Is LMI worth paying? With Denise Raward
Jun 22, 2025•13 min
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Episode description
We spoke to resident finance journalist Denise Raward on the benefits and drawbacks of lenders mortgage insurance, or LMI. It's a necessary evil if you have less than a 20% deposit for a home loan. As Denise explains, however, you'll have to weigh up the cost versus waiting longer outside the market to save up the 20%.
00:00 - Intro and savings tip, learn how to cook
01:35 - LMI costs explained
03:44 - LMI waivers
08:27 - Better to wait to save or just pay LMI
12:00 - Outro
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