Another lender eases the LMI burden

Non-bank lender Resimac no longer requires lenders mortgage insurance for home loans with a loan to valuation ratio of 85 per cent.

Resimac’s Prime Standard and Premium home loan products now do not require LMI for loans on 85 per cent LVRs if the property is located in a favoured Category 1 location.

This offer is available to both owner occupiers and investors. The maximum loan amount for this offer is $1,100,000.

Source: Broker News

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