It’s easier to avoid that ‘evil’ LMI
Sep 01, 2021
3 minutes
Michelle Baltazar
Depending on how you look at it, lenders mortgage insurance (LMI) is a necessary evil or a necessary good.
As a rule of thumb, banks will lend you up to 80% of the price of your dream home as long as you can stump up the remaining 20%. However, with average salaries barely keeping up with skyrocketing property prices, even 20% is out of reach for most people.
This is why banks have come
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