Lenders Mortgage Insurance Explained: A Tool for Accelerated Portfolio Growth

 

 

Saving up too much before buying property comes with opportunity costs. Is there a way around this and buy earlier?

 

In this episode, Casey Taylor, Buyers Agent and Founder of Taylored Property Wealth, dives into the often misunderstood topic of Lenders Mortgage Insurance (LMI) and its potential as a powerful tool for accelerating property portfolio growth.

 

Todd and Casey discuss the basics of LMI, explaining that it is a fee paid by borrowers to protect lenders when the borrower has a smaller deposit, indicating higher risk.

 

The hosts present a comparative analysis between two hypothetical investors, John and Jim. One opts for a small deposit and pays LMI, while the other waits to save a larger deposit to avoid LMI altogether. Through their discussion, they highlight the financial implications of both strategies, emphasising that one's approach allows him to enter the market sooner and potentially benefit from significant property appreciation.

 

Listeners learn about the importance of understanding opportunity costs, the risks associated with high leverage, and the questions to ask mortgage brokers to make informed investment decisions. Click on this episode now to learn more about this powerful investment tool!

 

 

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Get in touch with our amazing episode contributors & sponsors:

 

Taylored Property Wealth: https://tayloredpropertywealth.com.au/

 

Come visit Suburbs Finder to use their wide range of tools: https://www.suburbsfinder.com.au/

 

Talk with Dawn Fouhy and her team today: https://futureproofpropertyadvisory.com.au/

 

 

 

Want more help understanding how to buy property faster and for less? Get your copy of Todd Sloan’s book today:

 

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