LMI Waiver for Professionals Why Buyers Ask FHBA
Okay so lenders mortgage insurance is basically a tax you pay if your deposit's under 20%. But here's the thing — some professionals skip it completely. That's the whole point of an LMI waiver for professionals . Doctors, lawyers, accountants, a bunch of others. Banks trust your income more, apparently, so they cut you a break. Who Actually Qualifies (Spoiler: Not Just Doctors) Everyone assumes it's just medical people. Not true honestly. The list keeps growing every year and different banks have different rules, which is annoying but whatever. Common eligible professions usually include: Medical practitioners and specialists Vets, pharmacists, dentists Actuaries and accountants (CA or CPA) Solicitors and barristers Some engineers depending on the lender Each bank has its own criteria though, so what qualifies you at one place might get rejected somewhere else entirely. LMI Waiver Scheme vs Normal FHB Deals People mix up the LMI waiver scheme with the government's ...