LMI Calculator

Estimate Lenders Mortgage Insurance for Australian home loans. LMI is required when your deposit is below 20% (LVR above 80%). Educational estimate only.

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Your property details

Property price ($)

Your deposit ($)

LVR: 86.7% · Deposit: 13.3%

LMI Rate Bands

≤ 80% LVRNone No LMI

80–85% LVR0.6–1.0% of loan

85–90% LVR1.5–2.2% of loan

90–95% LVR3.0–4.0% of loan

95–97% LVR4.5–6.0% of loan

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Enter property price and deposit

LMI applies when your LVR exceeds 80%. Enter your property price and deposit to see your estimated LMI and how much you'd need to save to avoid it.

Frequently asked questions

Lenders Mortgage Insurance (LMI) is insurance that protects the lender (not you) if you default on your loan. It's required when you borrow more than 80% of the property's value. Despite protecting the lender, the cost is paid by you — the borrower.

LMI varies by lender and insurer (mainly Helia/Genworth and QBE). As a rough guide: at 85% LVR expect 0.6–1.0% of the loan amount; at 90% LVR expect 1.5–2.2%; at 95% LVR expect 3.0–4.0%. On a $600,000 loan at 90% LVR, that's $9,000–$13,200.

Yes — in most cases LMI can be capitalised (added to your loan balance) rather than paid upfront. This means you don't need the cash on settlement day, but you'll pay interest on it over the life of the loan, increasing the total cost.

Save a 20% deposit (LVR of 80% or below). Alternatively, some lenders offer LMI waivers for specific professions (doctors, lawyers, accountants) at up to 90% LVR. The First Home Guarantee (Government) allows eligible FHBs to borrow up to 95% without LMI.

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