Free Calculator · 2026 Rates

LMI Calculator — Lenders Mortgage Insurance

Calculate your LMI cost instantly based on Helia and QBE indicative premium rates. See whether you qualify for an LMI waiver — and how much you could save.

✓ Helia & QBE indicative rates ✓ Owner-occupier & investor ✓ LMI waiver checker

Enter Your Loan Details

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Loan-to-Value Ratio (LVR)
85.0% LMI required above 80%

Indicative estimates only. Actual LMI set by your lender's insurer (Helia or QBE).

Estimated LMI Premium
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Enter loan details to calculate
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Cost Breakdown

Property Value—
Deposit / Equity—
Loan Amount—
LVR—
LMI Premium (base)—
Stamp Duty on LMI (est. ~9%)—
Total LMI Payable—
If capitalised into loan — extra interest (30yr @ 6.2%)—

Could you qualify for $0 LMI?

Certain professionals and FHB scheme applicants can borrow up to 90–95% LVR with no LMI. Our brokers check your eligibility for free.

Check My Eligibility →

Who Can Get an LMI Waiver?

Certain professionals and government scheme participants can borrow above 80% LVR without paying LMI — saving up to $40,000 or more.

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Doctors & Medical
AHPRA-registered doctors, dentists, surgeons and specialists. Most lenders offer LMI waiver up to 90–100% LVR.
Up to 100% LVR
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Nurses & Midwives
APHRA registered nurses and midwives. Select lenders offer LMI waiver up to 90% LVR, min. income ~$90k.
Up to 90% LVR
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Lawyers & Barristers
Admitted solicitors and barristers. LMI waivers available up to 90% LVR with select lenders.
Up to 90% LVR
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Accountants (CA / CPA)
Chartered or Certified Practising Accountants. LMI waivers available at select lenders up to 90% LVR.
Up to 90% LVR
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Engineers (CPEng)
Engineers Australia CPEng members. LMI waiver available at select lenders, income criteria applies.
Up to 90% LVR
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First Home Guarantee
Federal government scheme — eligible FHBs can buy with 5% deposit and NO LMI, expanded to all FHBs from Oct 2025.
No income cap (from Oct 2025)

* LMI waiver eligibility criteria vary by lender. Income thresholds, minimum loan amounts and APRA/association membership requirements apply. Talk to our brokers to confirm your eligibility.

Indicative LMI Premium Rates by LVR (Owner-Occupier, P&I)

Rates based on Helia/QBE indicative premiums. Actual LMI is set by your lender's insurer and varies by loan profile. Stamp duty on LMI (~9%) is additional.

LVR Band Up to $300k $300k–$500k $500k–$750k $750k–$1M $1M–$1.5M $1.5M+
≤ 80%$0$0$0$0$0$0
80.01–85%0.57%0.69%0.97%0.97%1.15%1.18%
85.01–90%1.24%1.43%1.83%1.98%2.20%2.34%
90.01–92%1.85%2.03%2.35%2.50%2.62%2.78%
92.01–95%2.48%2.88%3.29%3.46%3.66%3.88%
95.01%+3.11%3.52%4.04%4.24%4.44%—

Rates are indicative and based on publicly available Helia/QBE premium schedules. Investment loans are approximately 15–20% higher. Interest-only loans attract an additional loading. Actual premiums are determined by your lender's insurer at time of application.

Related Calculators

LMI is just one part of your upfront costs — plan the full picture.

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Borrowing Power
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Stamp duty is the other major upfront cost — calculate it here
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Mortgage Repayments
If LMI is capitalised, see the impact on your monthly repayment
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Extra Repayments
Pay down capitalised LMI faster with extra repayments

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Eight free tools to plan every aspect of your home loan.

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LMI Calculator
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Extra Repayments
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Offset Account
Offset savings impact
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LMI Frequently Asked Questions

LMI is insurance that protects the lender — not you — if you default on your home loan and the property sale doesn't cover the outstanding balance. It is required when your deposit is less than 20% of the property value (LVR above 80%). Despite protecting the lender, you as the borrower pay the one-off LMI premium at settlement. The two main LMI providers in Australia are Helia (formerly Genworth) and QBE.
LMI costs approximately 0.5% to 4% of the loan amount depending on your LVR and loan size. At 85% LVR on a $600,000 loan, LMI is roughly $8,000–$12,000. At 95% LVR on the same loan, it can exceed $18,000–$22,000. Investment loans attract a premium approximately 15–20% higher than owner-occupier rates. Interest-only loans also attract an additional loading.
Yes — there are four main ways to avoid LMI: (1) Save a 20% deposit to bring your LVR to 80% or below; (2) Use a guarantor loan, where a family member's property acts as additional security; (3) Apply via the Federal Government's First Home Guarantee scheme — expanded in October 2025 to all eligible first home buyers with no income cap, allowing 5% deposit loans with no LMI; or (4) Qualify for a professional LMI waiver — see our No LMI Professionals Guide if you're a doctor, nurse, lawyer, accountant, engineer or other eligible profession.
Yes — the most common option is to capitalise LMI into your loan balance. Your lender does this automatically, increasing your loan amount by the LMI premium. This means you pay interest on the LMI cost over the life of the loan — which can add significantly to the total cost. Alternatively, you can pay LMI as a lump sum upfront at settlement, which is cheaper overall but requires more cash available at settlement.
LMI is tax deductible for investment properties as a borrowing expense, claimable over five years (or the loan term if shorter). For owner-occupied properties, LMI is not tax deductible. If you later convert your owner-occupied property to a rental, you can claim the remaining LMI for the period it is rented out. Always confirm with your accountant for advice specific to your situation.