Who Can Qualify?
You don’t need a 20% deposit to avoid LMI. You may qualify for an LMI waiver if:
- You’re getting help from a guarantor to buy your home.
- You’re in a high-demand profession, such as:
- Doctors, Dentists, Pharmacists
- Accountants, Actuaries, Auditors
- Lawyers, Barristers
- Engineers, IT Professionals
- Professional Athletes & Entertainment Industry Professionals
Not sure if you qualify? Our expert brokers will assess your eligibility and connect you with the right lender.
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LMI Waiver With Government Schemes
First-home buyers who qualify for the First Home Guarantee or Regional First Home Buyer Guarantee can secure a home loan with as little as a 5% deposit and pay no LMI, saving thousands in fees.
Who’s Eligible?
- Australian citizen or permanent resident aged 18 or older
- Income Limits:
- Single: $125,000 or less per year
- Joint applicants: $200,000 or less (combined) per year
- Joint applicants can be a spouse, de facto partner, sibling, friend, or family member.
- First-home buyer or a previous homeowner who hasn’t owned real property in the last 10 years.
- Owner-occupied properties only – you must move in within six months.
- Property price caps apply (varies by state).
Want to see if you qualify?
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Why Work With Us?
- We know the lenders that waive LMI – and we match you with the right deal.
- We can reserve your spot in the Government Guarantee Schemes – Limited places available!
- Fast-tracked approval process – so you can get into your home sooner.
- 100% free assessment – no commitment, no pressure.
Don’t pay thousands in LMI when you might not have to!
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While searching for my questions online, home loan experts popped up all the time with the proper answers. I thought at that point they must know entire process well so I provided my info for them to contact with me. Preeti has contacted, clarified our case, got the document and make us ready for a pre- approval in 10 days !!!
As a first home buyer, I got a complete guidance from my broker Steve. There were lots of questions and confusion from my side but Steve was very patient to answer my questions and solved all my queries which helped me to buy my first home. Really happy with the service and the time he gave us.
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A dedicated mortgage specialist will review your situation, determine whether you qualify for LMI waivers, and contact you.
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