LMI Waivers
Access LMI Waivers on your home loan and keep more of your money working for you
Rated 5 from 45 Reviews
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Access LMI Waivers on your home loan and keep more of your money working for you
Rated 5 from 45 Reviews
When applying for a home loan with a deposit under 20%, most borrowers are charged Lenders Mortgage Insurance (LMI) - a one-off premium that can add thousands of dollars to the cost of purchasing property. Importantly, this insurance protects the lender, not you. What many Australian borrowers don't realise is that LMI waivers are available through select lenders, potentially saving them a substantial sum. At Premier Path Finance, we specialise in identifying which lenders offer discounts or complete LMI waivers, particularly for professionals in eligible industries who may qualify to borrow up to 90% LVR without paying this additional cost.
LMI is typically charged on loans above 80% LVR (loan to value ratio), meaning when your deposit is less than 20% of the property's value. The premium can be paid upfront or capitalised into the loan, increasing your overall borrowing costs and affecting your repayment calculations. Understanding whether you qualify for an LMI waiver should be an early priority in your home loan journey. Premier Path Finance reviews your financial situation, credit history, and professional background to identify opportunities where you may be able to borrow at a higher LVR without the added insurance cost.
Certain professions attract LMI waivers through select lenders - and this is where specialist guidance becomes genuinely valuable. Medical professionals, accountants, lawyers, and other qualified professionals may be eligible to borrow more with reduced or waived LMI costs. These exclusive offers are rarely advertised publicly, and without the right knowledge, you could miss out on significant savings. Our team stays current with which lenders offer these benefits, what their specific eligibility criteria are, and how to structure your application to maximise your position.
Beyond the immediate premium saving, an LMI waiver can meaningfully improve your overall financial position when purchasing property. The funds saved can be redirected toward your deposit, home improvements, or an offset account to reduce interest charges over time. When calculating repayments, the difference between paying LMI and receiving a waiver can have a real impact on your monthly budget and long-term wealth. Premier Path Finance takes a comprehensive approach to your home loan pre-approval - examining not just LMI eligibility, but also securing favourable interest rates and loan features that align with your goals.
Working with Premier Path Finance means partnering with mortgage broking specialists who understand the full scope of LMI waiver eligibility and how to structure a home loan that truly serves your interests. Whether you're a first home buyer, upgrading your family home, or investing in property anywhere across Australia, our nation-wide service ensures you have access to the full range of options available. We're committed to helping you understand your loan to value ratio, strengthen your borrowing position, and save money on what is likely your largest financial commitment. An LMI waiver may be within reach - let our experienced team at Premier Path Finance help you find out.
At Premier Path Finance, our process is built around your goals - not a generic checklist. Here is how we help Melbourne residents access LMI Waivers and secure home loans that work in their favour.
We begin with a relaxed, obligation-free discussion to understand what you are trying to achieve. Whether you are purchasing your first home, upgrading, or investing, we take the time to understand your financial position and explain how LMI Waivers may apply to your situation.
We assess your income, expenses, assets, and liabilities to determine your borrowing position. We also review your professional background to identify whether you qualify for an LMI waiver through any of our lender panel, and flag any other lender incentives or government schemes that may be relevant.
Not every lender offers LMI Waivers, and eligibility criteria vary significantly. We shortlist lenders whose policies align with your profile, comparing rates, features, and waiver conditions so you can make a well-informed decision with confidence.
We handle the documentation, structure your application to present your position clearly, and manage the submission process on your behalf. For purchasing clients, we can also guide you through pre-approval to strengthen your standing before you make an offer.
Once your loan is approved, we walk you through the terms, liaise with solicitors or conveyancers as needed, and coordinate a smooth path to settlement. Our team remains available throughout to answer questions and keep things on track.
Our relationship continues well beyond settlement. We conduct regular loan reviews to ensure your home loan remains well-structured and competitive, and we are here whenever your circumstances change or new opportunities arise.
At Premier Path Finance, we guide each client along a transparent, confident path to home ownership and lasting financial wellbeing. Drawing on more than 25 years of combined banking and finance experience, our award-winning team delivers mortgage strategies that are both sophisticated and straightforward.
Founded by Luke Owen and Michael Kirk, we built our firm on a simple belief: lending should never feel overwhelming. Whether you're a first-home buyer, seasoned investor, business owner or high-net-worth professional, we're by your side with clarity, integrity and genuine care.
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Shannon Campbell
We originally went to our bank with our complex file and felt under appreciated when our banker didn’t want to take the time to understand our needs. We then approached Luke who took less than 24 hours to provide us with an indicative and subsequently a pre approval. Our bank said it was not possible. We felt valued, appreciated and supported. Our family was able to purchase an investment property for our future and Luke was able to make that possible. Highly recommend.
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Stacie Karas
We have dealt with Luke from Premier Path Finance on numerous occasions for purchase of properties and refinances. Luke is very responsive and nothing is too much trouble. He has his clients’ best interest at heart! Every dealing has been a smooth and stress free transaction and we would not even consider engaging anyone else in the future. Highly recommend!
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Is
Luke was amazing helping me buy my first property, from our initial chat and chatting about my circumstances and next steps right through to settlement! Luke was always happy to answer my questions, talk through the process and give me all the options, and made a process I had no idea about as seamless as possible. Couldn’t recommend more highly!
Banks can only offer their own products. At Premier Path Finance, we compare a wide range of lenders to help you find a loan that suits your goals and circumstances.
We do the research, paperwork and negotiations on your behalf, making the process simple, stress-free and easy to understand.
Currently over 80% of loans in Australia are provided through a broker instead of directly at the bank, due to the options a broker can provide.
There is no cost to you for using a broker.
We are paid by the lender once your loan settles, which means you won't pay any additional fees and there is no impact on your interest rate or loan terms. Our service is designed to make the process easier by doing the research, comparing lenders and managing the paperwork on your behalf.
With Premier Path Finance, you receive expert advice and support at no extra cost, while we do the hard work for you.
Your borrowing capacity depends on factors including:
• Your income
• Existing debts and expenses
• Deposit amount
• Employment type
• Credit history
We'll assess your situation and help you understand your borrowing power before you start looking for a property.
Many lenders allow eligible borrowers to purchase with as little as a 5% deposit. A larger deposit may provide more lender options and help reduce costs such as Lenders Mortgage Insurance (LMI).
We'll guide you through your options and explain exactly what you'll need.
Pre-approval is an indication from a lender of how much you may be able to borrow before you purchase a property.
Pre-approval can help you shop with confidence and understand your budget. We'll manage the entire process and liaise with the lender on your behalf.
Timeframes vary depending on the lender and your circumstances. Many approvals are completed within a few days to several weeks.
Our team keeps the process moving and handles the communication with lenders, making everything easier for you.
Absolutely.
Buying your first home can feel overwhelming, but we'll guide you through every step. We'll explain the process in plain English, help you understand your borrowing capacity and determine whether you're eligible for grants and concessions.
Depending on your circumstances and location, you may be eligible for:
• First Home Owner Grants
• Stamp duty concessions
• Home Guarantee Scheme initiatives
We'll help you understand what support may be available and whether you qualify.
Yes.
A guarantor loan may allow eligible borrowers to purchase with little or no deposit while avoiding LMI.
Using a family guarantee in some cases can cover the full purchase cost of a property, inclusive of stamp duty (105% lend), with identical loan terms to a standard loan.
We'll explain how guarantor loans work and whether they're suitable for your circumstances.
Lenders Mortgage Insurance is generally required when you borrow more than 80% of the property's value.
LMI protects the lender, not the borrower. The cost varies depending on the size of your loan and deposit. We can help you understand whether it applies and explore options to minimise or avoid it.
Refinancing may help you:
• Lower your interest rate
• Reduce repayments
• Consolidate debts
• Access equity
• Improve loan features
We'll compare lenders and manage the refinancing process from start to finish.
Yes.
If your property's value has increased or you've paid down your loan, you may be able to access equity for:
• Renovations
• Investment properties
• Debt consolidation
• Personal expenses
We'll help you understand how much equity may be available and which options suit your goals.
Yes.
We assist investors with:
• Investment property loans
• Equity release
• Portfolio growth
• Interest-only lending
• Refinancing existing loans
Whether you're buying your first investment property or expanding your portfolio, we'll help create a strategy that aligns with your goals.
Yes.
Depending on your circumstances, some lenders offer low-deposit home loans and government schemes may also help eligible buyers enter the market sooner.
We'll explain your options and help you find a pathway into home ownership.
A fixed rate provides certainty by locking in your interest rate for a set period.
A variable rate can change over time and often offers greater flexibility, including offset accounts and extra repayments.
We'll explain the pros and cons and help you choose the right loan structure.
An offset account is a transaction account linked to your home loan.
The balance in the account reduces the amount of interest charged on your loan, potentially helping you save thousands over the life of your mortgage.
A construction loan is designed for people building a new home.
Funds are generally released in stages throughout the building process rather than in one lump sum.
We'll guide you through the process and coordinate with the lender and builder to help everything run smoothly.
Settlement is when ownership of the property is officially transferred and the loan funds are released.
We work closely with your lender, solicitor and conveyancer to ensure everything runs smoothly and keep you informed every step of the way.
We recommend reviewing your home loan every 12 to 24 months or whenever your circumstances change.
Regular reviews can help ensure you're still getting a competitive rate and the right loan features.
Multiple loan applications can impact your credit file.
That's why we carefully assess your situation first and recommend suitable lenders before submitting an application, helping you avoid unnecessary enquiries.
Premier Path Finance Pty Ltd ABN: 69 684 858 802. Credit Representative #570775 is authorised under Australian Credit Licence #384704.
Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
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