LMI, by the band.
Indicative Lenders Mortgage Insurance for a sub-20% deposit, with the downstream cost of capitalising it into the loan over a 30-year term.
Your purchase
$
$
%
LVR is 90.0% — inside the 85–90% band (1.60% premium). Lifting your deposit by $90,000 would push you below 80% LVR and remove LMI entirely.
LMI premium
↑ 1.60% of $810,000 loan$12,960
LVR
90.0%
Loan incl. LMI
$822,960
Monthly uplift
$79
Premium bands by LVR
| LVR band | Indicative premium | On this loan |
|---|---|---|
| 80–85% | 0.75% | $6,075 |
| 85–90% · you | 1.60% | $12,960 |
| 90–95% | 2.90% | $23,490 |
| 95–100% | 4.00% | $32,400 |
SponsoredSome lenders waive LMI for eligible professionals. A broker can find them.
Talk to a brokerCost of capitalising over 30 years
LMI added to loan
$12,960
Extra monthly repayment
$79
Lifetime extra cost
$28,394
Capitalising LMI rolls it into the principal so you pay it off gradually with interest. Paying upfront avoids the interest cost but ties up the cash at settlement.