Possible borrowing amount with no LMI

I am a first time property buyer looking to buy something(Only Unit possible probably) in sydney with 90% LVR (with LMI waived due to a qualified actuary with income around 170k). Have around 75k deposit. Can anyone tell what the maximum(range is fine) I can borrow and which banks allow no LMI loans for actuary. What could be potential variable and fixed rates. Thanks in advance.

 

Do you hold a CPA membership? A few lenders are lending 90% without LMI for chartered accountants. Off the top of my head I'm not aware of any lenders offering LMI waivers to actuary's though.

Assuming you don't have to pay LMI, a $75k deposit would give you a purchase price of a little over $500k as an investment property, or somewhere between about $650k - $700k as a first home buyer (assuming you qualify for discounted or waived stamp duty).

Rates are pretty much the same as everyone else gets.

 

FIAA membership? Usual lenders will consider LMI waiver for Actuary, Westpac group are down to 85% at the moment but possibly CBA.

 

Westpca LMI waiver at 85% is only for medical professionals, no longer offered for any other professionals.

 

Sounds like you need a broker

 

Nah! Already done the shopping and got different answers with little consensus.

(Just like asking any two professionals for their opinion).

 

ANZ still does 90% no LMI and does it for Actuaries.

 

ANz has lo

Just a shame about their SLA's at the moment

 

@anirban mukherjee Do you hold current professional membership with FIAA (Fellowship of the Institutes of Actuaries of Australia)?

 

For 86% LVR would st george charge LMI equivalent to(without $1 offer) 81% or 86% ?

In other words, would someone doing 86% loan would still benefit from st george offer?

 

I'm in a near identical situation - have spoken to a broker who has recommended CBA (3.03% variable). Keen to hear what you landed on for the sake of comparison? Thanks

 

That's right. LMI waiver, 3.03 variable or 2.29 fixed. Unsure currently if Bankwest also offer the waiver, if they do, 2.24 fixed may be possible. Suspect this is as good as I'll get as none of the lower-rate lenders seem to offer the waiver

 

Are ANZ the only big 4 doing 90% lvr lmi waivers for accountants at the moment?

 

CBA too

 

I hear that CBA cap the max amount of your loan though in instances of waived LMI's?

 

What loan size do you need to go to?

I find ANZ pricing better than CBA for 90% waiver at the minute. Neither of them have fast approval timelines though.