LMI Calculator — Estimate Your Lenders Mortgage Insurance
See how much LMI you'd pay on a loan over 80% LVR, compare upfront vs capitalised, and learn how to avoid it.
Calculate your LMI estimate
Enter your property and loan details to estimate LMI instantly
Estimated LMI Premium
—
one-off premium
Upfront vs Capitalised comparison
| Pay upfront | Capitalise | |
|---|---|---|
| Cash needed at settlement | — | — |
| Total loan balance | — | — |
| Est. lifetime interest (— p.a., — yrs) | — | — |
Lifetime interest is indicative at 6.55% p.a. P&I for the loan term entered. Actual interest will vary.
Get personalised options (no obligation)
A licensed broker can review your numbers and discuss the best options for your situation.
Frequently asked questions
Common questions about Lenders Mortgage Insurance in Australia
LMI is a one-off insurance premium paid by the borrower that protects the lender (not the borrower) against loss if the borrower defaults. It is typically charged when your deposit is below 20% of the property value (LVR above 80%).
Insurers price LMI from a table based on loan-to-value ratio (LVR) and loan size, with adjustments for first home buyers and investors. This calculator uses rates calibrated to Helia’s public LMI fee estimator (checked 1 October 2026): one-percentage-point LVR bands from 80% to 95%, four loan-size bands, about 10% less for first home buyers and 10% more for investors. Your lender chooses the insurer (Helia, QBE or another), so its premium can differ.
LMI is usually a single upfront premium. You can often capitalise it into the loan (borrow it) instead of paying cash at settlement, but you then pay interest on the premium for the life of the loan.
Increase your deposit to 20% of the property value, use a family guarantor, or check eligibility for government schemes such as the Australian Government 5% Deposit Scheme or Help to Buy, which remove LMI for eligible buyers. The First Home Super Saver (FHSS) scheme can help you save a larger deposit. Some lenders waive LMI for specific professions.
If your new loan is above 80% LVR you will usually pay LMI again on the new loan — the premium is not transferable between insurers. Check LVR carefully before refinancing above 80%.
No. LMI protects the lender if you default. Mortgage protection insurance is a separate, optional product that protects the borrower against income loss, disability or death.
For owner-occupiers, LMI is not tax deductible. For investment properties, LMI may be claimable as a borrowing cost over five years (or loan term if shorter). Speak to a tax adviser.
This calculator is brand-neutral and uses an indicative premium guide. Your lender may use QBE or Helia as their insurer and have their own rate card. Your actual LMI is set by the lender/insurer, not this tool.
LMI Guides
Learn more about Lenders Mortgage Insurance
How to avoid LMI
Strategies to reach 20% deposit faster, use a guarantor, or access government schemes that waive LMI requirements.
Read guide →Capitalised LMI explained
What happens when you add LMI to your loan, how it affects repayments, and when it makes sense to capitalise vs pay upfront.
Read guide →LMI for first home buyers
How first home buyers can reduce or avoid LMI through the 5% Deposit Scheme, Help to Buy and other government schemes.
Read guide →LMI on investment properties
Why LMI costs more on investment loans, tax deductibility, and strategies for investors borrowing above 80% LVR.
Read guide →LMI when refinancing
When refinancing triggers a new LMI charge, how LMI is not portable between lenders, and how to avoid paying it twice.
Read guide →LMI Calculator Guide
How to use this calculator, understand LVR bands, premium tables, and compare LMI estimates with your lender's quote.
Read guide →