Are Nurses Or Midwives Eligible For A Medico Home Loan?

Medico home loans are available to eligible medical professionals where an eligible applicant may be able to borrow up to 90% and not pay a mortgage insurance fee.

If you are a registered nurse or midwife, than some banks will consider that you are eligible for a medico home loan, and you maybe able to borrow up to 90% of the property value if you are buying a new home or refinancing your current home loan.

Medico home loans are available for both owner occupied or investment properties.

There is minimum income limits if you are a registered nurse or midwife. The minimum income is $90,000 per annum. The minimum income doesn’t necessarily mean your base salary, as a lot of nurses and midwives work penalty shifts and extra hours and these can be averaged to determine whether your income meets the minimum requirement for a medico home loan.

Generally speaking you would need to be a registered nurse or midwife and have membership to a professional body like APHRA. 

If you have any questions at all, please contact Perth Mortgage Broker Group, or call Troy on 0411 229 602, 7 days a week