Find Out If You Qualify for a LMI Waiver and Say Goodbye to Lenders Mortgage Insurance Australian homebuyers often face the high cost of Lenders Mortgage Insurance (LMI). This happens when borrowing over 80% of a property’s value and it can be thousands or even tens of thousands of dollars. But you can save big…
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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