Lenders Mortgage Insurance (LMI) & 5% Deposit Scheme
Estimate LMI premium costs when borrowing over 80% LVR, and see how much you save using the Federal Government's 5% First Home Guarantee (FHG).
Estimate LMI premium costs when borrowing over 80% LVR, and see how much you save using the Federal Government's 5% First Home Guarantee (FHG).
Estimate LMI premium costs when borrowing over 80% LVR, and see how much you save using the Federal Government's 5% First Home Guarantee (FHG). Calculate exact, penny-accurate projections compliant with 2026 ATO • Reserve Bank of Australia (RBA) standards using Calconova's deterministic IEEE-754 (Decimal.js) calculation engine with instant breakdowns.
Adds ~$91.00/month if capitalized into your loan.
LMI = Base Loan × Tiered LMI Rate (1.0% to 4.5% based on LVR)If LVR ≤ 80% or approved under the Home Guarantee Scheme (HGS), LMI is $0.
All calculations, amortizations, and scenario projections displayed on this page are strictly for informational and educational purposes. Nothing herein constitutes investment, financial, tax, or legal advice. Actual ATO tax rates, superannuation rules, RBA cash rates, and lender criteria may vary. Calconova explicitly disclaims all liability for any decisions taken based upon these calculations. Consult an ASIC-licensed financial advisor or CPA prior to executing financial commitments.
LMI is a one-off insurance premium paid by the borrower when buying a property with less than a 20% deposit (LVR > 80%). It protects the lender from financial loss in the event of foreclosure.
Yes, most Australian lenders allow you to add the LMI fee directly to your loan balance so you do not have to pay it upfront in cash, provided your total LVR does not exceed the lender's maximum limit.
You can avoid LMI by saving a 20% deposit, qualifying for the Federal Government's Home Guarantee Scheme (5% deposit with 0% LMI), or using a family guarantor.
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