LMI Calculator (2026)

The total amount you plan to borrow from the lender. This is typically the property price minus your deposit.

The purchase price or current market valuation of the property. This is used to calculate your Loan-to-Value Ratio (LVR).

Owner-occupiers typically pay lower LMI premiums than investors, as they represent lower risk to lenders.

Different property types have different LMI rates. Houses typically have the lowest rates, while vacant land has the highest due to increased risk.

State where the property is located. State governments levy additional fees on LMI premiums, typically around 0.4% of the premium amount.

Joint borrowers may qualify for slightly lower LMI rates as they represent reduced risk with multiple income sources.

First home buyers may qualify for LMI discounts of up to 10% with certain lenders, helping reduce the overall cost of home ownership.

Capitalising adds the LMI cost to your loan (paying interest on it), while upfront payment requires cash at settlement. Capitalising is more common but costs more over time.

Your mortgage interest rate used to calculate monthly repayments and the total interest impact of capitalised LMI over the loan term.

The length of your mortgage term in years. Longer terms mean lower monthly payments but higher total interest costs, especially when LMI is capitalised.