Hi James, to avoid LMI, you must have 20% equity to offer most lenders. There is a lender that doesn't require LMI however the interest rates offered on there home loans is much higher than most regular lenders. just remember that equity can be in a form of cash deposit or a guarantors property offered as a 2nd security to support the new loan, this must be a parents guarantee ONLY. there are other creative options that may apply to you, but i need to find out more information to determine if you qualify. happy to assist further if you contact me direct.
Hi James There are few factors that decide whether you will be eligible for Mortgage Insurance free loan such as Your profession, Loan to property ratio, and the quality of documents of your loan( Lo doc etc) Please do contact any of HashChing Broker or myself for more information Dev
Hi James, whether you pay mortgage insurance will depend on many different factors. Would be great to have a chat to understand your circumstances and go from there. If you check my profile you can get in contact with me from there would love to help, Jess
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LEZLI
Hi James, Yes I can - as long as you have 15% deposit. I have one lender who allows 85% with no LMI. If you are interested, please feel free to contact me via my Profile page. kind regards. Lezli