10% deposit first home buyer LMI waiver which bank?

Question: 10% deposit first home buyer LMI waiver which bank?

Answer: A 10 percent deposit with an LMI waiver can be possible in some first home buyer scenarios, but there is no single bank answer that applies to everyone. The available options depend on current lender policy, government scheme availability, property limits and the borrower profile.

Some pathways are linked to first home buyer schemes, while others are lender or profession specific. A lender may look at the occupation, income, savings history, credit conduct, property type, location and loan amount before deciding whether a waiver or reduced-LMI option is available.

It is also important to compare the full loan, not just the waiver. A loan that avoids LMI may still need to be checked against interest rate, fees, offset features, approval conditions, turnaround times and long-term flexibility.

A broker can compare which lenders are currently worth considering and whether the total structure makes sense before an application is lodged. This is general information only and lender criteria can change. For guidance tailored to your situation, speak with TwoFold Lending on 1300 100 019 or book an appointment.

Important: This answer is general information only and does not consider your objectives, financial situation or needs.