Skip the LMI And Save Big!
If you borrow more than 80% of a property’s value, most lenders charge Lenders Mortgage Insurance (LMI). This is a one-off fee that protects the lender, not you.
For a $1 million property at 90% LVR, LMI could cost $15,000 or more. However, some lenders offer waived LMI options for eligible borrowers.That means you could buy with just 5% or 10% deposit and pay no LMI at all.
Instead of paying LMI, you can keep that money for:
- Moving costs
- Furnishing your new home
- Renovations or improvements
- Extra financial buffer after settlement.
Who May Qualify For Waived LMI?
Eligibility for Waived LMI depends on your profession, income, and overall application. But it’s not limited to doctors or specialists anymore.
You could qualify if you:
- Have strong employment and income.
- Are in a high-demand industry.
- Have a clean credit history.
- Are buying a residential home.
50+ lenders for you to choose from
Our brokers will compare thousands of home loans to find you the best fit.
Find Better Home Loan Rates
Latest home loan interest rates
Starting from
%*
p.a.
Comparison rate
%*
p.a.
Disclaimer: Your actual rate may vary according to your preferred lender and mortgage situation/needs. Talk to our experts for a personalised quote.
Discuss Rate With An ExpertDon’t believe us, hear from our customers
They had a good understanding of different banks and their offering to doctors (e.g., 90% or 95% LVR without LMI, contractor requirements, etc.) They were able to negotiate a very competitive loan, which was complicated by factors such as maternity leave. Would highly recommend!
The whole team has been fantastic to work with throughout the entire process. Nothing was too much trouble for them and they did everything they could to find the best mortgage deals for us. Great follow-ups, accountability and clarifying of information. Will definitely use this team again and would highly recommend HLE to anyone.
My family and I would like to thank Home Loan Experts for assisting us in securing a home loan and realising our dream of purchasing our first home in Melbourne. They are very professional and gave sound advice throughout the journey. Thank you to the broker and their team.
4.9 out of 2,000++ reviews
4.8 out of 430++ reviews
4.8 out of 1000++ reviews
Award-Winning Expertise At Your Service
Customised Home Loan Solutions For Your Situation
See Your Waived LMI Options In 3 Simple Steps
-
Enquire with us.
Complete our short assessment form or call +61 2 9194 1700 to get started
-
Tell us your situation.
A mortgage expert will review your deposit, income, and borrowing capacity to check if you qualify.
-
Get Your dream home.
If eligible, we’ll connect you with lenders offering waived LMI home loan options so you can move forward with confidence.