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The purchase price was 250,000 I paid 10k as a depsoit to hold the land.

Loan details are as follows Loan Structuring: Base Loan Split - $232,509 Loan Split 1 - $239,000 (inclusive of $6,491 of LMI) Product/ Package Name: MAV $350k - $499k (>90% LVR) Interest Rate: 5.30% - Lending Discount Applicable is: 0.6% Loan Type: Variable...

Thanks Rolf Just few more questions. I am banking with CBA are they one of the lenders that can capitalize the lmi cost to the loan for vacant land? Will they capitalize the lmi costs for construction as well? And from you experience the lmi costs is still tax deductible over the years...

Hi All , I just settled about a week ago on a block of land and was having a look at the settlement sheet and saw lmi was charged as a lump sump straight out on settlement. I would of rather preferred that lmi payment to be on added to the loan. I am assuming my broker didn't arrange that lmi...