Introduction:

Dr Samantha Lee is a chiropractor with several years of experience in the industry. She had always dreamed of owning her own home but was struggling to secure a mortgage due to her 5% deposit. Despite approaching several banks, they had all turned her down due to their strict lending criteria. This is when she decided to approach First Aid Finance.

The Challenge:

Dr Lee approached First Aid Finance with the challenge of securing a mortgage with a 5% deposit. She had been struggling to find a lender who would be willing to provide her with a mortgage due to the low deposit. This was further compounded by the fact that she was an allied health professional, and many lenders did not recognise her profession as being outside the traditional medical specialist policy.

The Solution:

First Aid Finance listened to Dr Lee’s situation and realised that she was an ideal candidate for a specialist lender’s low-deposit home loan designed exclusively for allied health professionals. They explained to her that the lender’s product was designed to help doctors like her who had a low deposit and were in a stable profession. They offered Dr Lee a low-deposit home loan which enabled her to purchase her first home.

First Aid Finance also informed Dr Lee that as an allied health professional, she was eligible for a waiver of Loan Mortgage Insurance (LMI). LMI is a type of insurance that is typically required when a borrower has a low deposit, and it can add significant costs to the loan. However, because of Dr Lee’s profession, First Aid Finance was able to find a lender that waived LMI for her, which further reduced the costs associated with her home loan.

Results:

Thanks to First Aid Finance, Dr Lee was able to purchase her first home. She was overjoyed and grateful for the help and support she received from the team at First Aid Finance. She was also pleased with how smooth and quick the entire process was.

The fact that LMI was waived was also a significant benefit for Dr Lee, and it helped her save even more money on her home loan. This was a significant relief for Dr Lee, who was struggling with the costs associated with buying her first home.

Conclusion:

Dr Samantha Lee’s case is an excellent example of how First Aid Finance can help allied health professionals with a low deposit achieve their dream of owning their own homes. The team at First Aid Finance worked closely with Dr Lee to provide her with a tailored solution that met her needs and helped her overcome the challenges she faced. Thanks to First Aid Finance, Dr Lee was not only able to purchase her first home, but she also received an LMI waiver. This was a significant benefit for Dr Lee and helped her save even more money on her home loan. If you are an allied health professional in a similar situation and are struggling to find a lender who will provide you with a mortgage, it is worth considering First Aid Finance to assist in finding a solution. We have the expertise and experience to provide you with the best possible solution for your needs.