From: Danny Dwyer
Can anyone explain to me "in layman terms", how do to work out LMI calculations? Is there a set formula that one to use as an estimate of the LMI that will be required when the LVR is over 80%? Does this amount depend on various insurance companies? Who are these companies? Jan S. indicated in her new book that the Mortgage Insurance can be up to 2%.
Danny D.
Can anyone explain to me "in layman terms", how do to work out LMI calculations? Is there a set formula that one to use as an estimate of the LMI that will be required when the LVR is over 80%? Does this amount depend on various insurance companies? Who are these companies? Jan S. indicated in her new book that the Mortgage Insurance can be up to 2%.
Danny D.
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