Lenders Mortgage Insurance Estimator
Estimate lenders mortgage insurance cost using an editable provider rate, based on your loan amount and deposit size.
Your results
Calculation breakdown
- Estimated LMI
- loan amount × estimated LMI rate
Worked example
A $600,000 purchase with a $60,000 deposit (90% LVR) at an estimated 2.5% LMI rate suggests a premium of around $13,500.
Assumptions
- LMI rates vary widely by lender, insurer and LVR band — this uses your own estimated rate, not an official schedule.
- Excludes stamp duty on the LMI premium, which applies in some states.
How this calculator works
Lenders mortgage insurance protects the lender, not you, when your deposit is below 20% of the property value. LMI premiums are set individually by each insurer and lender, so this calculator uses an editable estimated rate you enter to model the likely cost against your loan amount.
Frequently asked questions
Why isn't there a fixed LMI rate here?
LMI premiums vary by lender, insurer, loan size and loan-to-value ratio, so no single official rate applies — get an exact quote from your lender.
Can LMI be added to the loan?
Many lenders allow LMI to be capitalised into the loan amount, which increases your total interest paid over the loan term.
How can I avoid paying LMI?
Save a 20% deposit, use a guarantor loan, or check eligibility for a government deposit guarantee scheme.
Results are estimates only and are not financial, tax, legal or credit advice.