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This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about Home Loans from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all provider sand may not compare all features relevant to you, for further details refer to our FSCG. The rating shown is only one factor to take into account when considering these products. See the rating methodology We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a Home Loan, you will deal directly with a financial institution, and not with RateCity.

Lenders Mortgage Insurance

Thinking about choosing a home loan? Don't forget about the hefty cost of lenders mortgage insurance. While you're saving for a deposit, whether you are buying your first home or refinancing, make sure you factor in lenders mortgage insurance if you're planning to borrow more than 80 percent of the purchase price.

Lenders mortgage insurance (LMI) is a security cost against the loan for the lender in case you default on repayments. The lender is covered by the insurance but it is the mortgagee that must pay for the bill. Usually lenders mortgage insurance is an upfront cost that lenders charge but some lenders do allow you to add the burden to your loan.


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About Mortgages Articles

RateCity provides mortgage news and features, including a range of weekly stories and economic updates. By checking our mortgage news and features daily, you can ensure that you receive up to date, expert commentary on current financial and economic issues. Before you search, compare or apply for the best mortgage for you, help yourself understand the market by reading mortgage news and features at RateCity.

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