If you’re eager to buy property but don’t have a large cash deposit, then calculating the lenders’ mortgage insurance (LMI) you’ll be charged on your home loan can help you decide whether it’s worth it to go ahead – or save a bit longer towards a larger deposit. A smaller deposit typically means a higher […]
Lenders mortgage insurance (LMI) is one of the most unappealing costs of homeownership. It’s frustrating to consider that if you don’t have enough to cover a 20% deposit, you’re potentially required to pay additional for LMI. This ensures that the lenders are covered in the event you default on your loan. If this sounds like […]
Although most property owners know they can achieve an LMI waiver by paying a 20% deposit upfront, many don’t know that there are various other ways to qualify for a waiver. For example, if you work for a particular profession and/or earn above a minimum amount, you can access the LMI waiver for professionals. Or, […]
Medical professionals interested in buying a home or investment property should specifically look into doctor home loans. These specialist loans for doctors include significant benefits and discounted rates that aren’t available with standard home loans. So, not only can they save you money but they can put you on the road to homeownership much sooner […]
Certain groups of buyers in Australia can access the LMI waiver for professionals.