Home Loans for Accountants
Accountants are entitled to special rates and discounts due to the low default risk of their industry members. Many accountants use waived LMI to build a property portfolio.
Borrowing capacity
✅Borrow 90% with no LMI.
✅Borrow 105% (full vale of property + purchasing costs) with a GUARANTOR.
✅Borrow up to $2,700,000 to buy a home. This means you can purchase a $3,000,000 property.
✅Higher borrowing capacity for property investing.
Lending criteria
✅Must be an:
⇒ Accountant
⇒ Actuary
⇒ Finance Manager
⇒ Auditor
⇒ Chief Financial Officer
⇒ Finance Director
⇒ Financial Controller
✅Must be on the banks lists of accredited professionals.
✅Individual income greater than $120,000-$150,000 gross.
⇒ $150,000 in NSW, QLD, VIC & ACT.
⇒ $120,000 in WA, SA, NT & TAS.
⇒ can use rental income to help meet the criteria.
⇒ can use non-professional spouses income to bump up income.
✅Must have accreditation documents or industry membership.
⇒ Chartered Financial Analyst (CFA)
⇒ Chartered Practicing Accountant (CPA)
⇒ Chartered Accountants of Australia (CA)
⇒ Fellowship of the Institute of Actuaries of Australia (FIAA)
⇒ Chartered Accountants Australia & New Zealand (CAANZ)
✅Can be self employed if you provide income statements to prove the $150,000 criteria.
✅Can be owner occupied or investment property.
✅Australian citizens & permanent residents only.
Do accountants get special interest rates?
Negotiated on a case-by-case basis. Factors include:
✅Borrowing amount.
✅Which membership you hold in relevant industry body.
✅The LVR or Loan to Value Ratio. The lower the LVR, the better the rate.
Why should I use a mortgage broker?
✅Know the lenders that reward accountants with special offerings.
✅Make sure you are offered your full entitlement.
✅Negotiate a special interest rate on your behalf.
✅Do all the paperwork and heavy lifting.
✅No fee service. Paid by the lender.
I'm here if you need me.
Matthew Stack
matthew@mortgagebrokerrevesby.com.au
www.mortgagebrokerrevesby.com.au
0423 237 242
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