LMI Calculator
Estimate lenders mortgage insurance (LMI) on a low-deposit home loan in Australia. The smaller your deposit, the higher the LMI, this gives an indicative figure.
LMI is a one-off premium that protects the lender when your deposit is under 20%. At a 5% deposit it can run to several percent of the loan; at 15% it’s much smaller. Eligible first home buyers may avoid it entirely via the First Home Guarantee.
- ✓A 20% deposit avoids LMI completely
- ✓First home buyers may skip LMI via the First Home Guarantee
or from $66/week over 5 years , indicative finance
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Lenders mortgage insurance (LMI) is charged when you borrow more than 80% of a property’s value. It protects the lender, not you, and is a one-off premium that can be added to the loan. The lower your deposit, the higher the LMI.
Pricing reviewed: June 2026.
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Understanding lmis in Australia
Lenders mortgage insurance (LMI) is charged when you borrow more than 80% of a property’s value. It protects the lender, not you, and is a one-off premium that can be added to the loan. The lower your deposit, the higher the LMI.
Ways to avoid LMI include saving a 20% deposit, using a family guarantor, or qualifying for the government’s First Home Guarantee, which lets eligible buyers purchase with 5% and no LMI.
Frequently asked questions
How much is LMI?
It varies with your loan-to-value ratio and loan size, anywhere from under 1% to several percent of the loan. This calculator gives an indicative figure.
Can I avoid LMI?
Yes, with a 20% deposit, a guarantor, or via the First Home Guarantee for eligible first home buyers.
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