Lenders Mortgage insurance calculator

Estimate your LMI costs instantly, compare how different deposits affect premiums, and understand the true upfront cost of buying property in Australia.

Performance

Upfront Costs
$0
Duty: $0 | Reg: $0 | Other: $0
Deposit
$0
Deposit %: 0%
Loan Amount
$0
Pre-LMI
Post-LMI: $0
LMI & LVR
$0
LVR: 0%
Effective LMI %: 0%

How this LMI model works

This calculator estimates Lenders Mortgage Insurance (LMI), stamp duty, and loan amounts based on property price, savings, state, first-home-buyer status, and whether you’re buying to live in or invest. It deducts upfront costs from savings to find the deposit, then computes LVR and LMI, which can be capitalised into the loan or paid upfront.

Quick start

  1. Enter savings and property price.
  2. Select your state and first-home-buyer (FHB) status.
  3. Choose live in vs invest.
  4. Pick property type: existing, new, or land.
  5. Adjust LMI capitalisation, insurance duty, and other costs if needed.
  6. Click Calculate (or change any input) to refresh results instantly.

What each control does

  • Savings / Price: Available cash and property cost.
  • State: Determines stamp duty + FHB concessions.
  • FHB status: Unlocks state concessions for owner-occupiers.
  • Purpose: Owner-occupier (eligible for FHB) vs investment.
  • Property type: Existing, new, or land (affects duty).
  • LMI capitalisation: Add to loan vs pay upfront.
  • Other costs: Legal fees, gov. registration, etc.
  • Pro features: Save/export scenarios with Tepuy+.

Behind the math (step by step)

  1. Upfront costs = stamp duty (with FHB concessions) + reg. fees + other costs.
  2. Deposit = savings − upfront costs.
  3. Loan (pre-LMI) = property price − deposit.
  4. LVR = loan ÷ price × 100.
  5. LMI = tiered % of loan + insurance duty.
  6. Loan (post-LMI) = pre-LMI loan + LMI (if capitalised).
  7. Effective LMI % = LMI ÷ pre-LMI loan × 100.

Interpreting the outputs

  • Upfront costs: Duty + reg. + other fees.
  • Savings left: Deposit after upfront costs.
  • Deposit %: Deposit ÷ property price.
  • Loan (pre-LMI): Before adding LMI.
  • LVR: % loan-to-value ratio.
  • LMI premium: Estimated cost of LMI.
  • Loan (post-LMI): If LMI is capitalised.
  • Effective LMI %: LMI ÷ pre-LMI loan × 100.

Worked examples

  • $120k savings, $800k QLD property (existing, non-FHB): Duty = $29,250, reg. = $460, other = $1,500 → upfront costs $31,210. Deposit = $88,790 (11.1%). Loan = $711,210 (LVR 88.9%). LMI ≈ $8,534 (+10% duty). If capitalised, loan = $719,744.

Limitations & assumptions

  • Stamp duty simplified; actual may differ.
  • LMI rates are estimates from typical lender tiers.
  • All figures in AUD.
  • FHB concessions only apply for owner-occupiers.
  • No lender fees or specific loan terms included.

Glossary

  • LMI: Premium when LVR >80%, protecting lender.
  • LVR: Loan ÷ property price (%).
  • Stamp duty: State tax on purchases; FHB exemptions may apply.
  • FHB: First-time owner-occupier buyer with concessions.
  • Capitalise LMI: Add LMI to loan instead of upfront payment.

Related tools

FAQs

  • What is LMI? A one-time premium when LVR exceeds 80%, usually added to the loan.
  • How is stamp duty calculated? By state, property type, price, and FHB status.
  • Can I avoid LMI? Yes, with 20%+ deposit (LVR ≤80%).
  • Is LMI always added to the loan? By default yes, but you can choose to pay upfront.
  • What are government registration fees? Title transfer + mortgage registration; varies by state.

Disclaimer: This tool provides general estimates only and is not financial advice. Tepuy Solutions makes no guarantees as to accuracy. Seek professional guidance. See our full disclaimer.