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Lenders Mortgage Insurance Calculator

Find out the LMI fees on your loan amount today!

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Lenders Mortgage Insurance, or LMI, is a one-time fee that your lender may require you to cover if your deposit is less than 20% of the property price. Please use our calculator below to get a picture of what the LMI cost can look like for you.

Calculate Your LMI Fees:

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The results provided by this calculator are for indicative purposes only and are based on the information you have provided. They do not constitute financial advice, a loan offer, or a guarantee of approval. Loan eligibility is subject to lender assessment, credit checks, and other conditions. We recommend consulting with a licensed financial advisor or mortgage broker before making any financial decisions.

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LMI is calculated based on the property price, the loan amount, the deposit you have, and the LVR (Loan-to-value ratio). The more your deposit amount is less than 20% of the property price or the more your LVR is greater than 80% of the property price, the more LMI fees you pay.

How is LMI calculated?

If you qualify for a waived LMI home loan, which is extended to people with a guarantor or who are from a specific profession, then you can avoid paying LMI fees and save thousands of dollars. Alternatively, you can always save more so you can pay for the 20% deposit.

How to receive an LMI waiver?

Taking your first step to owning a home? Fill our consultation form today and our mortgage team will help you throughout your home owning journey (yes, even post-settlement!).

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Select Loan & Mortgage is a one-stop solution for home loan consulting services in Australia. 

ABN: 86 680 285 143

ACN: 680 285 143

Address: Level 10, 90 King William Street Adelaide SA 5000

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Select Loan and Mortgage Pty Ltd | Credit Representative Number 563198 is authorized under Australian Credit License 389328 | 86 680 285 143 |

This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.