HOME LOAN SOLUTIONS FOR LEGAL PROFESSIONALS AT FUNDI FINANCE

At Fundi Finance, we understand the unique financial needs and challenges faced by legal professionals when it comes to securing a home loan. From managing student debt to navigating fluctuating income, we're here to guide you through the process smoothly and efficiently so that you can get a home loan that suits your needs.

What is classified as a Legal professional?

We have options available for the following professions;

· Solicitor

· Lawyer

· Barrister

· Partner

Essentially if you hold a practicing certificate there will be some exclusive offers available to you.

Here's how we can help:

Competitive interest rates: We leverage our strong relationships with lenders to secure exclusive rates tailored to your profession.

Specialized loan options: Whether you're a junior associate, established barrister, or senior partner, we have loan options designed for your specific income profile and career stage.

Flexible loan structures: We understand your income may vary depending on your practice area, billable hours, and caseload. We offer flexible loan structures to accommodate your unique circumstances.

Fast and efficient processing: We understand your time is valuable. We'll work quickly and efficiently to minimize the time taken out of your busy schedule

Dedicated support: You'll have a dedicated mortgage broker by your side throughout the entire process, providing expert advice and personalized support.

Benefits for Legal Professionals:

Lenders Mortgage Insurance (LMI) assistance: Some lenders offer waived or discounted LMI for legal professionals, potentially saving you thousands of dollars. We'll help you find the best option for your situation.

Flexible repayment options: Choose a loan term and repayment structure that fits your budget and lifestyle.

Streamlined process: Focus on your legal career while we handle the mortgage details.

Although we are based in Eumundi in the Noosa region of the Sunshine Coast, we have the technology and expertise to assist legal professionals Australia wide secure loan options tailored to their unique requirements.

Contact

If you are a legal professional looking for help with a home loan, commercial loan or business finance. Reach out, i would love to help out!

brody.baker@fundifinance.com.au

0459 271 631

How much of a deposit will I need to have saved?

The amount of deposit you'll need for your mortgage depends on several factors, but as a general guide, aiming for a 20% deposit is ideal. This will unlock the best interest rates and avoid the cost of Lender's Mortgage Insurance (LMI). However, there are options available even with smaller deposits, so let's break it down: Minimum deposit requirements: Most lenders require a minimum deposit of 5% of the property purchase price. With a deposit less than 20%, you'll likely need LMI, which protects the lender if you default on your loan. This adds extra cost to your mortgage. Benefits of a larger deposit: Lower interest rates: The bigger your deposit, the smaller the loan amount, and typically, the lower the interest rate you'll qualify for. This can save you thousands of dollars over the life of your loan. Avoid LMI: With a 20% deposit or more, you generally avoid LMI, saving you money upfront and over the loan term. Alternative options with smaller deposits: First Home Guarantee Scheme (FHG): This government scheme allows eligible first home buyers to purchase a property with a deposit as low as 5% without LMI. Guarantor loans: With a guarantor who uses their equity as security, you might qualify for a lower deposit and potentially avoid LMI. Lenders Mortgage Insurance (LMI): While it adds cost, LMI can help you purchase a property with a deposit as low as 5%.
I love where I live, can I keep renting and buy an investment property as my first home?

Yes! This is a common strategy seen these days for those people living the city life but unable to afford to buy a property where they are living. You could continue renting in an area that you love while purchasing a property in an area you can afford and rent that property out.
Do I need a pre approval before buying a property?

Short answer is No. Although a pre approval can be a valuable tool for providing confidence that a lender has agreed to lend you the money you are after, it is not essential. If you are in a good position, spoken with a broker and they are confident you could get what you are after you could potentially look to purchase without one. I would always recommend that you include a finance clause in your offer to protect you and to allow you enough time to gain finance approval.
I've been banking with my bank forever, will they look after me?

No - they look at everyone as if its the first time they have met them. This is something I see very often. People who have been banking with a certain bank for years believe because of this they will get special treatment with that bank. Unfortunately that is not how it works, almost all of the banks have separate loan departments which look at your situation as if they have never met you before. They go through the whole application process and calculate your borrowing power based on your income, expenses and individual situation.
Is it hard to buy your first home?

Like anything you do for the first time, buying your first home can be very daunting. There is always going to be parts of the journey that are stressful and hard, but If you surround yourself with the right team, they can help take the stress out of the whole process and make it as easy as possible for you. If you would like some help, a mortgage broker can be your most valuable tool to help you put a plan in place to buy your first home.
Do I need to save a 20% Deposit?

We've all heard the ramblings of "you need a 20% deposit to even start looking for a property" This is a common misconception. There are so many different options available now to purchase your first home with a small deposit and in some cases even no deposit. If you'd like to talk with a mortgage broker on if you'd be able to get a home loan please reach out
Where do I start?

This home buying guide is a great place to start, If you have read through this it tells me that you are serious about getting into a place of your own. For your next step, I would recommend booking in to talk with your local mortgage broker. They will be able to tell you where your borrowing power is at the moment and run you through what options you have available to you. We would love to help you put a plan in place - Contact us
How do I buy a house with no deposit?

While this option is not available to everyone, there is a way to purchase a property with no deposit saved. If you have parents that own a property and have equity available (they could still have a home loan) and are willing to let you use that property as collateral to purchase your property. You can then secure 20% of your new properties value + other fees and charges against your parents property while securing the other 80% against the new property that you are looking to purchase. There are risks for all parties involved in this scenario. If you would like more information if a guarantor loan would be suitable for you, please reach out to your local mortgage broker.