Doctors and Medical Professionals
Loans designed keeping your best interests at heart
At Rise High, we understand that as a medical professional your career can often take over your life making it difficult to pay attention to other life priorities.
Let us simplify the process so you don’t have to give up on your financial goals and dreams!
As your trusted mortgage broker, we are here to make the process easy and simple.
Whether you are looking to buy your first home, invest in property, pay off existing debt sooner through refinancing or debt consolidation, or start your own practice, doctors and medical practitioners often have access to loads of benefits and special discounts, which most clients do not qualify for.
Our award-winning team is here to guide you in finding the right finance to achieve your goals. Our fee-free services will allow you to leave the stress behind, so you can focus on doing what you love the most!
We can't wait to turn your financial dreams into reality!
Understand the process
From assessing how much you can borrow, through to the application process, this is an overview of your journey!
Get your questions answered!
Eligibility, benefits, discounts, grants, and much more! No question is too big or small
Speak to our wonderful team
Our specialist brokers are here to help. Reach out to us today!
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Applying for a Loan as a Medical Professional
As a doctor, you have lots of benefits when it comes to finding the right finance. Whether you are looking for the right home loan, investment property loan, or other sort of finance, our team is here to help!
Set your expectations right, discover how much you can borrow, and explore the benefits available to you as a medical professional
Let our team find the right loan product and features to help you achieve your dreams and goals
Gather the relevant documentation and let us submit your application
Get formal approval for your loan and sign your documents
Have your loan settled and continue to save money as our team conducts regular loan reviews on your behalf for the lifetime of your loan!
Set your expectations right, discover how much you can borrow, and explore the benefits available to you as a medical professional
Let our team find the right loan product and features to help you achieve your dreams and goals
Gather the relevant documentation and let us submit your application
Get formal approval for your loan and sign your documents
Have your loan settled and continue to save money as our team conducts regular loan reviews on your behalf for the lifetime of your loan!
Get your questions answered!
Doctors and medical professionals have access to lots of benefits and options when it comes to financing. We are here to remove the complexity of it all and answer your questions, no matter how big or small!
Which doctors qualify as medical specialists for home loans?
When it comes to loans for doctors and medical specialists, lenders consider most professionals eligible.
Psychologists, naturopaths, nurses, midwives, and research scientists are sometimes excluded from the scheme as they are considered higher-risk borrowers. However, factors such as your employment history, credit rating, and substantial savings can support your application making you eligible for reduced rates and other special benefits.
Working with your Rise High broker will ensure you obtain the best rate and benefits available to you!
What criteria must doctors and medical professionals satisfy to be eligible?
In order to be eligible for these types of loans, you must be a registered member of a medical association, and an official medical practitioner in Australia or New Zealand.
Since the type of your membership registration (generalist, specialist, provisional, limited or non-practising) can impact your eligibility, it is important that you discuss these with your dedicated broker.
Why do lenders favour medical professionals?
Doctors qualify for special benefits and discounts given that they are considered low-risk borrowers by most lenders.
The usually stable and higher than average incomes, tendency to borrow higher loan amounts, and rare likelihood to default, make them eligible for a wide range of benefits the average client doesn’t often have access to.
What documents will you need to apply for a Medical Home Loan?
To support your application for a Medical Home Loan you will initially be required to provide proof of registration with the Medical Board of Australia (or a relevant association), proof of membership with a recognized medical association in Australia or New Zealand, and proof of income (whether it be an employment contract or payslips).
Depending on the type of loan you are applying for, and how much you are planning to borrow, providing proof of at least 5% in genuine savings that can be used towards your deposit might also be necessary.
Your Rise High broker will be there with you every step of the way to provide guidance throughout the application process.
Are other grants and benefits applicable once you apply for a Medical specialist home loan?
Yes! Grants and schemes such as the First Home Owners Grant can still be accessed and will not overlap with the benefits already provided to you as a practitioner. You can read more about these on the sections below.
With a loan for medical professionals, you can access and enjoy the benefits of both!
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Which doctors qualify?
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Eligibility criteria
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Why do doctors benefit?
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Documentation requirements
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Grants and benefits
Which doctors qualify as medical specialists for home loans?
When it comes to loans for doctors and medical specialists, lenders consider most professionals eligible.
Psychologists, naturopaths, nurses, midwives, and research scientists are sometimes excluded from the scheme as they are considered higher-risk borrowers. However, factors such as your employment history, credit rating, and substantial savings can support your application making you eligible for reduced rates and other special benefits.
Working with your Rise High broker will ensure you obtain the best rate and benefits available to you!
What criteria must doctors and medical professionals satisfy to be eligible?
In order to be eligible for these types of loans, you must be a registered member of a medical association, and an official medical practitioner in Australia or New Zealand.
Since the type of your membership registration (generalist, specialist, provisional, limited or non-practising) can impact your eligibility, it is important that you discuss these with your dedicated broker.
Why do lenders favour medical professionals?
Doctors qualify for special benefits and discounts given that they are considered low-risk borrowers by most lenders.
The usually stable and higher than average incomes, tendency to borrow higher loan amounts, and rare likelihood to default, make them eligible for a wide range of benefits the average client doesn’t often have access to.
What documents will you need to apply for a Medical Home Loan?
To support your application for a Medical Home Loan you will initially be required to provide proof of registration with the Medical Board of Australia (or a relevant association), proof of membership with a recognized medical association in Australia or New Zealand, and proof of income (whether it be an employment contract or payslips).
Depending on the type of loan you are applying for, and how much you are planning to borrow, providing proof of at least 5% in genuine savings that can be used towards your deposit might also be necessary.
Your Rise High broker will be there with you every step of the way to provide guidance throughout the application process.
Are other grants and benefits applicable once you apply for a Medical specialist home loan?
Yes! Grants and schemes such as the First Home Owners Grant can still be accessed and will not overlap with the benefits already provided to you as a practitioner. You can read more about these on the sections below.
With a loan for medical professionals, you can access and enjoy the benefits of both!
Discover the benefits of your loan
Wondering what benefits and concessions are available to you as a medical professional? Here are a few!
Save on Lenders Mortgage Insurance!
Lenders Mortgage Insurance (LMI) is usually payable when you borrow an amount greater than 80% of the property’s value.
As a medical professional, lenders will waive this fee even if you borrow 100% of the property’s value!
Thinking about applying with a partner who is not a doctor? This concession will still apply as long as one of the borrowers is eligible for a medical loan.
Low deposit requirements
As a professional in the medical field, your borrowing capacity is much higher than the average client’s.
With a higher loan-to-value ratio (LVR), your deposit requirements become much lower and can sometimes even be reduced to none depending on what you currently earn.
Exclusive Rate Reductions for Medical Professionals
In the eyes of lenders, your profession as a doctor or medical professional marks you as a high value customer.
This translates into lower interest rates, a benefit we, at Rise High, are committed to securing for you.
Our Rise High brokers are experts in securing interest rates lower than those typically available to the public, ensuring you receive rates that others can’t.
More benefits
The specific financial demands placed on medical professionals require tailored solutions to meet their needs.
Lenders will often offer loan features such as Umbrella Loan facilities to allow easy management under one single facility of multiple loans (such as those for education and homeownership), or 100% offset accounts you can use to save money on the interest of your loan!
Our team of experts is always here to support you in making great choices for your financial journey!
-
Lenders Mortgage Insurance
-
Deposit requirements
-
Lower Interest rates
-
Additional benefits
Save on Lenders Mortgage Insurance!
Lenders Mortgage Insurance (LMI) is usually payable when you borrow an amount greater than 80% of the property’s value.
As a medical professional, lenders will waive this fee even if you borrow 100% of the property’s value!
Thinking about applying with a partner who is not a doctor? This concession will still apply as long as one of the borrowers is eligible for a medical loan.
Low deposit requirements
As a professional in the medical field, your borrowing capacity is much higher than the average client’s.
With a higher loan-to-value ratio (LVR), your deposit requirements become much lower and can sometimes even be reduced to none depending on what you currently earn.
Exclusive Rate Reductions for Medical Professionals
In the eyes of lenders, your profession as a doctor or medical professional marks you as a high value customer.
This translates into lower interest rates, a benefit we, at Rise High, are committed to securing for you.
Our Rise High brokers are experts in securing interest rates lower than those typically available to the public, ensuring you receive rates that others can’t.
More benefits
The specific financial demands placed on medical professionals require tailored solutions to meet their needs.
Lenders will often offer loan features such as Umbrella Loan facilities to allow easy management under one single facility of multiple loans (such as those for education and homeownership), or 100% offset accounts you can use to save money on the interest of your loan!
Our team of experts is always here to support you in making great choices for your financial journey!
Let us help
Ultimately, we will be here to help you navigate through all of these questions and more, being by your side throughout the entire journey and helping you out through every stage.
We will be there to simplify the process so you can focus on your career and other priorities, investing your time in what matters most!
Most importantly, we are here to empower you so you can believe there is no need to compromise when it comes to making your goals and dreams come true!
We can’t wait to support you in this exciting journey!
Ready to get started?
Our award-winning mortgage brokers are always here to look after you and support you in achieving your dreams and goals. With a fee-free service, complimentary loan reviews that save you money, and regular updates and communications, you can trust that we will always put you first and have your back!