Home Loans for Dentists

Applying for a home loan or refinancing as a dentist is a smooth process when you have expert guidance. Here’s a breakdown of how to apply for a home loan or refinance:

Step 1: Consultation

Start with a consultation with our highly experienced brokers. We’ll assess your financial situation, review your credit history, and determine your eligibility for exclusive home loan or refinancing benefits. Whether you are purchasing a home or refinancing, we’ll tailor the consultation to your goals.

Step 2: Submit Documents

We’ll guide you in submitting the required documentation. For employed dentists, this includes payslips and potentially employment contracts. If you’re self-employed, you’ll need to submit both personal and business tax returns, financial reports, and more.

For refinancing, you’ll also need to provide details of your current loan, including your lender and loan balance.

Step 3: Loan Application Review

Once we submit your documents, the lender will review your application, looking at your financial position, income, credit history, and overall debt levels. At this stage of the process, we would have presented your application in a way that is easy for the lender to understand.

Step 4: Get Pre-Approval

Once your loan application is assessed, you’ll receive pre-approval for your home loan or refinancing. This pre-approval will provide an indication of how much you can borrow or what your new terms will look like.

Step 5: Final Loan Approval & Settlement

Once final loan approval is granted. Settlement occurs when the funds are transferred to purchase your home or, in the case of refinancing, when your existing lender is paid off and your new mortgage is set in place.

We specialise in helping dentists navigate the home loan and refinancing process. We get tough and challenging home loans approved for dentists. Here’s why you should choose us:

1. Access to Exclusive Dentist Deals

We help dentists access the best deals that include LMI waivers, discounted interest rates, and flexible loan terms. We work with multiple lenders to find the most favourable loan conditions for your needs.

2. Wide Range of Lenders

We have access to a broad network of lenders. This means we can compare options for you and secure the best possible deal, whether you’re purchasing a home or refinancing.

3. Streamlined Process

We make the home loan or refinancing process as straightforward as possible. From gathering documents to final approval, we ensure everything is handled efficiently, allowing you to focus on your practice. By working with a broker that specialises in helping dentists, it means you can rest assured that we fully understand how to maximise the amount of income we can use for serviceability calculations, and therefore boost your borrowing capacity.   

Not all dentists automatically qualify for no Lenders Mortgage Insurance (LMI), but most can if they meet certain criteria. Lender’s policies tend to change from time to time, so it’s always best to check with a mortgage broker who specialises in dentist home loans for specific eligibility.

The amount you can borrow depends on factors like your income, credit history, and the property value. Dentists generally have higher borrowing capacity due to their stable income and high earning potential. Typically, you’ll be able to borrow up to 95% of the property’s value without needing to pay LMI.

A few select Australian banks and lenders offer home loans specifically tailored for dentists, with benefits such as no LMI and discounted interest rates. Some lenders specialise in professions like dentistry, and a mortgage broker can help you compare options and find the best deal for you.

You’ll generally need to provide proof of income (e.g., payslips, bank statements), a valid ID, and details of your current financial situation (such as debts and assets). If you’re self-employed, additional documents such as business tax returns and financial statements will be required. Our team will guide you through all the specific requirements.

Yes, part-time or locum dentists can often access the same benefits, such as LMI waivers and discounted interest rates, provided they have a stable and sufficient income. Lenders will look at your income history and contract terms to assess eligibility.