If you are a professional and have graduated from university, you may be eligible for specific home loan perks, especially if banks or lenders aren’t getting a lot of business. Banks and other lenders want to approve loans for individuals who are working in low-risk professions. These professions generally have low turnover rates, have a steady income, and can keep up with the loan repayments. As such, they may waive Lender’s Mortgage Insurance premiums or offer discounts on interest rates to these select professionals.
Are you eligible?
Professions eligible for certain loan perks are:- Doctors, vets and other medical professionals
- Accountants and other finance professionals
- Lawyers and other legal professionals
- Professional athletes
- Celebrities and other entertainment professionals
- Surveyors, geologists and other mining engineers
- Other high-income professions, such as:
- CEOs and other executives
- Architects
- Advertisers
- Business owners
- Other individuals making over $200,000
- Low-risk occupations, such as:
- Nurses
- Teachers
- Scientists
- Federal and state government employees
- Borrowers with high net worth, such as:
- Investors, both foreign and property
- Business owners
- Family groups