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uh, even if you DO get 95%, you'll need 10% cash if you're buying it as an IP. The total cost will be at least 105% of the purchase price. At that LVR, possibly more.

You don't have a choice about lenders mortgage insurance, especially if you're borrowing 100% of the purchase price. LMI for that sort of LVR is likely to push your total purchase costs above 5%. Insurance is a recurring expense, not one off. Building insurance if a house, though you wouldn't...