First-Home Buyer Listing #2
If you’re buying under $1 million with a 20% deposit, you can avoid paying Lenders Mortgage Insurance (LMI).
On a $900,000 purchase, a 20% deposit - including stamp duty and buffers - typically requires savings of around $238,000.
This leaves you with an 80% loan of approximately $720,000, reducing overall borrowing costs and improving loan options.
About author
Shehan Wijayasinghe
Accounting
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