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What is LMI?
Lenders Mortgage Insurance (LMI) can help you accelerate your home ownership journey, and it can make it possible for you to get into your home sooner with a deposit as small as 5%.
Lenders Mortgage Insurance (LMI) provides protection to a lender to help you purchase a property with a smaller deposit. LMI protects your lender against the risk of potential losses, in case you are unable to make your home loan repayments, and the lender is unable to recover the outstanding loan amount from the sale of the security property.
This makes loans more accessible to people who are looking to buy a home with less than 20% deposit.
Flexible payment options to help you get into a home sooner.
Home buyers have a range of flexible options for paying the LMI cost to their lender. Further details regarding each of these payment options;
- Paying the fee upfront at settlement
- Adding the fee to the loan amount
- Paying the fee monthly during the loan term*
- Your extended family paying the LMI fee upfront, with a discount*
*These options may not be applicable for all lenders. Please check with your lender and mortgage broker if these options are available.
Home ownership made simple with LMI.
Start your home story. Better, sooner, brighter.
Discover how LMI made it possible for Jess and Anthony to buy a bigger, better home with less than a 20% deposit.
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Start your home story.
Better, sooner, brighter.
Explore how LMI helped a couple buy a bigger, better property.
What is LMI?
Understand the cost, who it protects and how it can help you purchase a home sooner.
Get home sooner
Struggling to save a 20% deposit? Enter the market sooner with LMI.
