LMI rates
The table below shows the LMI premium rates offered by one of our lenders for both their full doc (normal loans) and low doc loans. Or alternatively, use our online LMI premium calculator to find an exact premium for your situation.
Information on how to use these LMI rate tables is towards the bottom of this page.
Full Doc (Normal loan) LMI premium rates
| Up to $300K | >$300K – $500K | >$500K – $600K | >$600K – $750K | >$750 – $1M | |
|---|---|---|---|---|---|
| 80.01 – 81% | 0.363% | 0.485% | 0.699% | 0.699% | 0.699% |
| 81.01 – 82% | 0.363% | 0.485% | 0.699% | 0.699% | 0.699% |
| 82.01 – 83% | 0.363% | 0.485% | 0.699% | 0.699% | 0.699% |
| 83.01 – 84% | 0.550% | 0.727% | 0.978% | 0.978% | 0.978% |
| 84.01 – 85% | 0.550% | 0.727% | 0.978% | 0.978% | 0.978% |
| 85.01 – 86% | 0.699% | 0.913% | 1.221% | 1.221% | 1.221% |
| 86.01 – 87% | 0.699% | 0.913% | 1.221% | 1.221% | 1.221% |
| 87.01 – 88% | 0.839% | 1.081% | 1.463% | 1.463% | 1.463% |
| 88.01 – 89% | 0.839% | 1.081% | 1.463% | 1.463% | 1.463% |
| 89.01 – 90% | 0.978% | 1.277% | 1.677% | 1.677% | 1.677% |
| 90.01 – 91% | 1.528% | 2.013% | 3.084% | 3.084% | 3.084% |
| 91.01 – 92% | 1.528% | 2.013% | 3.084% | 3.084% | 3.084% |
| 92.01 – 93% | 1.724% | 2.274% | 3.336% | 3.336% | 3.336% |
| 93.01 – 94% | 1.724% | 2.274% | 3.336% | 3.336% | 3.336% |
| 94.01 – 95% | 1.929% | 2.507% | 3.504% | 3.504% | 3.504% |
| 95.01 – 97% | N/A | N/A | N/A | N/A | N/A |
Low Doc LMI premium rates
| Up to $300K | >$300K – $500K | >$500K – $600K | >$600K – $750K | >$750 – $1M | |
|---|---|---|---|---|---|
| 60.01 – 70% | 0.382% | 0.540% | 1.006% | 1.006% | 1.034% |
| 70.01 – 78% | 0.586% | 0.876% | 1.593% | 1.593% | 2.013% |
| 78.01 – 80% | 0.586% | 0.876% | 1.593% | 1.593% | 2.013% |
| 80.01 – 82% | N/A | N/A | N/A | N/A | N/A |
How to use these tables
These tables are the premium tables used by one of our lenders. They are an example only as LMI Premiums vary between lenders & mortgage insurers.
- If your are applying for a normal loan use the first table, if you are applying for a low doc loan then use the second table.
- Work out what percentage of the property value you are borrowing, this is known as the Loan to Value Ratio (LVR). For example if you were borrowing $90,000 secured by a property worth $100,000 then your LVR is 90%.
- Use the table to find the applicable LMI rate for your LVR (listed on the left hand side of the table) & loan amount (listed at the top of the table).
- To calculate your LMI premium just multiply your LMI rate by your loan amount. For example $90,000 x 0.932% = $838.80.
- This calculator does not take your state’s tax on insurance premiums into account. This can be up to 10% of the premium. If you want to be safe then add 10% to the premium. For example $838.80 + $83.88 = $922.68.
- Having trouble? We suggest that you use our LMI calculator as a guide to find the exact premiums for Genworth, QBE, CBA, NAB, ANZ, Westpac, St George & Suncorp.
How to find the cheapest LMI rate
If you would like to know the cheapest LMI premium available for your loan then please enquire online and one of our mortgage brokers will assess which lenders & LMI products you qualify for and then work out the cheapest possible LMI premium.
About these LMI rate tables
Note: Due to limitations put on us by the banks we cannot publish the names of the banks with their LMI premiums.
The following lenders use lenders mortgage insurance: Adelaide Bank, AIG Financial Solutions, AMP, ANZ, Australian First Mortgage, Australian Secured & Managed Mortgages (ASMM), Australian Unity, Bank of Queensland, BankWest, Better Mortgage Company, Bluestone (Risk fee), Challenger, Citibank, Collins Securities, Commonwealth Bank of Australia (CBA), FirstMac, Heritage Building Society, Homeloans Limited, Homeside Lending, ING Direct, Keystart Home Loans, LaTrobe Home Loans, Liberty Financial , Loan Ave, Mainstream Capital, Merchant Mortgages, MKM Capital (Risk fee), Mortgage Asset Services, National Australia Bank (NAB), Paramount Mortgage Services, Pepper Home Loans, RAMS, St George Bank (StG / SGB), Suncorp Metway, The Rock Building Society and Westpac Bank (WBC).
These LMI premium rate tables are a guide only, you should contact your lender or mortgage broker to find the specific LMI premium for your lender, loan amount and LVR.
