- Paul22MMember@paul22mJoin Date: 2006Post Count: 26
Hi there , I am planning on buying my first home next year sometime , was wondering can anyone tell me how much deposit percentage I would need to avoid having to pay mortgage insurance? for example if I am looking around the 350000 mark how much deposit would I need to avoid needing to have it??
ThankslopethaParticipant@lopethaJoin Date: 2007Post Count: 82
Generally its 80% so $70K on a $350k property.BennyteeParticipant@ten_burnerJoin Date: 2006Post Count: 243
the usual is 20% or $70,000 for a $350,000 property, to avoid paying LMI (lenders mortgage insurance)TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213