The surprising truth most buyers miss…

Think you need a 20% deposit to borrow big? Not always. With the LMI waiver scheme, many Australians especially professionals can unlock higher borrowing power sooner, without paying tens of thousands in insurance costs.

What is a first home buyer LMI waiver?

A first home buyer LMI waiver allows eligible borrowers to skip lenders mortgage insurance even when borrowing above 80% of a property’s value. That means you can enter the market faster with a smaller deposit often just 5–10%.

How much can you actually borrow?

Here’s where it gets interesting. Most lenders allow borrowing up to 90–95% of the property value with no LMI, depending on your income, profession, and credit strength.
In some exceptional cases, negotiated deals can even push beyond this range, though standard approvals sit within that 90–95% sweet spot.

Key benefits you shouldn’t ignore

Save thousands upfront

LMI can cost tens of thousands waiving it keeps more cash in your pocket.

Enter the market sooner

You don’t need to wait years saving a 20% deposit.

Boost borrowing confidence

Lenders view certain professions as low risk, which can improve loan terms.

How the process works

Step 1: Check eligibility

Typically includes doctors, lawyers, accountants, engineers, and other high-income professionals.

Step 2: Assess borrowing capacity

Your income, expenses, and credit profile still determine how much you can borrow.

Step 3: Apply through a broker

A specialist can match you with lenders offering the best waiver terms.

Why trust this strategy?

Major Australian lenders already offer LMI waivers because professionals statistically have lower default risk and stable income growth.

Ready to maximise your borrowing power?

Don’t leave thousands on the table. Discover if you qualify and how much you can borrow with confidence.

Start your journey today with First Home Buyers Australia and unlock your full potential.