Any home lenders out there? I've done a few calculations based on my limited knowledge but I'm a business lender so not 100% certain I'm correct. I'd rather not take this to my colleagues right now so thought I'd ask here first.

Situation is, we have house A which we purchased for $249k 5 years ago, and now has a loan of $208k. We used equity in that property and bought house B for $322k 3 years ago, has a loan of $326k. Our total debt was 95% of the value of our properties, so we paid LMI on that.

Now, if we sell property A, we have to repay that loan and a portion of the loan for property B. My question is, can we pay it down to just 95%, because we've already paid LMI to that level? Or do we have to repay more, or pay LMI again?

Thanks!