Home Loans for Occupational Therapists

Brampton Finance helps occupational therapists compare home loans for a first purchase, moving, refinancing or investing. We review your deposit or equity and the way you earn your income, whether you work for a hospital, an allied health provider or your own OT practice.

Can occupational therapists qualify for an LMI waiver?

Eligible occupational therapists may qualify for a lender’s LMI waiver at up to 90% LVR, with minimum annual income of $90,000. Other conditions apply.

We check your professional qualifications, accepted income and property eligibility against the current policy. A waiver does not guarantee approval or a better interest rate. You still need funds for the deposit and applicable purchase costs. Our professional home loan guide explains how LMI benefits fit into the wider loan comparison.

Hospital and allied health employment

For an employed OT, recent payslips and an employment contract help establish base salary, hours and any regular allowances. Lenders can treat overtime, salary packaging and additional shifts differently, so we review the components rather than rely only on your total pay.

Part-time or fixed-term work needs a policy review, particularly if a contract is ending or you have recently changed employers. Tell us about planned changes to hours or parental leave so the proposed repayments reflect your household budget.

Contracting, community work and private practice

Working across community services, schools and private clients can produce several income streams. We distinguish PAYG wages from contracting receipts and identify which business or individual receives the payments.

For a sole trader or practice owner, the lender may review tax returns, financial statements and supporting records. Billings before expenses are different from the income available to repay a home loan. Business debt, vehicle costs, tax commitments and the timing of client payments may also be relevant.

If you have recently moved into private practice, provide the commencement date and the records available so far. A lender must decide whether that history is sufficient. Read our self-employed home loan guide for more about documentation.

Set a purchase budget before committing

We review the proposed purchase price, deposit, buying costs, existing debts and preferred repayments. If you are purchasing a unit, a lender may also have requirements for the building, floor area and location. Conditional approval still depends on the property and final assessment.

Our first home buyer guide covers the starting steps. For an investment property, we also review rental income and your other lending commitments.

Refinancing an existing OT home loan

A professional policy may be relevant when refinancing, but any LMI benefit should be compared with the new rate, fees, valuation and discharge costs. We discuss offset accounts, fixed or variable rates and whether a changed term would alter your total interest cost.

See our refinancing service for the broader comparison. Finance for a clinic purchase or fit-out is a separate requirement; our business finance team can review that purpose.

Discuss your occupational therapist home loan

Have your employment or practice details, qualifications, income evidence, deposit or equity and intended loan amount ready. We will explain the documents required and the lender options worth considering. Approval and any LMI waiver remain subject to current policy and credit assessment.

Contact Brampton Finance or call 02 9389 1077. Explore related guides for physiotherapists and speech pathologists.