 The Commonwealth Bank is now offering a discounted professional loan package to an extensive list of medical professionals. The Medical Professional Offer extends a LMI/LDP waiver on loans with maximum LVR’s of less than 90%. These loans are subject to credit approval. This means that instead of requiring 20% deposit to avoid LMI fees, you only need 10% plus costs (less any FHOG bonus's!) To be eligible for the Medical Professional Offer customers must be members of one of the selected medical associations and be employed in one of the defined medical professions. A concise list of eligible associations and professions is provided below. To be considered for the discounted professional package customers must meet these eligibility criteria. The offer is available through a Mortgage Advantage Package (MAV) and is available on a range of products including standard variable rate loans, fixed rate loans, line of credit, 12 month discounted rate and 1 year guaranteed rate loans. To qualify the loan must be principal and interest, interest only loans do not qualify. The maximum loan value is $2 million and low doc loans are excluded from the offer. Potential customers will need to provide evidence by way of membership with one of the eligible associations. Details of employment in one of the chosen medical professions will also need to be provided when applying. All applications are subject to credit approval. An example of the savings are $8,290, where the home loan is $450,000 and the purchase price is $500,000, with one of our major bank lender used as an example Approval is subject to Commonwealth Bank terms and conditions. Contact us today for further information on the CBA Medical Professional Offer and to find out if you qualify.
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