LMI

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What is lenders mortgage insurance – an insurance premium you pay that can and most commonly added to the loan.
Generally 2-4% of the loan amount.

Premium changes per lender and depends on the security (like a normal insurance policy)

Waivers for industry professionals – accountants etc and some lenders offer no lenders mortgage insurance up to 85% for FHO however, these offerings come and go

Ways to avoid LMI – gifts family pledge (covered in next video)

LMI isn’t that bad, remember the price of procrastination.