HomeLoansCalculator.au

LMI and LVR Calculator

Lenders mortgage insurance (LMI) usually applies when you borrow more than 80% of the property value. It protects the lender, not you.

Enter the property value and your deposit to see your loan to value ratio (LVR) and the deposit needed to reach 80%. If your lender has quoted an LMI premium, you can see what adding it to the loan would cost.

Rates checked on

Rates checked on 

The price, or the lender's valuation if it is lower.

Use 0 if you don't have a quote. We don't estimate LMI.

Used only to show the cost of adding LMI to the loan.

Loan to value ratio (LVR)
90.0%
Loan amount
$630,000
Above 80%?
Yes: LMI usually applies
Deposit needed for 80% LVR
$140,000
Loan at 80% LVR
$560,000

Ask your lender for the LMI cost.

Eligible first home buyers may be able to borrow up to 95% without LMI under the Australian Government 5% Deposit Scheme, if the price is under the cap for the area. Check eligibility with Housing Australia.

This is an estimate based on the numbers you entered and the assumptions listed below. It isn't an offer of credit or an assessment of what a lender will approve. Figures checked on 29 October 2026.

Read the guide: Lenders mortgage insurance (LMI): when it applies

How it works

LVR is the loan amount divided by the property value. The loan amount is the value minus your deposit.

The deposit for 80% LVR is 20% of the value, and the loan at 80% is 80% of the value.

If you enter a premium and it is added to the loan, we show the new LVR, the extra monthly repayment on the premium and the interest it would add over the term.

Assumptions

  • We never estimate an LMI premium. There is no official premium table and each insurer and lender prices it differently. Ask your lender for the LMI cost.
  • Lenders use their own valuation, which can be lower than the price. Use the lower figure if you know it.
  • Your deposit here is cash towards the price. Stamp duty and other buying costs also need money, so you may need more saved.
  • The 5% Deposit Scheme has eligibility rules and property price caps by area. Check them with Housing Australia.

Questions people ask

When does LMI apply?

Usually when you borrow more than 80% of the property value. Some lenders waive it for some professions or schemes.

Can I avoid LMI with a smaller deposit?

Eligible first home buyers may buy with a 5% deposit and no LMI under the Australian Government 5% Deposit Scheme, or 2% for eligible single parents. Price caps apply.

Is it better to pay LMI upfront or add it to the loan?

Adding it to the loan means paying interest on it for the whole term. This calculator shows that cost so you can compare. It is your decision, and a lender or licensed adviser can explain the options.

Sources

Checked 29 October 2026. Official pages can change; check them before you rely on a figure.