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What is LMI?
Lenders Mortgage Insurance (LMI) can help you accelerate your home ownership journey, and it can make it possible for you to get into your home sooner without having to save a 20% deposit.
Lenders Mortgage Insurance (LMI) provides protection to a lender to help you purchase a property with a smaller deposit. LMI protects your lender against the risk of potential losses, in case you are unable to make your home loan repayments, and the lender is unable to recover the outstanding loan amount from the sale of the security property.
This makes loans more accessible to people who are looking to buy a home with less than 20% deposit.
Home buyers have a range of flexible options for paying the LMI cost to their lender – either paying the fee upfront, capitalising the amount into their loan, or paying a monthly LMI fee.
- We make it easier and faster for home buyers to own property.
- We reduce financial risk for lenders.
- We stand behind lenders and brokers with flexible solutions.
- We empower our partners to reach new heights.
- We accelerate financial wellbeing through home ownership, now and for the future.
![]() LMI FactsheetWhatever your home ownership goals, we’re here to help you. LMI enables home buyers to buy a home or investment property without having to save a 20% deposit. Build financial wellbeing and security today and for the future. |
![]() What is LMI? videoHome ownership. Watch our short video to help you understand what LMI is, what it costs, who it protects and how it can help you purchase a home with less than a 20% deposit. |
![]() Get home sooner videoAchieve your dream of home ownership sooner. Are you struggling to save a 20% deposit? LMI can help you to break the rental cycle and purchase a home with as little as a 5% deposit of the purchase price. |