LMI estimator

See whether you'd pay Lenders Mortgage Insurance, and roughly how much.

Loan: $630,000 · LVR 90.0%

Estimated LMI

$13,230

Your deposit is under 20%, so LMI applies. You'd need about $70,000 more deposit to reach 20% (an 80% LVR) and avoid it.

Indicative estimate only. Actual LMI premiums vary by lender and insurer, your exact loan amount and LVR, and whether you're an owner-occupier or investor — and may be reduced or waived (e.g. the Home Guarantee Scheme). Not financial advice. Talk to us for an exact figure.

About this calculator

Lenders Mortgage Insurance (LMI) is a one-off cost lenders charge when you borrow more than 80% of a property's value — that is, when your deposit is under 20%. It protects the lender (not you) if the loan isn't repaid, and the premium rises steeply the smaller your deposit.

This estimator gives you a ballpark LMI figure from your property price and deposit, shows your loan-to-value ratio (LVR), and tells you how much more deposit would get you to 20% and avoid LMI altogether. First home buyers may be able to skip LMI through a government guarantee — ask us.

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How it's calculated

  • We work out your loan (price minus deposit) and your LVR (loan ÷ price).
  • If your LVR is 80% or under, there's no LMI. Above 80% we apply an indicative premium rate that increases with your LVR band.
  • We also show the deposit needed to reach an 80% LVR, where LMI no longer applies.

Frequently asked questions

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