Your loan-to-value ratio and an estimate of lenders mortgage insurance, the premium many first home buyers never pay.
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Loan-to-value ratio, the number lenders price everything off.
Above 80%, lenders mortgage insurance usually applies. The 5% Deposit Scheme or a family guarantee may remove it.
Indicative only, lenders measure against their valuation, not the price.
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Usually, if your loan is more than 80 per cent of the property’s value. The calculator shows your loan-to-value ratio and an indicative premium; the real figure depends on the lender and insurer.
Eligible first home buyers avoid it through the 5% Deposit Scheme, and others with a family guarantee or a professional waiver.
Part of the no LMI home loans for professionals guide.
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A rough guide to lenders mortgage insurance below a 20% deposit.
Above 80%, mortgage insurance usually applies, and the premium varies by lender and insurer. Eligible first home buyers may avoid it entirely through the Australian Government 5% Deposit Scheme, or with a family guarantee.
A broad ballpark only, real premiums vary by insurer, lender and loan size, and can usually be added to the loan. Eligible first home buyers may avoid LMI entirely under the 5% deposit scheme. Not credit advice.
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An estimate, not credit advice. Real lender policy, applied by a broker, usually moves this figure. No credit check. No obligation. Your details are never sold.
Loan-to-value ratio: the loan amount divided by the lender's valuation of the property. It is the single number lenders price everything off, and it is measured against their valuation, not the price you agreed.
Above 80% LVR most lenders require it, and the premium rises in bands as the ratio climbs. At or under 80% most lenders do not require it, though a few still do in particular circumstances.
Our guide to what lenders mortgage insurance is covers who it protects and how the premium is paid.
Often one to two per cent of the loan at a 90 per cent loan-to-value ratio, and more at 95 per cent; it depends on how much of the price you borrow, and each insurer and lender prices it differently.
On this page’s broad estimate for an $800,000 purchase, the premium is about $5,440 with a 15 per cent deposit (85 per cent LVR), about $11,520 with 10 per cent (90 per cent LVR) and about $22,800 with 5 per cent (95 per cent LVR).
At 80 per cent or below, most lenders charge none. The premium can usually be added to the loan, and eligible first home buyers can avoid it altogether under the Australian Government 5% Deposit Scheme.
Sometimes. Eligible first home buyers can use the government 5% Deposit Scheme, a family guarantee can remove it entirely, and some professions have waived-LMI policies.
No, it is a broad indication. Every insurer and lender prices its own way, and the same ratio can cost quite different amounts, which is exactly why the lender comparison matters.
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Estimates only, not credit or financial advice. Calculators use general assumptions; lender policy, rates and your own position are confirmed in a full assessment.
Official sources for the figures on this page: Moneysmart (ASIC), lenders mortgage insurance. Scheme rules change; the official pages are the final word. Checked against these sources on 12 October 2026.
