How to avoid paying LMI
How to avoid paying LMI Lender’s Mortgage Insurance (LMI) is typically required when your loan amount exceeds 80% of the property’s purchase price or valuation, especially during refinancing. Lenders view loans with a Loan-to-Value Ratio (LVR) above 80% as higher risk, triggering the need for LMI. However, there are strategies to avoid this costly premium.…