As a CA, you may be eligible for special home loan benefits and exemptions.

With many people facing the escalating cost of living, obtaining a home loan is becoming increasingly complex. One of the main barriers to owning a home is the challenge of saving the initial deposit required, with rising expenses making it tougher for aspiring homeowners to enter or advance in the housing market. However, there is a bright side for CAs, as there are exclusive benefits and exemptions available to them in the Australian mortgage market. 

What is this home loan consideration?

Simply put, CAs are considered low risk by some lenders. This is because they typically have a higher level of job security than most other industries. As a result, they have a historically low rate of loan delinquencies as a cohort. 

What are the benefits available?

Most notably, the ability to buy with a 10% deposit without having to pay Lenders Mortgage Insurance (LMI), which significantly decreases the burden of upfront saving. There are also options available for some to borrow up to 100% with select lenders under certain circumstances. The favourable credit policies can also maximise borrowing capacity for those eligible.

What is LMI?

LMI is a one-off insurance fee that’s added on to your home loan if you borrow more than 80% of the property value. The purpose of LMI is to protect the lender from financial loss if the borrower can’t afford to meet their home loan repayments and can be extremely expensive. For example, using a 10% deposit for a A$1,000,000 property purchase would incur LMI upwards of A$20,000.

These policies are applicable for both owner-occupied and investment properties, so it’s beneficial regardless of where you are on the property ladder.

What difference does it make if I choose a mortgage broker vs a bank?

Policies vary from lender to lender and only select lenders offer these benefits. Even the lenders that do offer these benefits do not necessarily train their branch staff in specific niches, so it can be frustrating to access them directly. To ensure you get the best possible result for your finance situation, speaking to a specialist broker can make a big difference.

How do I get started?

Accounting Home Loans is honoured to be a partner of the CA ANZ Member Benefits Program for all your home and finance lending requirements. To discuss your needs, speak to our industry experts at Accounting Home Loans today. 

Plus, eligible Australian CA ANZ members may receive an exclusive A$500 cash rebate on loan settlement.*

Get in touch with Accounting Home Loans

Call: (02) 9127 5557 

Email: [email protected]

For more information, go to: accountinghomeloans.com.au/caanzpartnership