Skip the mortgage insurance premium and keep the deposit you saved
Lenders Mortgage Insurance protects the lender, not you, and you pay for it. APW Finance is a No LMI Home Loan Broker in Sydney for buyers who would rather not hand over that premium.
On a Sydney purchase the cost is rarely small. At 90% of a $1.2 million property the premium commonly lands between $20,000 and $30,000, added to a loan you then pay interest on for decades.
There are four legitimate routes around it, and a broker for LMI waiver home loans should price all four before recommending one:
Which one wins depends on numbers, not preference. A waiver saves the premium outright, while the scheme caps the property price and a family guarantee puts someone else’s home behind your loan.
Our guides to what LMI actually is and what it costs at each deposit level put real figures against the decision.
Waiver policy is the part that changes quietly. Lists of eligible occupations, income thresholds and maximum LVRs move without announcement, and your own bank will only ever tell you about its own policy.
We hold a current view across the panel, so your application goes to the lender whose waiver actually fits your profession and deposit this month.
Timing matters too. If a valuation or six months of repayments would tip you under 80%, waiting a quarter can be worth more than any waiver, and it costs nothing to check first.
Equally, waiting two years to reach a full 20% deposit is rarely the winning move in Sydney. Prices have historically moved faster than most households save, so the premium avoided is offset by a higher purchase.
You will get a written position before anything is lodged, setting out which route applies, what it saves in dollars and what it costs you elsewhere. Nothing reaches a lender before you have seen it.
Doctors, lawyers, accountants and a widening list of other occupations can borrow with the premium waived, in some cases to 95% of the value. Eligibility turns on registration, membership and income rather than job title alone.
The Australian Government 5% Deposit Scheme removes the premium for eligible first home buyers by guaranteeing the gap. Since October 2025 there is no income cap and no limit on places, with a $1.5 million price cap in Sydney.
A limited parental guarantee lifts your effective security past 20% without anyone handing over cash. The guaranteed amount is capped, and we plan the release date at the outset rather than leaving it open-ended.
Sometimes paying the premium is the cheaper answer, particularly when a waiver comes attached to a materially higher rate. Your No LMI Home Loan Broker in Sydney should run that comparison and tell you when avoiding it costs more.
A No LMI Home Loan Broker in Sydney treats the premium as a number to be beaten, not a fee to be accepted. Four routes exist around it, and the right one depends entirely on your file.
Send us your occupation, income and deposit position. Your No LMI Home Loan Broker in Sydney will confirm which of the four routes applies to you within one business day.
If avoiding the premium entirely is the goal, our guide to how to avoid LMI covers every option side by side.
Independent guidance on mortgage insurance is published by ASIC MoneySmart.
APW Finance Pty Ltd delivers expert lending solutions with personalised service, empowering clients across residential, commercial, and business sectors.