LMI Calculator
Estimate your Lenders Mortgage Insurance premium based on your property value and deposit. LMI usually applies when you borrow more than 80% of the property's value.
That's a 10.0% deposit
Estimated LMI
$15,480
Loan amount
$720,000
LVR
90.0%
Estimate only — premiums vary by lender, insurer and loan size.
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Book with these numbersYour LVR matters
Loan-to-Value Ratio (LVR) is your loan amount divided by the property value. The higher your LVR, the more LMI typically costs. Getting your deposit to 20% removes LMI entirely — but if that means waiting years, the cost of LMI may be worth paying to buy sooner. A broker can help you weigh it up.
Key terms explained
The main terms used in this calculator and its results.
- Deposit
- The upfront portion of a property's price you pay yourself, with the remainder funded by your home loan.
- Genuine Savings
- Funds you've accumulated or held over time (usually three months or more), which many lenders require to approve a loan with a small deposit.
- Guarantor
- A family member who uses their own property or savings as additional security to help you borrow, often to avoid LMI.
- Lenders Mortgage Insurance (LMI)
- A one-off premium that protects the lender (not you) if you default, typically required when borrowing more than 80% of the property value.
- Loan-to-Value Ratio (LVR)
- Your loan amount expressed as a percentage of the property's value. A lower LVR generally means better rates and no LMI.
Frequently asked questions
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