates and experienced dentists into owning their first property! Our dentist mortgage brokers can also help dentists working on career development apply even when they cannot secure a 20% discount.
We’ll also take you through specialised home loan options for dentists, save thousands from LMI premiums, and get the lowest interest rate available!
I’m Not a Dentist. Can I Still Apply for No LMI Loans?
Income stability is key! Our panel of banks and non-bank lenders offer LMI-free loans for high-income allied health professionals.
You can call us at 1300 030 388 today to discuss your financial situation to discover whether you have enough deposit to become a strong borrower.
You can also explore other options and apply for family guarantee home loans or First Home Guarantee (FHG). Sit with our specialist mortgage brokers, and let’s discuss which home loan solution fits your needs.
I’m eligible and want to apply. Is there a catch?
Each bank and lender have specific terms and varying interest rates for dentists. That’s why we keep a list of 40+ Australian banks and lenders offering LMI-free dentist home loans, so we know it all!
We don’t limit our choices to a couple of home loan options. You can explore around 10 to 40+ home loan options with our dentist mortgage brokers, so you can choose one that fits your needs and financial capacity!
We provide mortgages for professionals by professionals. At Mortgage Pros, we’ll elaborate on any loan conditions and limits on the LMI-free home loan that you choose.
Our team leaves no stone unturned, ensuring you walk away closer to your dream home. You will be oriented to know your loan conditions fully, so you’re not left in the dark.
Do LMI-Free Home Loans come with loan features?
Skipping the LMI fees as a dentist doesn’t limit your home loan benefits!
You can access standard home loan features as with a regular home loan. These packages and features can offer flexible payment options and loan management, including:
- Fixed-rate loan period
- Credit card with ongoing fee waived
- Variable-rate loan period
- Interest-only period
- Loan offset accounts
- Separate lines of credit
- Split loans
- Redraw
Discuss your financial situation with us at 1300 030 388, and let’s chat how and when you want to realise your dream home. Being a future homeowner as a dentist can be daunting. But our specialist mortgage brokers at Mortgage Pros will ensure you don’t venture into homeownership with clenched teeth.
Why Aussie Dentists Are Choosing Mortgage Pros
- We’ve worked in the banks as the people approving and declining loans so know how to get your loan approved.
- Leverage our premium broker status and get faster turnaround times & cheaper interest rates.
- We have access to special divisions of the major banks not available to the general public.
- We hold your hand the entire way. We’ll keep you updated and walk you through the whole process.
- Trained some of the most knowledgeable mortgage professionals in the industry.
- Multi award winning mortgage brokerage with all brokers amongst the top 100 mortgage brokers in Australia.
Our Mortgage Specialists For Dentists
We negotiate the best home loan rates for Dentists
Russell Munfaredi
Managing Director / Owner
Eric Yeo
Senior Mortgage Broker
Peter Ha
Senior Mortgage Broker
Dentist Home Loan Case Studies
DR JOHN’S HOME LOAN CASE STUDY: 95%LVR WAIVED LMI FOR DENTIST
Profile: John is a dentist based in South West Sydney and earns $140,000 per annum
Objective: He wants to buy his first home, an apartment, for $700,000 so he can be closer to work & stop paying $700 per week in rent.
Problem: While speaking to family, David discovers to his dismay, that his $50,000 in savings is not enough. He will either need to save another $90,000 to make up a 20% deposit, dole out several thousand for LMI or ask his parents to act as guarantors for his home loan to be approved.
Solution: After discussing his situation with a colleague, David is referred to his colleague’s mortgage broker, Mortgage Pros, who specialise in home loans for dentists. There he discovered that a few select lenders offered home loans catered for dentists.
He can borrow 95% of the property value without paying lenders’ mortgage insurance and even receives a larger interest rate discount. After crunching the numbers, David is told if he borrows $665,000, 95% of the purchase price, he will save about $25,000 in LMI costs.
Like David, you can save thousands on your home loan with an LMI waiver. You can always contact one of our mortgage brokers specialising in home loans for doctors by calling us on 1300 030 388 or enquiring online.
DR TANYA’S PROPERTY PORTFOLIO CASE STUDY: SAVINGS THOUSANDS BY REFINANCING
Profile: Tanya is a dentist based in Melbourne. She & her husband, who works in IT, have a combined household income of $400,000 annually. Both have been very successful with investment properties and amassed a portfolio of 5 properties across Australia, roughly half paid off.
Objective: With interest rates rising, Tanya has seen her rates go from 1.94% to 6.80% in about a year. She hopes to ensure she is on the lowest rate possible without paying more than she needs to.
Problem: Tanya calls her existing bank and requests them to give her a better interest rate on her home loan. She wants the rates which are advertised on their website. They regret to inform her that they cannot assist as the rates on their website are limited to new bank customers & she is already on the best they can offer.
Solution: After discussing his situation with a work colleague, Tanya is referred to her colleague’s mortgage broker, Mortgage Pros, who specialise in home loans for doctors. They thoroughly analyse her situation & the market to find her the best deal. Jen refinanced all her loans and was able to achieve the following:
- Lower the interest rates on her loans by 0.50%. Saving her approx. $21,000 per year in interest.
- Take advantage of the cashback the bank was offering. She was able to obtain a $4,000 cashback per property. Hence as she had 4 properties, the bank paid her $16,000 to move her business over.
DR KATHERINE’S HOME LOAN CASE STUDY: STARTING AN INVESTMENT PORTFOLIO
Profile: Katherine is a self-employed dentist contracting to two dental clinics, one in North Sydney & the other in the inner west of Sydney. She earns 200k per annum & owns an investment property she recently purchased.
Objective: Katherine is seeking to create an investment property portfolio that she will use to generate passive income that will allow her to retire early.
Problem: Katherine speaks to her existing bank about getting preapproval, and they tell her, to her shock her maximum borrowing capacity for new lending is $200,000. Katherine cannot comprehend how her borrowing power is so low. She is on a good income, has a large deposit & the rent from her current investment property covers the repayments of the loan.
Solution: After researching online, Katherine stumbled upon the Mortgage Pros website and saw they specialise in home loans for dentists. She called through and, in under a week, was preapproved to purchase another two properties for 1.2 mil combined value and only needed to make a few simple changes.
They included:
- Canceling all credit cards: Katherine had three credit cards with a total limit of $40,000. Even though credit cards were seldom used & obtained mostly for the purpose of points & travel, due to regulations, banks must factor them in as if they were at their limits. This reduced her total borrowing power by approx—$ 280,000.
- Paying out her HECS: Katherine had $20,000 owing in HECS/HELP. As with the way HECS works, the more you earn and the faster you pay back; Katherine was in the largest repayment bracket and was required to make $1,667 in repayments monthly. This reduced her borrowing power by over $200,000.
- Selecting the right bank that will maximise his borrowing capacity. By reverse engineering the methods each of the banks work out their borrowing capacity, we can identify crucial differences in their methods of calculation. By evaluating these differences, we determine which ones may apply to Katherine’s situation and then simulate the impact. For his case, we identified the biggest impact on her borrowing capacity was using her income on her most recent year’s tax returns instead of averaging the income she earned over the past two years.
