31 Jul Podcast: Deep Dive – Borrowing Capacity vs Purchase Capacity

Posted at 08:15h in Blog, Podcast by Tash

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In this episode of You Have My Interest, we’re taking a closer look at the difference between borrowing capacity and purchase capacity - two terms that are often used interchangeably but can lead to very different outcomes when planning to buy a property. This topic was prompted by a recent client scenario, where a buyer was exploring the option of using a lenders mortgage insurance (LMI) waiver due to having a smaller deposit. After reviewing their situation and running the numbers, we actually recommended that they proceed with paying LMI instead. Why? Because it gave them access to a higher loan-to-value ratio and increased their overall purchase capacity.

26 Jun Podcast: Finance File – FHB Solo Purchase with No LMI at 95%

Posted at 10:15h in Blog, Podcast by Tash

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This week on You Have My Interest, we break down a real first home buyer scenario to show how government initiatives can help make homeownership possible. We share the journey of a 32-year-old nurse unit manager in Victoria who purchased her first property using the First Home Buyer Government Guarantee Scheme, avoiding lenders’ mortgage insurance, and explored eligibility for both this and the First Home Owner Grant.

two people in discussion: Melbourne brokers help buyers with LMI process.

23 Jun Lenders Mortgage Insurance: A Complete Guide for Homebuyers

Posted at 15:27h in Blog by EverLend Blog Team

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Buying a home is a major milestone, and for many Australians, getting there means navigating Lenders Mortgage Insurance (LMI). If your deposit is under 20%, chances are you've heard of it. But what does it actually mean for your loan, your budget, and your options? In...