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Thanks guys. I crunched some numbers from an online mortgage insurance calculator in a spreadsheet and it does work out better (slightly) to draw to 90% and then keep the LVR as low as possible on the subsequent loans. The advantage of drawing to 90% on the first loan is that since the draw...

Hi folks, Going about the process of drawing down my existing loan on a property worth $480k with a loan balance of $250k, and I've been quoted LMI of $800 to draw to 80% and $7300 for 90% (this is a lender that charges LMI even to 80%). The one month penalty interest etc is probably too...