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Subas  J

Mar 04, 2017

Subas  J

Mar 04, 2017

Mar 04, 2017

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Dim

2 years ago

It will depend on the LVR. If you can get a valuation to stack up enough where the LVR is sub 80%, then LMI won't apply. Let me know if you would like me to check it out for you.

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gregory

2 years ago

You will pay LMIU when the total amount of your debt exceeds 80 or 80% of the total value of your property. 80%or 85% depending on the lender.

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Jimmy

2 years ago

You should avoid to pay LMI by keeping your LVR below the bank's redline because if you pay LMI, your fund cost will be very high.

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Michael

2 years ago

Hi Subas, thank you for getting in touch. LMI is only payable if the refinance or purchase exceeds 80% of the property value. In saying that there is a couple of lenders which don't charge LMI even up to 85%. Furthermore, depending on your profession there are lenders who offer lending at 90% LVR without having to pay lenders mortgage insurance. Please navigate to my page and we can chat over the phone when it suits. Cheers Michael (FNQ Lending Solutions)

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Guido

2 years ago

Hi Subas Thank you for your question LMI lender mortgage insurance is only payable if you borrow more than 80% of your properties value. Saying, so some lender going up to 85% before LMI is payable I hope this answer helps All the best

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Kathy

2 years ago

Hi Subas, There are many factors to consider when refinancing. Usually if borrowing over 80% of the house value you will incur loan mortgage insurance. If you are wanting to use the same lender and it is over 80% of the house value most lenders would normally have you pay LMI on the difference. Without specifics it is very hard to advise properly. Give us a call if you are wanting to know more. Have a great day. Kathy

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Karl

2 years ago

Hi Subas... most lenders will charge LMI when the loan amount exceeds 80% of valuation (some have special offers from time to time where they waive it). Having said this some lenders will not need to complete a full internal inspection and they may rely on a desktop estimate valuation based on comparable sales, which can be favourable. I'd be happy to look at this for you.

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Caroline

2 years ago

Hello. Depending on your situation, you may not require LMI up to 85% LVR. Please contact me if you would like a free assessment.

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AMRIK

2 years ago

Hello subash, I have lenders where you don't need to pay LMI upto 85% LVR. please let me if you need any help thanks

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Eddy

2 years ago

You don't have to pay LMI if your LVR is under 80%. Give me a call and I can have it check for you. Very quick process.

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