CALCULATORS
LMI Calculator
Estimate potential Lenders Mortgage Insurance based on your property value and deposit. Then review whether your profession may qualify for an LMI waiver pathway.
Key Takeaway
LMI estimates are indicative only. Eligible professionals may qualify for LMI waivers with certain lenders, subject to profession, income, LVR and lender policy. This calculator is a guide — not a lender decision.
What Is LMI?
Lenders Mortgage Insurance, or LMI, is generally charged when a borrower has a smaller deposit and borrows above a lender’s standard loan-to-value ratio. LMI protects the lender, not the borrower, and can add a significant upfront cost to buying property.
What Is An LMI Waiver?
Some lenders offer professional LMI waiver policies for eligible occupations. These may allow some borrowers to borrow above 80% LVR without paying standard LMI, subject to lender policy, profession, income, loan size, property type and full assessment.
LMI Waivers By Profession
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Doctors
May access specialist LMI waiver policies depending on registration, income and loan structure.
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Dentists
May qualify under professional lending policies where income and registration meet lender requirements.
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Lawyers
May qualify depending on admission, income, employer type and professional membership.
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Accountants
May qualify depending on CPA, CA or IPA membership, income, employment type and lender policy.
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Nurses
Nurse LMI waiver eligibility is lender-dependent and may vary by role, employer, income and application strength.
Disclaimer: LMI estimates are indicative only. LMI and LMI waiver eligibility vary by lender, insurer, profession, loan size, LVR, property type and individual circumstances.
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Frequently Asked Questions
Is the LMI estimate exact?
No. LMI varies by lender, insurer, loan amount, LVR, property type and borrower circumstances.
Can professionals avoid LMI?
Some eligible professionals may qualify for LMI waiver options, subject to lender policy and assessment.
Can nurses get an LMI waiver?
Nurse eligibility is lender-dependent. Some policies may consider certain nursing or medical roles, but this is not guaranteed.
Does LMI protect me?
No. LMI protects the lender if the borrower defaults. It does not protect the borrower.
Can LMI be added to the loan?
Some lenders may allow LMI to be capitalised into the loan, subject to policy and maximum LVR.
Want To Know If You May Qualify For An LMI Waiver?
Book an LMI waiver review and we’ll assess your profession, deposit, loan size, income and lender options.
Calculator results are estimates only and are not loan approvals, quotes or financial advice. Actual results vary by lender, interest rate, fees, loan structure, income, expenses, property type and individual circumstances.