Borrow up to 90% without LMI for certain professions
Certain lenders acknowledge that some professions are lower risk than others and have the discretion to exempt borrower of the that profession from needing Lenders Mortgage Insurance (LMI).
Professions that carry these exceptions are:
To be eligible for you must generally satisfy the following criteria:
You must be borrowing no more than 90% of the property value
The borrower belonging to the profession must have a gross income of least $150,000 p.a. ( ACT, NSW, QLD or VIC) or $120,000 p.a. (NT, SA, TAS, WA)