⚠ Important — LMI is an estimate guide only

Lenders Mortgage Insurance (LMI) premiums are not a fixed or legislated rate. They are set by the mortgage insurer (such as Helia or QBE) and your lender, based on your loan amount, loan-to-value ratio (LVR), loan type, employment and other factors. This tool calculates your LVR and indicates whether LMI is likely to apply — it does not quote an exact premium.

For an indicative premium, use the official Helia LMI Fee Estimator, or contact us for a precise figure from your chosen lender.

Last updated: 2 June 2026. Mortgage & Finance Advisory (Credit Representative 575841 of Connective Credit Services Pty Ltd, ACL 389328) provides this tool as a general guide only and accepts no liability for reliance on these figures.

LMI Calculator

Enter your details below

Property Purchase Price

Loan Amount

State / Territory

Buyer Type

First Home Buyer (eligible for concessions)

Estimated LMI Premium

LVR Percentage

Loan-to-Value Ratio (LVR)

Low Risk - LMI may be avoidable with larger deposit

Tips to Avoid or Reduce LMI

Increase your deposit (aim for 20%+ LVR)
Consider a guarantor for additional security
First home buyer programs may offer exemptions
Explore low-deposit specialist lenders
LMI can sometimes be capitalised into the loan

LMI by LVR Band

LVR Band	LMI Rate	Estimated Premium

How it works

LMI (Lenders Mortgage Insurance) protects lenders when you borrow more than 80% of the property value.

The calculator shows estimated LMI premiums based on your LVR and state, with typical rates for Australian lenders.

Quick Tip

First home buyer schemes can sometimes waive or reduce LMI. Check with your state government for current programs.

Features

LVR risk indicators
State-based rates
First home buyer support
Buyer type options
Visual LVR gauge

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Important Disclaimer & Assumptions

Assumptions: LMI premiums shown are estimates based on typical industry rates. Actual LMI costs vary significantly between insurers (Genworth/QBE/Helia) and lenders. Some lenders include LMI in the loan; others require upfront payment. First home buyer concessions are approximate.

General Disclaimer: This calculator is provided by Mortgage & Finance Advisory (Credit Representative 575841 of Connective Credit Services Pty Ltd, Australian Credit Licence 389328) for illustrative and educational purposes only. Results are estimates based on the information you provide and the assumptions listed above. They do not constitute financial advice, a loan offer, or a guarantee of any outcome.

Actual loan terms, interest rates, fees, government charges, and eligibility criteria will vary between lenders and depend on your individual circumstances. Interest rates used are for comparison purposes only and may not reflect current market rates.

We recommend seeking independent financial, legal, and tax advice before making any financial decisions. For personalised advice tailored to your situation, please book a free strategy call with our team.

Frequently Asked Questions

What is Lenders Mortgage Insurance (LMI)?+

LMI is insurance that protects the lender if you default on your home loan. It's typically required when you borrow more than 80% of the property value (i.e., have less than a 20% deposit). The cost is usually added to your loan amount.

How much does LMI cost in Australia?+

LMI costs vary based on your loan amount and LVR (Loan to Value Ratio). For a $500,000 property with a 10% deposit, LMI could cost $8,000-$15,000. The higher your LVR, the more expensive LMI becomes.

Can I avoid paying LMI?+

You can avoid LMI by saving a 20% deposit, using a guarantor (family guarantee), qualifying for the First Home Guarantee scheme, or choosing a lender that offers LMI-free loans for certain professionals like doctors and lawyers.