Professional Package Home Loanshappy lady with pro pack home loan

Professional Mortgage Package loans (Pro Pack) came about in the late 1980’s. Initially, these Professional Package Loans were introduced by major banks to customers who were part of a professional association like doctors, engineers, accountants and solicitors. After 1999, some lenders began to offer Pro Pack Loans to customers based on their overall total borrowings.

What is a professional package loan?

A Professional Package is a normal type of home loan mortgage. They are sometimes called or referred to as Pro Pack or discounted loans.

Nevertheless, a Professional Package usually comes with a discount applied to the loan. The discount is generally applied to the standard variable rate home loan. If you ever notice lenders offering a discount in some of their advertisements? This is usually the discount which makes your loan a Professional Package Home Loan.

What type of interest rate can I get on a professional package loan today?

Today you are able to get interest rates below 4% for many loans with Mortgage Providers. These loan amounts can be as low as $150,000 to qualify for this type of rate.

Types of professions required for Pro Pack Home Loan

In previous years one must have belonged to a specific work profession to be eligible for a pro pack home loan. Today, this is no longer the case. In today’s market, you can be eligible for a professional package loan with different lenders regardless of whether you were a lawyer or a laborer. Today a Pro Pack is generally loan size specific. Hence it is your total loan amount which makes you eligible for a Pro Pack Home Loan.

However there are still some lenders who require you to be a member of certain professions in order to apply for a significant discount to your loan.

What types of discounts are applied to a Professional Package Home Loan?

The discounts applied to a Professional Package home loan differ between lenders. Hence we have created a table below as a guide to assist you with the best discounts that can be applied for a particular loan range.

Loan amount Discount applicable
Up to $150,000 0.70%
$150,001 – $250,000 0.85%
$250,001 – $500,000 1.00%
$500,001 – $1m 1.10%
$1m + 1.30%


Fee discounts with professional package home loans

In addition to offering discounts on rates, Professional Package home loans offer discounts on fees with many being waived or replaced by a single fee. The fee discounts could vary from lender to lender and it is possible to get a Professional Package loan with a combination of discounts applied to the interest rate, as well as having fees waived or reduced.

Loan products available with Professional Package Loans

With a Professional Package Home Loan, you could get any type of loan product. Hence you can get a Professional Package discount with any of the following types of loans:

Low doc home loan with a professional package?

It is possible to get a low doc loan with a Professional Package. Some lenders price these types of loans the same as a normal full doc loan. There are other lenders who offer a small discount compared to a normal full doc loan. It’s best to speak to one of our Mortgage Providers consultants to be guided to the best lender who can suite your low doc loan needs.

At Mortgage Providers, our staff have extensive experience putting together Professional Package Mortgages tailored to suite a client’s needs and expectations. We can guide you to the right lender who offers the best discount on the most suitable loan product whilst waiving any fees applicable.