PMI's Product Suite
The following table is designed to enable lenders to determine the appropriate LMI solution for their borrowers.
| Full documentation loans | PMI Solution |
| 100% cover for full documentation loans up to and including $1,000,000 | pmiADVANTAGE |
| Low documentation loans | PMI Solution |
| 100% cover for low documentation loans up to and including $1,000,000 for self-employed borrowers who have complicated income structures and do not provide up-to-date financial information. Employed (PAYG) borrowers are allowed as co-borrowers only | pmiLOWDOC |
pmiADVANTAGE offers straight forward underwriting policy, pricing structure, and greater alignment with customer policy which makes doing business with PMI easy.
Key features are:
- No genuine savings required for pmiADVANTAGE up to 95% LVR
- Only 3% genuine savings required above 95% LVR
- Max loan amount for pmiLOWDOC up to $1M in Metropolitan areas
- Vacant land in Metropolitan location supported to 95% LVR
For full details of pmiADVANTAGE, please view our Australian Product Guide.