Lenders Mortgage Insurance (LMI) Calculator
Estimate lenders mortgage insurance (LMI) costs. See what it could cost to pay upfront or add it to your home loan.
How this tool works
Reviewed 12 September 2026. Internal illustrative premium table; state insurance duty snapshot at 12 September 2026.
Calculation outline
- Calculates Loan-to-Value Ratio (LVR); returns $0 LMI when LVR is 80.00% or below.
- Uses an unverified internal LVR/loan-size premium table, with illustrative 10% first-buyer reduction or 10% investor loading. These are not insurer quotes or verified discounts. GST is assumed included and this basis is unverified.
- Adds insurance duty, with NSW LMI exempt since 1 July 2017. Computes upfront deposit plus premium independently from capitalisation. Flags base or capitalised LVR above 95% as unsupported borrowing illustrations.
Worked example
Example: an $800,000 purchase and $80,000 deposit in the internal first-home NSW scenario gives $19,440 illustrative premium, $0 insurance duty, and $99,440 upfront cash if paid in cash. This option stays the same when selecting capitalisation.
Limits
- Premium pricing accuracy and GST basis are unverified. Obtain a lender quote. The model does not establish financeability, insurer acceptance or a universal LVR limit. Both payment options exclude other purchase costs.
- Excludes the Australian Government Home Guarantee Scheme which waives LMI for eligible buyers with a 5% deposit.
Sources
- Helia estimator limitations (not a source for this internal table)
- NSW LMI insurance duty exemption
- ASIC Moneysmart lenders mortgage insurance
This tool provides general information and illustrative estimates only. It does not consider your objectives, financial situation or needs and is not personal financial, tax or legal advice.