Lenders mortgage insurance estimator
An indicative range for LMI, and the deposit that would avoid it. Worth knowing before you assume you need to save 20%.
Indicative only. These premium bands are indicative market ranges, not any insurer’s published table. LMI is priced from insurers’ commercial rate tables, which are not public and which individual lenders negotiate their own scales against — so there is no source to check this figure against. Treat it as a rough order of magnitude, and ask for an actual quote before budgeting on it.
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If it isn’t working, call0493 348 998and we’ll run the numbers with you — which is a better answer anyway, because we can use your actual situation.
Indicative LMI premium
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A range, because insurer rate tables are commercial and differ
- Loan-to-value ratio
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- Extra deposit to avoid LMI
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Worth checking for your occupation
You may be eligible. Send me your details and I’ll check it against current lender policy for you.
If a waiver might apply to you, check which ones fit your situation — it is one of the most commonly missed savings in a first purchase.
What the premium does as your deposit shrinks
Nothing until 80%, then a climb that steepens the further past it you go. The dashed rule is where your deposit puts you — and the flat stretch to its left is why a slightly larger deposit sometimes saves far more than it costs.
A calculator can only tell you so much
These figures use general assumptions. What you can actually borrow depends on which lender you go to and how they assess your income — and that varies more than most people expect.