Mortgages for entertainment professionals

Written By Rachel Hopping

Historically, professional entertainment professionals have found it difficult to get a home loan due to the nature of the industry they operate within, with fixed term contracts and irregular income. Now, many lenders have developed specific policies for entertainment professionals.

Eligibility Requirements

  • You must currently have a role within the TV, film, theatre, fashion or music industry (this can be as an actor, musician, writer, photography etc)

  • You must have been working in the industry for a minimum of two years

  • Have a manager, an agent or an accountant that are accredited

  • Minimum annual income requirement is $150,000

What home loan offers are available for entertainment professionals?

Often when you borrow more than 80% of a property’s value, you will be required to pay Lender’s Mortgage Insurance. This is where offers for entertainment professionals come in:

  • Borrow up to 90% of the value of the property without needing to pay Lender’s Mortgage Insurance

  • Borrow up to 95% of the value of the property and get a discount on LMI

  • Discounts on your interest rate

  • Longer interest only terms (up to 15 years)

See below for how much you could save by not having to pay Lender’s Mortgage Insurance on a loan with a 10% deposit and 90% loan-to-value ratio:

  • $500,000 Property: $8,680

  • $1,000,000 Property: $22,392

  • $1,500,000 Property: $36,858

  • $2,000,000 Property: $49,144

What documents will I need to provide?

  • Your current contract

  • Your last 2 year’s tax returns and if applicable, your most recent payslips; this will give the banks evidence of consistent, regular income

  • Some banks may consider income earned overseas, dependent on the country and nature of the income

  • The longer your work history and consistent income is, the more likely the bank will approve your loan

How do I access a home loan offer for entertainment professionals?

Our role at Unbroke is to assess your needs and situation, help you compare all of the loans you’re eligible for as an entertainment professional, including cashback offers, finding the lowest interest rate and loan features. Our services are free to use, we simply receive a commission from the bank once your loan is settled. 

Contact us via our website, email or social media to book in a call to discuss your options to purchase a property or refinance your home loan.

Do any other roles or industries qualify for these offers?

Roles in other industries may also be eligible for an LMI waiver. These include:

  • Accountants and actuaries

  • Lawyers and conveyancers

  • Doctors and surgeons

  • Nurses and midwives

  • Veterinarians

  • Professional athletes

  • Dentists

  • Engineers

  • Financial planners

  • Mining specialists

This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.  Information in this article is up to date as of 10 January 2023.

Rachel Hopping
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