LMI = Lenders Mortgage Insurance. It’s a premium you pay, but it protects the lender — not you. It’s usually required when you’re borrowing more than 80% of the property value (so a smaller deposit = higher risk to the bank). Not always a bad thing though: Sometimes paying LMI can help you buy sooner instead of waiting years to save a 20% deposit. If you want, message me your purchase price deposit and I’ll tell you if LMI is likely and how to reduce or avoid it. #mortgagebroker #firsthomebuyer

My Mortgage Brokers can help you avoid paying Lender’s Mortgage Insurance by securing you a spot in the First Home Guarantee! Link in my Profile for my Mortgage Brokers to organise your application NOW, for FREE, so you don’t miss out on a spot! 🏡 *not financial advice* #fyp #finance #saving #mortgage #personalfinance #learnontiktok #realestate #education #student #uni #genz #rentfree #millennial #budget #savingmoney #robboaussiemortgageguy #trustedfinance Mortgage rates mortgage tips mortgage