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    LMI - what would you do in this scenario

    Citibank still does this? Had a quick look at their website but can't really find anything.
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    LMI - what would you do in this scenario

    I see your point. Thanks Devank.
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    LMI - what would you do in this scenario

    Sorry, I'm missing the point here Devank. What is 320 that you have used? Scenario 1 existing property 400K valued. 280K owing on it. So, you are saying, keep that 80% => Gives me 40K. new purchase 420K (400k + 20K purchasing costs). 90% LVR = 353K (minus 7K LMI). Short fall =>...
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    LMI - what would you do in this scenario

    Thanks Brady. Yep, the LVR 80% was a mistake. No LMI on current properties.
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    LMI - what would you do in this scenario

    Ops, made a big mistake; new purchase, 400K @ 80% LVR is 320K (not 360K). So, yep, 85% on both looks good (Thanks Aaron). 2. 85% LVR = 56K (roughly about 4K LMI) new purchase 400K @ 85% = 340K Shortfall = 80K. Which means I may have to use some of my savings.
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    LMI - what would you do in this scenario

    Hi all, I have a property valued at 400K. Owe 280K. Planning to draw equity out. 1. 80% LVR = 40K 2. 85% LVR = 56K (roughly about 4K LMI) 3. 90% LVR = 73K (roughly about 7K LMI) NOTE : LMI will be added to the loan. What option would you choose if it's taking equity out...
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