Accountants are some of the most highly educated professionals in Australia, trusted by millions of households to manage their tax affairs. What many accountants do not know is that some home lenders may offer sharper rates, fee incentives and Lenders Mortgage Insurance (LMI) waivers for accounting professionals.
Read on to discover everything you need to know about taking advantage of these potential offers and how to apply for a home loan an accountant home loan.
Many home lenders consider accountants low risk applicants due to their high income potential and excellent job security in the industry. As a result, many lenders have industry specific offers for accountants which may include:
Lenders mortgage insurance is a premium paid to the lender which insures them in the event that a borrower defaults on their home loan. It is typically payable when an applicant wishes to borrow more than 80% of a property’s value. LMI is a non-refundable insurance, even if your loan drops under the 80% LVR soon after settlement.
The qualifying criteria and actual incentives and offers vary lender-to-lender and may include:
We are experts in these lender offers and the relevant qualifying criteria- save time and hassle and let us do the legwork for you!
If you’re an accountant looking to take your first step on to the property ladder, you may be able to access the market sooner with accountant specific lender options. If you meet the criteria, an LMI waiver and the resulting reduced deposit requirements can be a game changer. Check out our First Home Buyer page for more information specific to buying your first home.
If you have an existing home loan and are looking for a better rate, want to access some equity or consolidate other liabilities, many of these incentives are on offer for refinancing applications as well. Want more information? Head over to our Home Loan Refinancing page for all the information you need.
Accountants who are looking to build their dream home may also be able to access LMI waivers and great rate offers. Construction home loans are drawn down in stages called progress payments as the various stages of the build are completed. For more detail and the stages of home building, go to our Construction Home Loans page.
If you’re an accountant looking to invest in property or would like to access equity for the purpose of investing, the incentives available for accountants can potentially save you thousands in fees, LMI and interest over the lifetime of your investment property loan. For more specific information, head to our Investment Home Loan page.
As expert mortgage brokers, Simplifi Lending will manage your home loan application from start to finish. We’ve invested in technology, our expertise and networks that let us take the hassle out of the home loan application process. Use our secure client portal to provide your information, let us handle the research and present your home loan options.
We’ll make sure you have meet lender policy, have the highest possible chance of approval and get you an amazing deal in the process. Get in touch with us today to get things moving!
As part of your home loan application process, you will need to provide certain information and supporting documents to let us canvas your options and apply for your home loan. These include:
The exact requirement depend on your chosen home lender, but you will typically need to provide evidence of your employment as an accounting professionals. This may be payslips, an employer letter, a copy of your degree and/or confirmation of your CA or CPA registration.
Standard with any home loan application is a credit check which will be conducted by your chosen lender. They will review your credit enquiry history, existing credit facility conduct and check you have no court judgements or defaults noted on your file. If you have any specific concerns on your credit file, please let us know so we can proactively manage this.
While you may qualify for a lower deposit requirement as a result of meeting the criteria for an LMI waiver, there will likely still be a deposit requirement for your application. You will need to provide current statements to evidence this. If your contribution is coming from equity, we will organise a valuation on your property to validate this.
Simplifi Lending have helped hundreds of people get their home loan approved, including many accounting professionals from firms of all sizes. We’ll confirm which benefits or offers you are eligible for across the lenders on our panel and co-ordinate your application to incorporate them.
We also have access to a wide network of lenders, including banks, credit unions, and non-bank lenders. With these relationships, We are accredited with over 40 different home lenders to make sure we have as many options as possible for our clients to choose from. We’ll work out your capacity, figures and find the right lender for your unique circumstances while making sure you get a great deal on your home loan.able to compare home loan products from various sources and narrow down your options, taking away all the hard work and ensuring you’re left with options that are tailored to your needs as a teacher.
Take advantage of our suite of technology to make applying for your home loan and providing the require information a breeze. Our secure client portal is intuitive and easy to use and we offer our clients access to RPData and much more. We will handle all your application paperwork for you, saving you time and hassle.
Once your home loan is settled, we are your point of contact for anything to do with your home lending including:
Don’t sit on hold to your bank or lender, just give us a call!
As your mortgage brokers, we will conduct a detailed preliminary assessment to provide you with an accurate borrowing capacity and detailed figures for your transaction. How much you can borrow is generally dictated by your household income when compared against your ongoing expenses and other liabilities.
There is no one answer here, with different lenders have different criteria for applicants seeking a lenders mortgage insurance waiver. Some lenders will only offer this to partners, while some lenders have more broad criteria such as firm size or years in the role. To find out if you qualify, just get in touch with our expert mortgage brokers and we will look into it for you immediately.
Once again, the specific criteria varies depending on the lender and their risk appetite, but some lenders do include self-employed accountants in their offers. They will typically want to see CPA/CA certificates and evidence you are a practicing accountant.
