SnM replied to the topic 1st Investment Property – Mortgage Insurance? in the forum Help Needed! 14 years, 2 months ago
As far as I know, if you can come up with a 20% deposit you wont need to pay mortgage insurance. Assuming you have no deposit saved you should still be able to come up with the 20% by accessing the equity in your PPOR. Generally lenders offer 80% of this equity which in your case is $110,000.