What is Lenders Mortgage Insurance

November 27, 2013
Mandy Dickerson

Lenders Mortgage Insurance (LMI) usually applies to loans with a loan to value ratio (LVR) of greater than 80%.

LMI allows you to borrow up to 95% of the purchase price with a lower deposit than traditionally required.

It is insurance for the Lender not the Borrower but it is paid for by the Borrower!

LMI is a once only payment and can usually be added to the loan amount.

Posted in: Home loans

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