How Doctors Can Get 95% Home Loans WITHOUT Mortgage Insurance | Ep. 06
Join 26,000+ doctors and dentists in the 'Investing for Doctors' Facebook group: https://facebook.com/groups/investingfordoctors
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In this episode, join me, Dr Bi Mian, together with Elouise Dooley and Alissa Childs, mortgage brokers and directors of Two Birds One Loan, a team that goes beyond traditional mortgage broking to help clients achieve their goals through personalised financial solutions.
We talk about why the cheapest interest rate isn't always the best option when choosing a lender, how medical professionals can access exclusive lending benefits with up to 95% LVR without paying mortgage insurance, and the unexpected truth about what makes a "vanilla" loan application.
We also discuss the clever strategy of using parental guarantees to potentially borrow up to 105% of a property's value, why cross-collateralisation could help you secure better interest rates, and the hidden traps of family gifts in property purchases that every borrower needs to know.
If you want to learn how to maximise your borrowing potential and access special financial privileges available to healthcare professionals, then make sure to listen to this episode!
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TIME STAMPS:
0:00 - Introduction
1:18 - Elouise & Alissa’s Background
03:14 - Overview of the Home Loan Market in Australia
03:38 - Choosing the Right Loan
06:28 - The Idea of a ‘Vanilla Loan’
08:32 - Having Access to a Wide Range of Products and Lenders
09:33 - Discussing Home Loans: How Much to Borrow and What Type of Property
12:50 - Understanding the Key Terms in Home Financing
14:38 - Discount Ranges
18:29 - What Is LMI?
28:15 - Explaining Serviceability and Its Meaning in Financial Terms
31:24 - Buffers Earned from Investment Properties
36:40 - Credit Card Assessment, Lending Cost and Interest
44:11 - Conclusion
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SHOW NOTES LINKS
https://ifdgroup.com.au/
https://doctorbi.com.au/
https://au.linkedin.com/in/mian-bi
https://www.twobirdsoneloan.com.au/
https://www.linkedin.com/in/elouisehaynes/
https://au.linkedin.com/in/alissa-childs-8816777a
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LISTEN TO THE PODCAST
Spotify: https://open.spotify.com/show/07DS5AxlbgmkuvP6zQGgtN
Apple Podcasts: https://podcasts.apple.com/au/podcast/investing-for-doctors-podcast/id1775535608
Amazon Music: https://music.amazon.com/podcasts/b9de46bc-e29d-4402-9e9e-959a3a5dc8da/investing-for-doctors-podcast
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FIND US HERE
Website: https://ifdgroup.com.au/
Facebook Group: https://www.facebook.com/groups/investingfordoctors
Facebook Page: https://www.facebook.com/investingfordoctors
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DISCLAIMER
The information provided in this podcast is for general purposes only and should not be considered p
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