Specialised home loans for our registered nurses, qualified paramedics, and police officers with essential services package.

Helping those who help us: The Importance of specialised home loans supporting our registered nurses, qualified paramedics, and police officers.

In our society, essential service workers like registered nurses, paramedics, and police officers play a critical role in keeping everything running smoothly. It seems like every day they are fighting for recognition, support, and fair remuneration—things you would assume they wouldn’t need to fight for. These everyday heroes dedicate their lives to serving the community. At FinancePath, we believe in giving back to those who give so much to us. That’s why we are excited to offer them the Essential Services Package for home loans.

The benefits of this package have often been reserved for doctors, lawyers, and accountants, but we believe our essential services workers deserve a fair go as well.

What do the benefits of the home loan package mean to me?

No Lenders Mortgage Insurance (LMI) is usually reserved for the top end of town. Registered nurses, paramedics, and police officers can now benefit from having this fee waived due to the very nature of their jobs. On a $500,000 loan, this could save you an initial cost of up to $10,000 plus all the accrued interest this would cost over the life of the loan.

To understand the savings better, consider a $10,000 LMI fee at an interest rate of 6% over 30 years. The interest on this amount would add significant costs. Let’s break it down:

• LMI Cost: $10,000
• Interest Rate: 6%
• Loan Term: 30 years

So, over 30 years, the interest on the $10,000 LMI fee at 6% would be approximately $47,434.90.

This means you could save nearly $57,434.90 in total by not having to pay the LMI and its associated interest.

Key benefits of home loan essential services package

1. No Lenders Mortgage Insurance (LMI) for up to 90% Loan to Value Ratio (LVR): To avoid paying Lenders Mortgage Insurance (LMI), you generally need to have a 20% deposit, which gives you a Loan to Value Ratio (LVR) of 80%. With this package, you can borrow up to 90% LVR and we'll waive the LMI fee, making it easier and more affordable to get into your new home.
    
2. Lower Interest Rates: This package offers competitive interest rates that are typically lower than standard rates. Even if you're borrowing over 80% LVR, you'll be given a discounted interest rate for your home or investment loan. The maximum borrowed amount is 90% LVR. This helps reduce monthly mortgage payments, making homeownership more manageable on a fixed income.
    
3. Flexible Repayment Options: Understanding the demands of essential service roles, we provide flexible repayment options to accommodate varying schedules and financial circumstances. This includes options for weekly, fortnightly, or monthly payments.
    
4. Reduced Fees: To ease the financial burden, our package includes reduced or waived fees for application, processing, and ongoing account maintenance. This means more savings for you.
    
5. Personalised Support: Our team of dedicated mortgage brokers understands the unique needs of essential service workers. We offer personalised advice and comprehensive money management plans tailored to your specific situation.
    

Why choose FinancePath?

At FinancePath, we recognise the hard work and dedication of registered nurses, paramedics, and police officers. Our Essential Services Package is more than just a financial product; it’s a commitment to supporting the people who support our communities. We strive to make the home loan process as smooth and beneficial as possible, ensuring you receive the best care and attention.

How to get started

Supporting those who help us is not just a tagline; it’s a philosophy we live by at FinancePath. The Essential Services Package is a testament to our commitment to essential workers. We are here to help you achieve your dream of homeownership while providing the financial support and flexibility you need.

If you’re a registered nurse, a fully qualified paramedic, or a sworn-in state or federal police officer looking to buy a home, contact us today to learn more about the Essential Services Package.

Our friendly team is here to answer any questions and guide you through the application process.

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