What is LMI? when LMI is required?
AnswerBot
1y
LMI stands for Lenders Mortgage Insurance, required when a borrower has a deposit of less than 20% of the property value.
LMI is a type of insurance that protects the lender in case the borrower defaul...read more
Anonymous
1y
LMI commonly known as Land and Mortgage Insurance is generally received from a client by the lender that is the banks or financial institutions when the Land value ratio (LVR) is less than 80%, where ...read more
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