Estimate your Lenders Mortgage Insurance cost. LMI is required when borrowing more than 80% of a property's value.
Built and reviewed by John Pierre Saliba, MFAA Accredited, ACL 511092. Last reviewed 9 October 2026.
Doctors, dentists, lawyers, accountants, vets, and senior executives can get LMI waived entirely at up to 90-95% LVR, saving $15,000–$40,000.
Check your eligibility →A major Tier-1 lender waives LMI for properties in eligible Sydney postcodes at up to 90% LVR, regardless of your profession.
See all 119 postcodes →This is an estimate only. Whether you pay LMI at all depends on which lender assesses you; some waive it entirely for eligible borrowers.
Check Your Eligibility in 60 SecondsFree service. No credit check at this stage.
Before you accept this cost, check whether you need to pay it at all. LMI waivers are the most underused saving in Australian lending; I regularly see borrowers about to pay a five-figure premium who qualified for a full waiver and did not know it. If you work in medicine, law, accounting, or a senior executive role, read my guide to professional LMI waivers in Sydney, and if you are a doctor or health professional, start with the medical professionals page.
If no waiver fits, you still have choices: a slightly larger deposit can drop you into a cheaper LMI band, a government scheme can remove LMI on a 5% deposit purchase, and premiums differ between the insurers each lender uses. The figure above is an estimate only and subject to lender assessment, so confirm the real premium, and every waiver you might qualify for, before you commit.
The calculator first works out your loan-to-value ratio (LVR): the loan amount (property value minus deposit) divided by the property value. If your LVR is 80% or below, no LMI applies and the calculator shows $0. Above 80%, it applies a premium rate from a banded table that approximates standard Australian LMI insurer rate cards, where the rate rises steeply with LVR.
The premium is then adjusted with loadings that insurers commonly apply: investors pay more than owner-occupiers, and larger loans attract higher rates. Finally, state government duty on the LMI premium itself is added for NSW, VIC, and QLD. The calculator also shows the extra deposit that would bring your LVR to 80% and avoid LMI entirely, and an estimated NSW transfer (stamp) duty on the purchase.
Key assumptions used by the calculator:
This is a general estimate only, not credit advice or a quote. Actual LMI premiums vary by insurer, lender, loan size, and borrower profile, and some borrowers qualify for LMI waivers.
If the answer is more than two years ago, there is a fair chance you are paying the loyalty tax. As a guide, a 0.50% rate cut on a $600,000 loan saves about $181 a month. John checks your exact numbers for free, and if staying put is the right call, he will say so.
Typical switching costs run from about $700 to $1,200, covering discharge fees, government registration and a new application. On a $600,000 loan, a 0.50% rate cut saves about $181 a month, so most Sydney refinances recover their costs within three to nine months.
Often, yes, on larger balances. A 0.25% cut on a $600,000 loan saves about $91 a month, roughly $1,095 a year, which typically repays switching costs inside a year. Below that, the case depends on your balance, remaining term and fees; John runs the break-even numbers for you for free.
Most refinances settle within two to four weeks from application. Fast-track digital discharges can be quicker; a slow discharging lender is the most common delay. John manages the whole process, including chasing your current bank.