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…
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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