LMI Calculator

If you are looking to borrow over 80% of the property value, a Lenders Mortgage Insurance (LMI) premium will be payable. Estimate the LMI premium with the LMI Calculator.

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Upfront LMI
inc. GST
Loan to value ratio
< 80.00%
Stamp Duty Payable
(On LMI)

LMI is not usually payable for a loan to value ratio of 80% or below.

Not all LMI calculations are the same. They vary between lenders based on a number of factors.

Frequently Asked Questions

How does LMI fit into the mortgage?

LMI is capitalised into the mortgage. This means it's added to or 'bundled' into the loan amount. The advantage of this is that you do not have to cover it immediately. Many lenders will let you borrow 90% or 95%, including the LMI.

Will I be approved for a loan with LMI?

If you have an adequate deposit to cover the purchase you are looking for, and you are borrowing within your Borrowing Power, you will have a very good chance of borrowing the amount listed in the calculator. To give yourself the best chance, remember to complete the Borrowing Power calculator in full and ensure you have filled in each expense, debt repayment, and income type into the calculator.

Will I be approved with this LMI added in?

No, additional items need to be considered. Important things such as your income and your deposit or equity position, which can affect your overall borrowing position should be calculated to give you an overall buying position.

The results from this calculator are a general and approximate guide only and do not provide you with personal advice. The calculations used should not be relied upon for the purposes of entering into any legal or financial commitments.

Your next step in getting a better handle on your position should be to build a borrower profile at YouBroker, so we can help you further and then personalise these LMI results to you.

Who receives the LMI premium?

The LMI premium is paid at settlement to the LMI insurer. This is done automatically at settlement. The main ones used in Australia are QBE Insurance and Genworth. A bank or lender will typically use one of these two companies.

Do I need other types of Insurance?

Yes. You will need to insure the building (property) itself with building insurance. This is often referred to as home and contents insurance. If you are buying as an investment property, its wise to consider landlord insurance also.

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For the best, most personalised results please fill in your personal financial information. Lender credit criteria applies, so we want to ensure you qualify for the best home loan based on your personal financial situation. Comparison Rates: Any quoted comparison rate is only true for the example given and may not include all fees and charges. Different terms, loan amounts or fees may result in a different comparison rate. Comparison rates are based on a loan amount of $150,000 over a loan term of 25 years.

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