Geologists are considered for waived LMI loans. Please note that they must be a member of the Fellowship of the Australian Institute of Geoscientists (FAIG).
Lenders usually consider a loan to be risky if the loan to value ratio (LVR) is higher than 80% of the property value. However, select professionals may be getting their Lenders Mortgage Insurance (LMI) waived even when they are borrowing up to 90% LVR.
Some of the lenders that we work with may offer you LMI waivers if you meet the following criteria:
- You earn more than $150,000 annually.
- You are not borrowing more than 90% of the property value.
- You should be a member of an accepted industry association.
- You have to meet all standard lending criteria.
Our specialist mortgage brokers can be reached on 1300 889 743 or simply fill in our online assessment form.
Cheers,