Understanding the First Home Guarantee: A Simplified Guide for 2024 The First Home Guarantee is an Australian government scheme designed to help first home buyers enter the property market with as little as a 5% deposit. Avoiding the need to pay LMI, the scheme offers significant savings and quicker access to homeownership. Whether you’re a…
Table of Contents Find Out If You Qualify for a LMI Waiver and Say Goodbye to Lenders Mortgage Insurance What is Lenders Mortgage Insurance (LMI) and who does it protect? What is an LMI Waiver and Who Can Benefit from It? Understanding the Concept of an LMI Waiver and how much it can save you…
How Do I Avoid Paying Lenders Mortgage Insurance? It’s not uncommon for people wanting to buy a home, but don’t have ‘enough’ of a deposit saved. Strictly speaking, nothing is stopping you from getting a loan with less than a 20% deposit. Unfortunately, you have to pay something called LMI – Lender’s Mortgage Insurance which…
Choosing the Right Lender to Get the Right Valuation: How The Valuer Determines If Your Loan Is Approved (And What We Can Do About It) Most times Mortgage World Australia puts a loan application in for a client, the lender will carry out some sort of valuation on the property. When a client is refinancing…
Understanding Lender’s Mortgage Insurance Policies As a rule, if you don’t have a 20% deposit in savings, then your bank will ask you to pay Lender’s Mortgage Insurance (LMI) when you buy a home. This is why so many of us need to dutifully save up our 20% deposit to buy our first home. If…
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