Changes to lender policy means that more types of medicos on 457 visas can borrow up to 90% of the property value without Lenders Mortgage Insurance
The changes mean that more 457 visa medicos (doctors, vets, chiropractors, physiotherapists, medical specialists, dentists and optometrists) will be able to enter the property market earlier while saving the expense of lenders mortgage insurance on borrowing up to 90% of the property value. The Lenders mortgage insurance waiver is a distinct advantage for medicos as lenders mortgage insurance can amount to thousands of dollars.
The deal also gives a boost to regional areas as this is where many of the medicos (doctors, vets, chiropractors, physiotherapists, medical specialists, dentists and optometrists) who are on 457 visas are based.
Are you a medico on a 457 visa?
Find out more or contact us about the a medico home loan for 457 visa holders:
On a 457 visa but not a medico?
457 visa holders can get home loans from Australian lenders however, if you are not a medico you will need to pay lenders mortgage insurance when you are borrowing more than 80% of the property value. Find out more about home loans for 457 visa holders here:
Oak Laurel Mortgage Brokers – Home loans made easy!