Buying your next home

Discover the Essentials of Buying Your Next Home

Buying your next home can be an exciting yet challenging endeavour, especially for dentists who often have unique financial situations. At Home Loans for Dentists, we understand these intricacies and are here to support you through every step. Our expertise in home finance and mortgage broking allows us to offer tailored home loan options from banks and lenders across Australia. With our help, you can access a variety of loan packages, interest rate discounts, and investment loan options that suit your needs.

When considering buying your next home, understanding the various financial aspects is crucial. One of the significant factors to consider is the interest rate. Whether you prefer a fixed or variable interest rate, each option has its benefits. A fixed interest rate provides stability with consistent payments, while a variable interest rate can offer flexibility with potential savings when market rates decrease. Additionally, exploring lenders mortgage insurance (LMI) and the loan to value ratio (LVR) can help you better understand your borrowing capacity and manage your financial situation effectively.

Another important aspect of buying your next home is the application process. Applying for a home loan involves several steps, including gathering necessary documents like bank statements and understanding your borrowing capacity. Our streamlined application process ensures that you can smoothly apply for a home loan, whether you're buying your first home or your next one. We also offer support for first-time home buyers through various programs and schemes, such as the first home owner grants (FHOG) and first-time home buyer schemes, which can provide financial assistance and benefits.

For those considering an investment property as part of buying your next home, we offer guidance on investment loan applications. Understanding the property market is essential when making such decisions. Our access to banks and lenders nationwide allows us to provide comprehensive insights into current trends and opportunities. Whether you're looking to buy your first investment property or expand your portfolio, we can help you explore different investment loan options tailored to your goals.

Stamp duty is another key factor to consider when buying a home. This tax can significantly impact the overall cost of purchasing property. However, various exemptions and concessions may be available depending on your circumstances. Our team can help you navigate these options and potentially reduce the financial burden associated with stamp duty.

Once you've decided on buying your next home, getting pre-approved for a home loan can give you a competitive edge in the property market. Pre-approval provides an estimate of how much you can borrow, enabling you to confidently make offers on properties within your budget. Furthermore, considering features like an offset account can help reduce the interest payable on your loan by offsetting the balance against your mortgage.

Buying your next home is a significant milestone that requires careful planning and informed decision-making. At Home Loans for Dentists, we are committed to providing the support and resources you need to make this process as smooth as possible. Whether you're applying for a home loan, exploring investment options, or seeking interest rate discounts, our team is here to guide you every step of the way. Contact us today to learn more about how we can assist you in buying your next home with confidence.

Streamlined Lending Process for Buying Your Next Home

Initial Appointment

Begin by having a chat with one of our qualified Finance & Mortgage Brokers. We will take the time to understand your situation, including special policies specific to Dentists & other Dental Professionals. We will also discuss loan options from banks and lenders across Australia, guiding you through the next steps of the application process.

Fact-Finding

We will collaborate with you to gain a comprehensive understanding of your financial situation, including your financials, assets, and credit history. This helps determine your borrowing capacity. We will review your bank statements and other relevant documents to provide accurate advice.

Pre-Approval

Once you receive pre-approval, you can confidently begin bidding or making offers on properties you wish to purchase. We will explain the loan amount, interest rates (both variable and fixed), and potential interest rate discounts. We also discuss the importance of the loan to value ratio (LVR) and any lenders mortgage insurance (LMI) that may be required.

Loan Settlement

Upon settling on the property, your Loan will be drawn down, and you will be all set to move forward. We will help you navigate the settlement process. We will also assist in calculating loan repayments and managing your loan interest rate to suit your needs.

Reviews for Home Loans for Dentists

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Jared Ridler

Big thanks to Carl for your help through the process! Made it all a breeze with clear quick communication and got us into our new home!

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Ingrid Rollero

Carl and the team are very quick and efficient. Have been them for a few years and happy to recommend to anyone!

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Elizabeth Bottomley

Carl Elsass was a wonderful help to my husband and I as we bought our first property. Carl was very responsive, knowledgeable and guided us through the process with great care and attention to detail. We would highly recommend using Azura ...

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Kirsten Turco

Nick gave us a friendly service & was extremely helpful. Highly recommended!

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claudia alvarez

I was extremely pleased by the service provided from Carl Elsass. He was very helpful and very clear by explaining every aspect of the mortgage process. From start to finish, He attended to all the documents required as well as arranging a suitable loan within a very short period with my minimum involvement. Thank you! Claudia Marcela

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Harry

Working with Nick to purchase our first home was a seamless experience. His knowledge of the market was exceptional and was quick to respond to all our questions. I wouldn’t hesitate to recommend his services. Thanks Nick!

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Javier Gómez

Carl was really helpful and patient, took its time to understand my situations and provided great advice and options in order for me to make the right decision.

GA

Glen Ashley

Carl has been amazing to work with. He was on the ball straight from the start with knowing all the information I would need to provide. He was quick to respond while others would not return communication for weeks. He managed to secure me a great product in a short amount of time, even while we are on opposite sides of the country. I highly recommend getting in touch with Carl, you won't look back.

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katya campi

Nick and team were great, made the process seamless.

Frequently Asked Questions

What kind of interest rates can you offer?

We take look at a wide range of products available from Banks, Credit Unions & other lenders across the country. This means we can search thousands of products and make sure we're always recommending the best Home Loans for our clients.

What's the maximum I can borrow as a dentist?

This depends on your income, expenses, and deposit, but dentists can often borrow 5-6 times their annual income due to strong earning potential. We'll calculate your exact borrowing capacity based on your specific circumstances.

Can you help arrange finance for both my family home and a property for my dental practice?

Too easy! We can arrange dual-purpose financing for dental professionals. This might involve purchasing a property where you live upstairs and practice downstairs, or separate but coordinated purchases. We understand the zoning, commercial lending, and tax implications involved and work with lenders experienced in medical/dental property financing.

What documents do I need as a dentist?

For employed dentists: recent payslips, employment contract, bank statements (3-6 months), and ID. If you have HECS debt, include your latest notice of assessment.
For practice owners: two years of tax returns, business activity statements, profit and loss statements, and business bank statements.
For locum dentists: contracts with regular practices, bank statements showing consistent deposits, and booking confirmations.
We'll guide you through exactly what's needed for your specific situation and help present your application in the strongest way possible.

What deposit do I need as a dentist, and can I avoid Lenders Mortgage Insurance?

Many of our dental clients secure loans with 10-15% deposits. Some lenders offer LMI waivers for medical and dental professionals, recognising your profession's low default risk. We've arranged loans with deposits as low as 5% for established dentists with strong income history.

Do you charge me any fees?

No, our service is completely free for most home loans. We're paid a commission by the lender once your loan settles, so there's no cost to you for our expertise and guidance. On the rare occasion there might be a fee for specialised services, we'll always discuss this with you beforehand - complete transparency, no hidden costs.

Are your mortgage brokers licensed and accredited?

All of our Mortgage Brokers are accredited and members of the Mortgage and Finance Association of Australia. They are extremely professional and provide exceptional service across a range of lending options.

Why should I use Home Loans for Dentists instead of going directly to a bank?

Banks can only offer their own products, but we access hundreds of loans from 40 lenders to find your best deal. More importantly, we understand dental professionals - from HECS debt and associate income to practice purchases. Bank staff rarely have this specialised knowledge.
We do all the legwork, comparing products and handling paperwork while you focus on your patients. Instead of visiting multiple banks, you get one expert broker who knows the dental industry inside out.

I work across multiple practices - will this complicate my loan application?

Not with the right lender. Many successful dentists work as associates at 2-3 practices or combine associate work with their own practice. We specialise in presenting multi-income dental applications clearly, using employment contracts and income history to demonstrate stability across your various roles.

How do you assess loan applications for dentists with HECS-HELP debt?

We work with lenders who specifically understand dental education debt. Unlike general lenders who may see your $150,000 HECS debt as a liability, our partner lenders recognise this as professional investment debt with government-backed repayment terms. We know which lenders exclude HECS from debt-service calculations or apply more favourable assessment rates.