What is Lender’s Mortgage Insurance

Whilst the deposit % used to trigger LMI differs from lender to lender, the average figure in the Australian market is around 20% (eg. having a deposit of less than 20% of the loan value would trigger LMI having to be paid by the borrower).

LMI helps thousands of people each year to purchase a home who otherwise may not have satisfied individual lender criteria. Lenders usually provide borrowers with the option of either paying their LMI upfront or alternatively by adding it onto their loan amount (which is sometimes referred to as 'capitalising' the fee).

Thankfully, loans.com.au Lenders Mortgage Insurance is some of the best value in the industry, just like our loans.

 

Recommended reading

10 Steps to Buying Your First Home

Buying a first home is one of the biggest financial decisions of anyone’s life and also one of the most daunting.

VIEW ARTICLE

Does Paying Your Mortgage Fortnightly Save Money?

Choose whether to make repayments on a weekly, fortnightly, or monthly basis.Find out how to save some money on your home loan repayments.

VIEW ARTICLE

Top 5 Strategies to Save For A House

To help you get started with your saving journey, here are the top five saving tips you can use so you can finally buy your first home.

VIEW ARTICLE
 
Call us on
13 10 90
or
Request A Call
7am - 7pm, Monday to Friday. AEST