Accountants Home LoanAccountant Buying Home

Special types of home loans or mortgages are available to professionals who work within the accounting industry.  Applicants under this policy will be surprised to learn that they can save thousands of dollars on their mortgage. The team at Mortgage Providers have access to special policies and special pricings for people who work in the accounting profession.

Types of Accounting professionals eligible for Special Policy

The following professions are eligible for generous discounts under this policy:

  1. Accountants
  2. Finance Managers
  3. Auditors
  4. Actuaries
  5. CFO’s (Chief Financial Officers)

Types of policies available to Accounting professionals

If you work within the Accounting profession, then you may be eligible for any of the following special policies:

  1. NO Lenders Mortgage Insurance (LMI) up to 90% LVR
  2. Special pricing discounts for loan amounts greater than $250,000
  3. Reduced/discounted cost in LMI over 90% LVR
  4. Waive LMI up to 85% LVR

Savings by having the Lenders Mortgage Insurance waived

The Accounting practitioner’s policy allows for significant savings on the LMI. At Mortgage Providers, we know who will waive the LMI up to 90% LVR which will save you thousands of dollars. As a guide, if you were to buy a property for $950,000 at 90% LVR, then you will be looking at borrowing $855,000.  The cost of the LMI varies with different lenders as demonstrated below.

Lender Loan Amount LMI cost at 90% LVR
CBA $855,000 $21,360
ANZ $855,000 $21,901
Westpac $855,000 $23,298
ING $855,000 $19,045
NAB $855,000 $20,095

As mortgage experts with many years of experience and knowledge, we know what to do in order to assist you to qualify for an LMI waiver if you work as an accountant, CFO, Auditor, Actuary, or Finance Manager. The savings we will achieve on your behalf are substantial will help you save thousands of dollars in unnecessary LMI charges.

Pricing concessions for those in the Accounting industry

Being an accountant allows you to receive some significant interest rate savings with a special discount policy. The interest rate discount will apply to all loans if you are an accountant, auditor, actuary, CFO or finance manager. This pricing generally applies to loans over $250,000 and increases depending on the loan amount sought. As a rough guide see the below table:

$250,000 – $400,000 0.85%
$400,000 – $500,000 1.00%
$500,000 – $750,000 1.10%
$750,000 – $1,000,000 1.20%
$1,000,000 -$1,250,000 1.30%
$1,250,000  + 1.35% +

Qualifications or membership to receive Accountant’s special loan?

In order to receive special pricing and discounts under this policy, you will need to be registered to practice as a CA, CPA, CFA, or FIAA in Australia verified through evidence of the current association or professional body.

  1. Current membership of the Institute of Public Accountants (IPA)
  2. Membership of Chartered Financial Analyst Institute  Australia (CFA)
  3. CPA Australia (CPA)
  4. Chartered Accountants Australia & New Zealand (CAANZ)
  5. Fellowship of the Institute of Actuaries of Australia (FIAA)

Income Qualification for an Accountant Professional loan?

Accounting professionals in NSW, ACT, VIC and QLD will need to demonstrate income of at least $150,000p.a.  and $120,000p.a. for WA, SA, TAS & NT applicants.

If you are an Accounting professional, you will be pleased to know that you will be able to save tens of thousands of dollars when applying through Mortgage Providers. We can show you which lenders will waive the LMI costs, reduce the LMI costs, and give you a special interest rate for being part of the accounting industry. Call us today as we would love to show you how to save on your mortgage.