lmi ...

[Paterson00]

Is there an accurate way of working out your lmi

 

[D.T.]

Not really. It's a sliding scale, getting more expensive the higher the LVR %. The different providers also charge different amounts. Different states of Aus also cost different amounts.

Work on about ~2% though for rough numbers.

 

[S.T]

You can work it out roughly using Gemworths online LMI calculator

http://www.genworth.com.au/borrower-centre/homebuyer-tools/lmi-premium-estimator

 

[Redom]

C Stewart put up a brilliant spreadsheet of LMI calcs by LVR and loan amount recently. Search previous LMI threads.

Cheers,
Redom

 

[Peter_Tersteeg]

Keep in mind that LMI rates can change from one lender to another. We try to be pessimistic in our quotes.

 

[Rolf Latham]

Keep in mind that LMI rates can change from one lender to another. We try to be pessimistic in our quotes.

and by month to month as they sneak in another loading................. is your application paperwork on recycled paper ? No, then pls add a 10 % loading for Climate change risk

ta
rolf

 

[Truly Exotic]

and by month to month as they sneak in another loading................. is your application paperwork on recycled paper ? No, then pls add a 10 % loading for Climate change risk

ta
rolf

or

Do you have the cash to buy the home out right?
If No, add 10%, if yes, see No

Can you spell LMI?

If No, add 10%, yes, add 10%