LMI Calculator

Estimate your Lenders Mortgage Insurance cost. LMI is required when borrowing more than 80% of a property's value.

Last updated: July 2026 · Reviewed by John Pierre Saliba, Director and Mortgage Broker, MFAA Accredited

🏠 Property Details

Property value *

Your deposit

State

Buyer type

First home buyer?

🏥 LMI Waiver, Medical & Legal Professionals

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 →

📍 Location LMI Waiver, 119 Postcodes

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 →

Estimated LMI Cost

One-off premium (can be capitalised)

Loan amount$0

LVR0%

Deposit$0

LMI as % of loan0%

Extra deposit to avoid LMI$0

Stamp duty (estimated)$0

Want to avoid LMI?

We know every LMI waiver available, profession-based, location-based, and government schemes.

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Estimate only. Actual LMI varies by insurer (Genworth, QBE, Arch). Stamp duty estimate for NSW. Lend & Loan ACL 511092.

How this calculator works

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:

No LMI at 80% LVR or below.
Premium bands: roughly 0.6% of the loan just above 80% LVR, rising through 1.2% at 85%, 3.4% at 90%, and 5.4% at 95%, with 6.5% applied above 95% LVR.
Loadings: investor loans multiplied by 1.15; loans over $750,000 multiplied by 1.15; loans over $500,000 multiplied by 1.05.
Government duty on the LMI premium: 9% in NSW and QLD, 10% in VIC.
NSW transfer duty estimate uses current NSW brackets, with the first home buyer exemption up to $800,000 and a concession up to $1,000,000.

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.

LMI FAQ

How is LMI calculated?

LMI is calculated as a percentage of your loan amount, and the percentage rises sharply with your loan-to-value ratio (LVR). At 81% LVR the premium can be under 1% of the loan; at 95% LVR it can exceed 5%. Insurers also apply loadings for investors and for larger loans, and most states charge duty on the premium itself. The premium is a one-off cost, usually added to the loan.

How can I avoid paying LMI?

The main options are: save a 20% deposit so your LVR is 80% or below; use a guarantor to reduce the effective LVR; qualify for a professional LMI waiver (doctors, dentists, lawyers, accountants, and some other professions can borrow up to 90-95% LVR with no LMI); buy in an eligible postcode where a major Tier-1 lender waives LMI at up to 90% LVR; or use a government scheme such as the Home Guarantee Scheme.

Can LMI be added to my loan?

Yes. Most lenders let you capitalise the LMI premium, adding it to the loan balance instead of paying it upfront. This preserves your cash but means you pay interest on the premium for the life of the loan, and it slightly increases your LVR. Some lenders cap the total LVR including capitalised LMI at around 97%.