LMI calculator
Estimate your LMI.
If your deposit is less than 20% of the property's value, most lenders will charge lenders mortgage insurance. Enter the property value and your deposit to see your loan-to-value ratio and an indicative LMI premium, and find out whether you might be able to avoid it.
What is lenders mortgage insurance?
Lenders mortgage insurance (LMI) is a one-off insurance premium that lenders usually charge when you borrow more than 80% of a property's value. It protects the lender, not you, if a loan can't be repaid. The premium depends mainly on your loan size and your loan-to-value ratio (LVR), and it's often added to the loan rather than paid upfront.
LMI can help you buy sooner with a smaller deposit, but it adds to the cost of borrowing. Depending on your situation, there may be ways to reduce or avoid it, such as a larger deposit, a guarantor, or government schemes and professional packages offered by some lenders.
Estimated LMI premium
$0
- Loan amount $0
- Loan-to-value ratio (LVR) 0%
- Indicative premium rate –
- Loan if LMI is added to it $0
Eligible first home buyers may be able to buy with a 5% deposit and no LMI under the Australian Government's Home Guarantee Scheme. Ask us if you qualify.
Ask about avoiding LMIIndicative estimate only, based on typical premium rates by LVR and loan size. Actual premiums vary by lender, insurer, loan purpose and your circumstances, and may attract government charges.
Important: This calculator provides a general estimate only and does not take into account your personal circumstances or any lender's specific credit policy. It is not a quote, credit assessment or offer of credit. Speak with a Kingdom Capital broker for advice tailored to you.
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