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Refinancing Your Loan Now that You're Outside of LMI Territory

As a doctor or medical professional, you've worked hard to establish your career, and your dedication has paid off. One of the significant milestones you've achieved is surpassing the Loan Mortgage Insurance (LMI) threshold. 

Now that you're outside of LMI territory, it's the perfect time to explore refinancing options that can save you money, improve your loan terms, and provide greater financial flexibility.

At Medimortgage, we specialise in assisting medical professionals like you in refinancing your home loan to take advantage of the benefits that come with being outside of LMI territory. Here's why refinancing with us is a smart move:

doctor refinacing loan

We Specialise in Assisting Medical Professionals in Refinancing Your Home Loan

1. No More Lenders Mortgage Insurance (LMI): LMI can add significant costs to your mortgage, especially if you borrowed more than 80% of the property's value when you initially purchased it. Now that you've built equity and your property's value has likely increased, refinancing can help eliminate the need for LMI altogether, saving you thousands of dollars.

2. Access to Lower Interest Rates: As a doctor or medical professional, you are considered a low-risk borrower due to your stable income and profession. This puts you in an advantageous position to negotiate for lower interest rates when refinancing your loan. By securing a lower rate, you can potentially save a considerable amount of money over the life of your loan.

3. Tailored Loan Options for Medical Professionals: Our experienced mortgage brokers understand the unique financial needs of medical professionals. We have access to a wide range of loan products designed specifically for doctors, which may include features like flexible repayment options, offset accounts, and lines of credit. By refinancing, you can customise your loan to suit your lifestyle and future goals.

4. Consolidating and Streamlining Your Finances: If you have multiple debts, such as credit cards, personal loans, or car loans, refinancing can provide an opportunity to consolidate them into your mortgage. This allows you to streamline your finances, simplify repayments, and potentially reduce your overall interest payments.

5. Access to Equity: Over time, the value of your property may have increased significantly. Refinancing allows you to access the equity you've built up, which can be used for various purposes such as renovations, investments, or funding further education. Our expert brokers will guide you through the process of unlocking your home equity responsibly.

We are Committed to Providing Personalised, Expert Advice to Achieve Your Refinancing Goals

At Medimortgage, we are committed to providing personalised, expert advice to doctors and medical professionals seeking to refinance their home loans. Our team understands the unique financial challenges you face and will work closely with you to find the best refinancing solution that aligns with your goals.

Take advantage of your hard-earned status outside of LMI territory and unlock the benefits that come with it. Contact us today to schedule a consultation and let us help you explore the refinancing options available to you. Trust Medimortgage to make your financial goals a reality.

Contact our mortgage team today on 0477 618 486 to find out more.

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