Hi Chris,
Thanks for the advice. A mortgage broker I spoke to suggested removing LMI on an existing loan which I purchased at 90% by switching banks and refinancing to 80%. The loan amount is 305k and needs around 10-15k to get down to 80%
Is this worthwhile - losing LMI to have the added flexibility?
Why did they suggest this? What benefit do you have in giving up $10k in funds and refinancing?