LMI is insurance that protects the lender if a borrower defaults on a loan. It's typically required when your deposit is less than 20% of the property's value.

You can leverage the equity in your existing property to finance an investment property. Equity is the difference between your property's market value and the outstanding mortgage balance.

Fixed-Rate Home Loan: The interest rate remains constant for a set period, providing repayment certainty. Variable-Rate Home Loan: The interest rate can fluctuate based on market conditions, which may affect repayment amounts.

An offset account is a transaction account linked to your home loan. The balance in this account offsets your loan principal, reducing the interest charged. For instance, with a $350,000 loan and $25,000 in your offset account, you'd only be charged interests.

LVR is the percentage of the property's value that you're borrowing. It's calculated by dividing the loan amount by the property's appraised value. A higher LVR indicates higher risk to the lender and may influence the loan terms or require LMI.