First home
Junior doctors whose earnings haven’t yet enabled them to save for a house deposit, may receive up to 95% loan-to-value-ratio (LVR) + no lenders mortgage insurance (LMI) home loans* with the help of Avant Finance.
Reduce your deposit
Avant Finance helps doctors purchase a home with a low deposit without paying lenders mortgage insurance (LMI)*. For example, if you were purchasing a $700,000 property, most banks would require a 20% deposit ($140,000 in savings) to avoid LMI. However, with the assistance of Avant Finance, doctors could purchase the same property with a 5% deposit ($35,000) and avoid LMI*. A smaller deposit provides junior doctors with the opportunity to get on the property ladder sooner.
When you are ready to start looking at properties, speak with an Avant Finance specialist.
Utilise your overtime pay
Most banks ‘shade’ overtime and on-call time, which simply means they discount the amount of this type of income when calculating the ability to service a loan. These extra hours can make up a good portion of some doctors’ overall income. This can often limit a doctor’s borrowing potential and the value of the assets they can secure funding for.
Doctors can maximise their borrowing capacity by using lenders who will consider 100% of their income.
An Avant Finance specialist can help determine your borrowing capacity and support you through the entire purchase process.
Make an informed decision
Like with all decisions, gaining as much insight and knowledge as possible is the key to making the right choice. Avant Finance specialists have a wealth of knowledge regarding home purchases and the loan application process.
They will assist you with:
• The buying process
• Borrowing capacity and pre-approval
• Property reports inclusive of the estimated sale value
• Government grants
See how much you could save by paying extra repayments or having a lower interest rate.
Avant property reports
Avant Finance has partnered with CoreLogic to provide complimentary residential property reports that contain data used by banks when determining#;
• A property’s estimated sale value
• The suburb’s growth trends
• Indicative rental yield
• Comparable properties on the market
• School catchment zones
When I originally was looking to purchase our first home, I had so much difficulty getting a loan. We had been to so many banks, that I felt like I was scouting everywhere. Then I met Jesse – within one month, he had it all sorted out.
"The amount you can borrow, also known as your borrowing capacity or borrowing power, is based on your unique financial circumstances. Your income, assets, liabilities and credit history can all affect your borrowing power.
Avant Finance specialists are well-versed in doctor’s unique earnings, complex financial structures and other circumstances that make financing through many banks challenging. They have access to products and lending partners that specialise in lending to doctors.
This is very much dependent on which bank you decide on. You should be able to get an indication of borrowing capacity within a few days.
This is a one-off payment that varies by state or territory to assist eligible first home owners with purchase or construction costs. You can speak with a finance specialist to find out if you are eligible.
State government transfer duty is around 3-6% of a property’s selling price. Each state or territory has different rules and calculations. Some offer discounts or exemptions to first home buyers.
No, Avant property reports are free of charge. To obtain a property report, simply provide your details on the relevant form and then you will be emailed the requested information.
No, you can request as many property reports as required.
The authors behind the property reports are CoreLogic. They are Australia’s leading provider of the very latest, accurate and powerful property insights and analytics.
Submit an enquiry
Disclaimers
*All applications for credit are subject to our eligibility and credit approval criteria. Terms, conditions, fees and charges apply. Contact us for further details.
#Digital property profile reports (Property Reports) are produced by RP Data Pty Ltd trading as CoreLogic Asia Pacific (CoreLogic). Avant is not responsible for and does not make any representations as to the content in the Property Reports (including whether any information is accurate, complete and not misleading). The Property Reports are provided to you on a non-reliance basis and CoreLogic also does not make any representations to you as to the content of the Property Report. Neither Avant nor CoreLogic is liable for any loss, damage or injury suffered (even if caused by negligence) as a result of using or relying on any such Property Report.
