Home Loans for Engineers
Qualify for Discounted Interest Rates & Waived LMI
If you are an engineer, you may qualify for a home loan of up to 85% of the property purchase price without paying Lenders Mortgage Insurance (LMI). Previously only available to teachers, police, doctors, paramedics and firefighters, a change in policy opens it up to engineers.
If you're in the market to purchase a home or refinance, contact Mortgage Broker Revesby to determine whether you are eligible for a LMI waiver and special interest rate discounts.
✅15% deposit and no LMI.
✅Special interest rate discounts - up to 1%.
✅Higher borrowing capacity.
If you're in the market to purchase a home or refinance, contact Mortgage Broker Revesby to determine whether you are eligible for a LMI waiver and special interest rate discounts.
✅15% deposit and no LMI.
✅Special interest rate discounts - up to 1%.
✅Higher borrowing capacity.
Why do engineers get waived LMI?
LMI is an insurance that protects the lender from you defaulting on your mortgage repayments. It is payable for all loans that exceed 80% Loan-to-Value. Engineers have higher incomes, strong employment prospects, and several lenders view them as having lower repayment default risk.
✅That's a saving of $5,000 - $20,000.
✅That's a saving of $5,000 - $20,000.
Do I qualify for waived LMI?
✅A strong income >$150,000 (NSW).
✅A member of an industry association:
👉Institute of surveyors
👉Engineers Australia
👉Australian Institute of Mining Surveyors (AIMS)
👉Fellowship of the Australian Institute of Geologists
👉Australian Institute of Quantity Surveyors
✅A copy of your degree or evidence you work as an engineer.
✅Worked as an engineer for at least 1 year.
✅Clean credit file with no defaults.
✅Minimum 10% deposit.
✅A member of an industry association:
👉Institute of surveyors
👉Engineers Australia
👉Australian Institute of Mining Surveyors (AIMS)
👉Fellowship of the Australian Institute of Geologists
👉Australian Institute of Quantity Surveyors
✅A copy of your degree or evidence you work as an engineer.
✅Worked as an engineer for at least 1 year.
✅Clean credit file with no defaults.
✅Minimum 10% deposit.
What kind of engineers qualify for the loan?
Typically lenders do not distinguish between mining engineers or civil. You can be a:
✅Mining engineer - member of Engineers Australia.
✅Mine Surveyor - must be member of AIMS.
✅Surveyor - must be a member of the Institute of Surveyors in the state where you work.
✅Quantity Surveyor - must be a member of the Australian Institute of Quantity Surveyors.
✅Geologist or Geophysicist - Fellow of Australian Institute of Geo-scientists (FAIG).
✅Mining engineer - member of Engineers Australia.
✅Mine Surveyor - must be member of AIMS.
✅Surveyor - must be a member of the Institute of Surveyors in the state where you work.
✅Quantity Surveyor - must be a member of the Australian Institute of Quantity Surveyors.
✅Geologist or Geophysicist - Fellow of Australian Institute of Geo-scientists (FAIG).
Why use Mortgage Broker Revesby when applying for an Engineers home loan?
✅You may not be aware of the discounts and waived LMI available.
✅We know the lenders that want your business.
✅We make the process simple and do all the research and paperwork.
✅We do not charge a fee.
✅We know the lenders that want your business.
✅We make the process simple and do all the research and paperwork.
✅We do not charge a fee.
Matthew Stack
matthew@mortgagebrokerrevesby.com.au
www.mortgagebrokerrevesby.com.au
0423 237 242
matthew@mortgagebrokerrevesby.com.au
www.mortgagebrokerrevesby.com.au
0423 237 242
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