What is Lenders Mortgage Insurance (LMI)?

LMI is a one-off insurance premium that protects the lender if you default on your home loan. It is required when your LVR exceeds 80%.

How much does LMI cost?

LMI costs vary based on the loan amount, LVR, property value and lender. On a $750,000 property with a 10% deposit, LMI could be approximately $15,000 to $25,000.

Can I avoid paying LMI?

Yes. Save a 20% deposit, use a guarantor, qualify for the First Home Guarantee, or be eligible for a professional LMI waiver.

Can LMI be added to the home loan?

Yes, most lenders allow LMI to be capitalised into your loan amount.

Lenders Mortgage Insurance (LMI) Calculator

Chat with our calculator to estimate your LMI cost based on property value and deposit amount. Discover ways to reduce or avoid LMI entirely.

LMI Calculator

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