Waived LMI (Lenders Mortgage Insurance)
LMI is usually required when borrowers have a deposit of less than 20%, but certain professionals and loan types qualify for waived LMI. Mass Financial helps eligible applicants—including medical professionals, accountants, and lawyers—secure LMI waivers, saving thousands in upfront costs. Our team identifies the best lenders offering LMI-free loans to maximize affordability.
Waived LMI: Save Thousands on Your Home Loan
Lenders Mortgage Insurance (LMI) is typically required when a borrower has a deposit of less than 20% of the property’s value. However, with a Waived LMI loan, eligible borrowers can secure a home loan without paying LMI, potentially saving tens of thousands of dollars.
Key Features of Waived LMI Loans
✅ No LMI Cost – Save thousands by avoiding the one-time LMI premium.
✅ Lower Deposit Requirements – Secure a home loan with as little as 5–15% deposit while still avoiding LMI.
✅ Available for Eligible Professionals – Many lenders offer LMI waivers to doctors, accountants, lawyers, engineers, and other professionals.
✅ Higher Loan-to-Value Ratio (LVR) – Borrow up to 90–95% of the property value without paying LMI.
✅ Faster Homeownership – Enter the market sooner without waiting to save a full 20% deposit.
Who Qualifies for Waived LMI?
✅ Professionals in high-income, stable careers (e.g., doctors, accountants, lawyers, engineers)
✅ First-home buyers under special government schemes
✅ Borrowers with strong financial profiles and high credit scores
✅ Certain industry-backed professionals and business owners
At Mass Financial, we specialize in helping borrowers secure home loans without LMI costs, ensuring you maximize your savings and enter the property market sooner. Contact us to see if you qualify for an LMI waiver today!