Burrow up to 90% of your property's value and pay no LMI. A $1.2 million property creates an LMI amount of around $25,000, so paying no LMI can save you thousands.
Most lenders do not distinguish between the different types of engineers. All members of the industry can apply for and recieve specialised home loans for engineers alongside other discounts and offers.
For some professions within the industry, lenders may have additional criteria you will need to meet in order to be eligible for their specialised loans. This usually required proof that you have a membership of a recognised association in your industry:
|Your profession||Your required membership/s|
|Mining engineer||A current member of Engineers Australia|
|Surveyor||A current member of the Institution of Surveyors in the state where ou work or the Surveying and Spatial Siences Institute of Australia|
|Mine surveyor||A current member of the Australian Institute of Mine Surveyors (AIMS)|
|Quantity surveyor||A current member of the Australian Institute of Quantity Surveyors|
|Geologist and Geophysicist||A current fellow of the Australian Institute of Geoscientists (FAIG)|
Remember, different lenders require different document in order to approve your application. You may not required to be a member of these associations to be approved by some lenders, so it's important to research the specific requriements of the lender your're appllying to before you submit your appliction.
If you are finding the process of gathering documentation and determining your eligibility difficult, we've created a checklist to help you apply for home loans for engineers.
If your're finding the process of applying for a home loan overwhelming and time-comsuming, we can help you get in touch with a broker, who can support you with your home loan application for free.
We know as an engineer your occupation can be demanding and time-consuming. Whether you're a first home buyer, looking to refinance or interested in investing, you may feel like applying for a home laon is too overwhelming to handle on your own.
|Research and Compare home loans across 30+ banks and lenders to find you the best possible deal for your current situation.||Provide you with personalised advice relevant to your situation to help you make a confident and informed decision about your home loan.||Assist you in developing and submitting your application to save you the hassle of researching and filling out complex paperwork.|
Best of all, brokers provide these services free of charge. That's right, for free. Once you've secured our home loan, we're reimbursed by the lender you apply to for providing them with a dedicated customer who's ready to buy.
Brokers can save you time, money and heartache. All it takes is the touch of a button.
As a busy engineer, you want information and support that is relevant and readily available. Whether your're an engineer who's a first home buyer, looking to refiannce or wanting to invest, we have specific information ready for you to discover.
Sometimes, it's easier to speak to someone to directly about your home loan. Get in touch with one of our brokers for personalised advice at no cost to you.
We are so happy to have been able to work with Sam at Benevolence Financial Group on bringing our home ownership dreams to life. As first home buyers we had no idea what we were doing and whether we were even in any kind of position to purchase. Sam explained everything and patiently answered our many questions, talking us through every step of the process.
Highly recommended. Sam and his team are a highly professional group who helped us with a refinance. They were attentive, proactive, and knowledgeable in their service as they guided us through the transition.
Sam from the BFG looked after myself and my Fiance when we got our first home purchase. Sam was very down to earth, professional and really went above and beyond to help us every step of the way. He helped us, offered us support and made sure we get through things very smoothly. he answered all our questions and was always available to chat, was very proactive and always had the answers.