Estimate your Lenders Mortgage Insurance premium based on your deposit size and property value. LMI applies when your deposit is under 20%.
Loan to Value Ratio (LVR)90%
0%80% (no LMI)100%
No LMI required
Your deposit is 20% or more of the purchase price. You do not need to pay Lenders Mortgage Insurance.
Estimated LMI Cost
LMI PremiumApproximate, varies by lender
Total LMI (incl. QLD Stamp Duty)9% QLD stamp duty applied to premium
Tip: LMI can usually be capitalised (added to your loan) rather than paid upfront. This increases your loan balance and total interest paid over the loan term. Ask your lender or broker which option works better for your situation.
Ways to avoid LMI:
Save a 20% deposit
Use a guarantor (family guarantee using parent's equity)
Queensland First Home Guarantee (eligible first home buyers, 5% deposit, no LMI)
Some professions (doctors, lawyers, accountants) qualify for LMI waivers with certain lenders
LMI rates are approximate based on industry averages (Helia/Arch MI). Actual premiums vary by lender, loan type, and insurer. QLD stamp duty on LMI is 9% of the LMI premium. This calculator is a guide only. Source: Queensland Revenue Office.