LMI Calculator
Work out your LVR, estimate your Lenders Mortgage Insurance premium, and see exactly how much extra deposit you would need to avoid LMI altogether.
Four ways to reduce or avoid LMI
Reach a 20% deposit
The cleanest path. The calculator above shows the exact gap between your deposit and 20%. Sometimes a slightly cheaper property, or a few more months of saving, removes the premium entirely.
Government guarantee schemes
Schemes such as the First Home Guarantee let eligible buyers purchase with a small deposit while the government guarantees the shortfall — so no LMI is charged. Places, income tests and property price caps apply and change over time.
Professional waivers
Some lenders waive LMI entirely for certain occupations — commonly medical, legal, accounting and some other professions — at up to 90% or even 95% LVR. Which occupations qualify differs by lender, and the list is not advertised.
Family guarantee
A parent or close family member uses equity in their property as additional security, bringing your effective LVR under 80%. It removes LMI but puts the guarantor's property at risk, so it needs careful structuring.
Which of these you actually qualify for depends on the lender. Waiver lists, scheme eligibility and LMI rate tables all differ between lenders and are not published. This is the part a broker earns their keep on — comparing what each lender will actually do for your profile.
Get your exact LMI figure
The estimate above is a range. To get the real number we run your details against the actual lender rate tables — and check whether a waiver or scheme removes the premium altogether. Free, no obligation, we call you back within 12 hours.
LMI questions people actually ask
Does LMI protect me as the borrower?
No. It protects the lender if you default and the property sells for less than what you owe. You pay the premium, but the cover belongs to the lender — and if the insurer pays out, it can still pursue you for the shortfall.
At what LVR does LMI kick in?
Most lenders require it above 80% LVR — that is, when your deposit is under 20% of the property value. The premium rises sharply as LVR climbs, which is why the jump from 90% to 95% costs so much more than the jump from 80% to 85%.
Can I add LMI to my loan instead of paying upfront?
Usually yes — this is called capitalising the premium. You avoid the upfront cash hit, but you pay interest on it for the life of the loan. The calculator above shows both the premium and what it adds to your monthly repayment if capitalised.
If I refinance later, do I pay LMI again?
LMI is not transferable between lenders. If you refinance while still above 80% LVR, the new lender generally charges a fresh premium. Partial refunds on the original policy are sometimes available within the first year or two, but many insurers do not offer them at all.
Why is this a range and not an exact number?
Because insurers do not publish their rate tables. The premium depends on your loan size, LVR, loan term, whether you are an owner-occupier or investor, and your borrower profile — and each lender uses a different insurer or in-house arrangement. Any website quoting a single exact figure is guessing. We get the real number from the lender's own table.
Next: what else do you need upfront?
LMI is one of two big upfront costs. The other is stamp duty — and in NSW, first home buyers can be fully exempt below a threshold. Work out yours before you set your deposit target.
calculateNSW Stamp Duty CalculatorThis calculator provides general information only and produces an estimate, not a quote. It does not take into account your objectives, financial situation or needs. LMI premiums are set by mortgage insurers using confidential rate tables and the actual premium charged may differ materially from the estimate shown. Speak with a qualified mortgage broker before making any decision. Mortgage Bridge does not guarantee loan approval or any particular premium, rate or outcome.