95% No LMI Home Loans

At JFS Financial Strategists, we're Finance & Mortgage Brokers helping clients get into their home sooner with a 95% LMI Home Loan

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Qualifying for a 95% No LMI Home Loan

How Do I Qualify for 95% LVR with No LMI Home Loan?

Our team at JFS Financial Strategists can help you find a home loan of 95% LVR without paying for LMI. These include leading and small banks with varying policies and requirements.

Doctors practicing in the following field:

Medical practitioner
Dental practitioner (division must be 'dentist')
Specialists (Refer to our Medical Special Page)

(Eligible specialists as identified in AHPRA as: Profession: Medical Practitioner Registration Type: Specialist)

We have mixed of 4 Major Lenders on our Panel could assist you.

What else Do You Need To Know about this 95% LVR Home Loan with no LMI?

AHPRA Registered
Industry body membership
You or Your partner must be an Australian Citizen or PR. (Please ask us if you are on another Visa)
If you are applying in joint names, only one person needs to be a doctor.
You can buy a home or an investment property
You can unlock lower rates by financing business debt against your home.
You can borrow up to $5 Million with no LMI.

Maximum Loan Amount for 90 LVR No LMI Home Loan

We know a few lenders who can let you borrow up to $5,000,000 in a home loan and $15,000,000 for each portfolio.

What Are the Rates at 90% LVR Without LMI?

Most banks and lenders will refrain from giving discounts or charging higher rates for non-conventional and high-risk lending products such as a 95% LVR loan without LMI. However, our brokers at JFS Financial Strategists have access to a vast panel of banks and lenders. We can help you find the most competitive rates and leverage better discounts than standard variable rates.

Call us today, and we’ll take you through all rates that work for your needs.

What are the Fees For 95% LVR Without LMI?

All costs involved for a 95% LVR without LMI are similar to any other type of loan. But depending on your case and loan amount, we can look into negotiating to waive some fees.

Feel free to speak with us, and we’d love to sit down with you and discuss your financial strategy.

What Lending Facilities Can I Use With 95% LVR Without LMI?

Once approved for a 95% LVR home loan with no LMI, you can still refinance, purchase another residential property, or access your equity and other facilities and services.

However, remember that you first have to demonstrate your capacity to service the loan as long as you work as a legal professional, engineer, accountant, dentist, or registered medical practitioner.

What to watch out for LMI waiver loan?

We have a Panel of lenders that offer to waive your LMI based on your occupation, however, on some occasions we need to watch out for other restrictions for the type of property that you purchase, hence we always do check if there’s further restrictions in the postcode area that you could be purchasing, and if you are buying in high density locations. Some lenders may require Debt-to-Income ratio of 6 or below.

What other ways of avoiding paying LMI?

Guarantor Loan option

A guarantor loan allows a close family member, often a parent, to use the equity in their property as security for part of your home loan. This reduces the lender's risk and allows you to borrow up to 100% of the property value without paying LMI. The guarantor’s property acts as additional security, which means LMI can be avoided entirely, even with a small or no deposit.

Key points:

The guarantor is liable for the portion of the loan they secure if the borrower defaults.
Some lenders allow the guarantor to be released from the loan once the borrower has paid down the loan to an 80% LVR or less.

First Home Buyer / Home buyer Guarantee Scheme in each state

The Australian government offers the First Home Guarantee (formerly known as the First Home Loan Deposit Scheme), which allows eligible first-home buyers to purchase a home with a deposit as low as 5%, without the need for LMI. The government acts as a guarantor for up to 15% of the property’s value.

Key points:

Available to first-home buyers purchasing their first property for owner-occupation.
There are price caps based on location, so eligibility varies depending on the state or territory.
Borrowers must meet income thresholds (for individuals and couples).

Book a strategy session with us today.

Our in-house brokers at JFS Financial Strategists can take you through various lending options to make the most out of your 90% LVR home loan without paying for LMI. Call us today to kick start your property journey with us.

Ready to chat to one of our team?

Book an Appointment

Our Recent Reviews

Jamie and the team at JFS Financial Strategists made the mortgage pre-approval process smooth and stress-free. He was efficient and completed everything quickly, which significantly eased the pressure. Highly recommend working with him for any mortgage needs.

Catherine Piasini

I've had some less-than-ideal experiences with brokers in the past, but Jamie and the team at JFS Financial Strategists were a refreshing change. They actioned our request with impressive speed and took the time to explain everything in detail, yet in a way that was easy to understand. Their professionalism and clear communication made the whole process smooth and stress-free. Highly recommend!

Keiran Piasini

Extremely impressed with Jamie’s expertise and level of service - highly recommended!

Jake Ward

Nick Hart

Frequently Asked Questions

How Much Deposit Should I Have?

Most lenders will require a 20% deposit for home loans and processing fees. That’s why we suggest having at least a 20% deposit so we can better negotiate the rates for your loan.

Otherwise, we can look for other solutions such as a Family Guarantee or government grants such as the First Home Loan Deposit Scheme (FHLDS).

How Much Will Getting a Home Cost?

Here is the breakdown of costs in processing or buying a new home. Note that your real estate broker may have more or fewer requirements and fees depending on several factors.

- Home loan deposit (we recommend a 20% deposit if you don’t have government schemes in place)
- Legal fees
- Lenders’ Mortgage Insurance (LMI), although we can help you negotiate for an 80% LVR with no LMI for home loans depending on your financial position.
- Lender’s Establishment Fees for Specialist Loans

Furthermore, your local council may require you to pay the following fees:

- Government Registration & Transfer Fees
- Due Diligence Fees (pest inspection, strata report, etc.)

Aside from legal and lending fees, you should also note labour costs, moving, and furnishing your new home. Don’t forget about living expenses and your monthly mortgage repayments.

What if I Can’t Make the 20% Loan Deposit?

Usually, you only need to have a minimum deposit of about 5-10% of the property value to purchase it.

But if you still don’t have that amount, we recommend opting for a family guarantee, especially if your parents have considerable equity in their property. Otherwise, paying for LMI should help you get finance as long as you and the house you want to purchase are eligible.

Why Do I Need a Mortgage Broker for Property Investing?

Having a time-tested and proven mortgage broker can help you:

- Thoroughly assess and determine your borrowing capacity.
- Understanding what documents you need to prepare when buying a property
- Make sure you have enough equity and set an appropriate property budget.
- Develop a long-term and sustainable financing strategy
- Establish a sustainable and reliable financing strategy
- Take you through different partner specialists (solicitors, tax and depreciation experts, mortgage brokers, and buyer agents)

Property investors should also walk away with an improved loan portfolio with our help at JFS Financial Strategists.

How Can I Tell if Property Investing Works for Me?

Before venturing into property investing, make sure you have:

- Extra cash flow after deducting living expenses and outstanding debts
- Saved enough equity or deposit in a property.

Besides, remember that investing incurs varying risks. So we recommend having an investor’s mindset and trying to mitigate the risks of investing by looking into what you will earn in an investment property.

That means going out of your way to make several enquiries just to ensure what you’re venturing into is right for you.

What is LMI or Lenders’ Mortgage Insurance?

When applying for a home loan, you should hear the term LMI or Lenders’ Mortgage Insurance from your bank or broker.

You pay your insurance provider a one-time fee when applying for loans above a specified Loan to Value Ratio (LVR).

LMI is required when the bank or lender is exposed to higher risk on your loan. What happens when you’re borrowing more for less deposit.

If you default on the loan and the bank sells the property at a loss, the LMI insurer will reimburse your lender for the loss. On your end, that means you can borrow more and purchase higher-valued properties. The only con is that you need to pay an LMI fee which increases along with LVR and loan amount.

Who Are We?

At JFS Financial Strategists we are big about saving you time and money so you could spend more time on doing what you love. We take over the project from start to finish, through research, reviewing the fine prints, negotiations with lenders and their credit managers, comparing rates and fees to achieve your goals.

How Much Amount Can I Borrow?

The amount and Loan to Value Ratio (LVR) you can borrow will depend on your capacity to repay the loan. In other words, your net income is gross income minus tax and other expenses you need to make.

Contact

North Strathfield, NSW

0401 855 096

JFS Advisory Pty Ltd ABN: 19 623 513 119. Credit Representative #427424 is authorised under Australian Credit License #387025

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.

Cashback Offers: From time to time, we may run campaigns that include cashback in the form of cash gift cards. The gift card would be set to 25% of the total agreed dollar value, and distributed half yearly within the first two years. Cards will not be issued if loan facilities were discharged within the first 24 months.