Browse Forums General Discussion 1 May 31, 2023 8:15 am I'm getting closer to a deposit for a home, but I am so sick of the rental market and keen to go with a lower deposit and settle for the LMI (lender's mortgage insurance) just want to get into a place of my own. Does anybody have any advice? I've taken a look at the following banks/lenders: Is there any bank/lender which stands out and has better opportunities or rates? Thanks in advance! It takes half your life before you discover life is a do-it-yourself project. - Napoleon Hill Re: LMI or Saving? - Help, which is better? 2May 31, 2023 9:49 am my personal opinion if you have saved 10% deposit then get LMI as house prices just keep rising if you did not save the 10%, but inherited it or gifted it then do your math that you can actually afford a home, along with rate increases, rates, insurance maintenance etc Re: LMI or Saving? - Help, which is better? 3Jun 02, 2023 7:53 am You've made some excellent points. I think I'd rather settle at getting a house and an LMI than watch the time go by and never reach the goal of buying a home. It takes half your life before you discover life is a do-it-yourself project. - Napoleon Hill Re: LMI or Saving? - Help, which is better? 4Jun 02, 2023 9:43 am i'd use a mortgage broker, because the amounts you can borrow can vary significantly between banks. i wouldn't worry about LMI, it's just one of the costs. the more important thing is whether you can afford the repayments. Re: LMI or Saving? - Help, which is better? 5Jun 03, 2023 9:49 am You might want to consider using a broker Debbie, with a recommendation from someone you know. They do a lot of work for you and will save you a lot of time. Re: LMI or Saving? - Help, which is better? 6Jun 07, 2023 11:46 am Thanks @Troverr Mattress Bags - I will hunt around for a broker to streamline the process. It takes half your life before you discover life is a do-it-yourself project. - Napoleon Hill Bigger the better for storage for me IMO. But I guess it's harder to tell the cost/benefit in your example - mainly the 'cost'? If you go 700mm, what are you doing extra… 2 1916 Black on light wood does look good. Not sure if it will be as long lasting as a steel finish? 6 6510 Thank you. Do I use timber floorboards for stairs or do people use timber treads? Or is both the same? 6 7491 |