05 Jul 2021

Home Loans for Nurses, Police, and Firemen

Home Loans for Nurses

Banks tend to be more flexible on their lending criteria for nurses. For instance, if you can prove that you have a stable income and substantial income, you may qualify for waived Lenders Mortgage Insurance when you borrow 80% of the property’s value. You may also be eligible for discounted interest rates if you borrow over $250,000. You can also borrow between 90-95% if you have a clean credit history, timely repayments, stable employment, good income, and minimal debts. Finally, you may also qualify for a 100% home loan without LMI or a guarantor if you have a high income and have been a nurse for over 3 years. However, the interest rates are usually high with strict criteria. 


Home Loans for Police

Law enforcement officers may qualify for notable home loan exceptions. If you have a clear credit history, stable employment, good income, and few debts, you can borrow 95% of the property’s value. If your parents act as a guarantor, you can borrow 110% of the property’s value plus purchasing costs. If you have stable employment, you may be able to negotiate your interest rates with specific lenders.


Home Loans for Firemen

If you have a strong application, you may qualify for particular home loans. You can borrow 95% if you have a clear credit file, earn a steady income, and have way more income than you do debts. You can borrow 110% if your parents act as a guarantor. In addition, you may also qualify for competitive interest rates. 


If you are a nurse, police, or fireman searching for a home loan, contact the brokers at Mortgage House. We offer home loan discounts for qualified professionals. Our interest rates are more competitive than those offered by traditional lenders. 

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