Home Loans For Police

Which home loan incentives are available to police officers?

• Lender's mortgage insurance waiver if you need to borrow more than 80% of the property value (up to 85%).
• Special lender policies to increase your borrowing power, whereby all allowances and overtime can be utilised when calculating your borrowing power (as opposed to 50% - 80% for regular occupations).
• Upcoming federal government shared equity scheme where the federal government will fund (and co-own) 30-40% of your home, so you’ll only buy 60%-70% of the property, and the government will cover the rest and you save on mortgage insurance. You only need a 2% deposit.
• Cashback up to $3,000.
• First Home Guarantee provided by the federal government if you have at least 5% deposit saved. This will waive lender's mortgage insurance, but your loan will be guaranteed by the government.
• Upcoming state government shared equity scheme where the NSW government will fund (and co-own) 30-40% of your home, so you’ll only buy 60%-70% of the property and the government will buy the rest. That saves you mortgage insurance and increases your budget. You only need a 2% deposit.
• Exemption or concession from paying government stamp duty, or the option to pay land tax instead.
• $10,000 grant if you buy or build a new home.

The above perks are subject to credit/regulatory approval, which I can assess for you whenever you’re ready. It won’t affect your credit history, and I can let you know things like borrowing power and lender options. This applies to New South Wales. Please contact me if you are in a different state/territory.