Did you know your job title could help you qualify for a better home loan?
Some lenders offer exclusive benefits to certain professionals — and it’s not just about your income. If you’re in a career that’s considered low-risk or stable, you might unlock better rates, higher borrowing capacity, or even avoid costly fees like Lenders Mortgage Insurance (LMI).
Why Do Lenders Favour Certain Professions?
Lenders assess risk. If your profession has steady income, high employability, and a track record of low default rates, you may be seen as a “preferred borrower.” This often applies to professionals like:
- Doctors and medical specialists
- Paramedics, police officers & fire fighters
- Allied health professionals
- Lawyers and solicitors
- Accountants
- Engineers
- Dentists and pharmacists
- Veterinarians
- Commercial
- Teachers
Benefits You Might Be Eligible For
Here’s how your job might work in your favour:
1. Waived LMI up to 90% LVR
Some lenders will waive LMI for eligible professionals borrowing up to 95% of a property’s value — potentially saving you thousands.
2. Higher Borrowing Power
Certain lenders will assess your application more favourably, allowing you to borrow more than standard applicants — especially if your profession has reliable income projections.
3. Discounted Interest Rates
Specialised loan packages may include lower interest rates or reduced fees exclusive to your industry group.
Do You Need to Be a High Earner?
Not always. The key is the type of profession, not just the income. For example, a junior doctor or graduate lawyer might still qualify for benefits based on future earning potential and career stability.
How to Find Out What You Qualify For
Not all lenders advertise these professional perks openly. As a mortgage broker, I can compare your options across the market and match you with lenders who recognise your profession. This could mean a faster path to home ownership with less upfront cost.
If you’re a working professional, don’t leave money on the table. The right lender could reward you simply for the career you’ve built.
