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5360 GEN LMI Proposal Form Aust Layout 1

5360 GEN LMI Proposal Form Aust Layout 1

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paying for the banks insurance is not an expense that you want when preparing to buy a home here's how to avoid paying thousands of dollars for no reason at all [Music] welcome back to my channel my name is Rhys in today's video we are talking about lenders mortgage insurance or better known as LM I'm paying lenders mortgage insurance can get you into a home sooner but it's important to understand how it works its benefits pitfalls and how it's calculated lenders mortgage insurance is designed to protect the lender with the levers ability to pass the risk on to the insurance company there will now be more incentivized to offer you more money to borrow or allow you to borrow an amount of money with a smaller deposit ultimately reducing the size of the deposit required allowing you the buyer to get into your first home or do a second home or whatever home you buying sooner LMAO is nine upfront payment it's not like stamp duty it can be added to the total of the loan that you're intending

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