What is LMI? animation | Genworth LMI

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Lenders Mortgage Insurance (LMI) is one way of getting into homeownership without having the 20% deposit which is typically required by most banks and financial institutions.

With Lenders Mortgage Insurance, lenders may allow you to borrow a higher proportion of the purchase price, allowing you to purchase a property with a smaller deposit than would otherwise be required. It may also enable you to borrow at an interest rate that is comparable to a borrower who has a larger deposit.

Play this short video to find out more

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