Junaid Ally, Ray White Rochedale
How much deposit do I need, and will I pay LMI?
Enter the property price and the deposit you have available. We show your LVR, indicative LMI cost and how much extra you would need to avoid LMI entirely.
Loan needed
$765,000
LVR
90.0%
Estimated LMI
$12,623
Deposit to hit 20%
$85,000
Indicative estimate only, not a loan approval or credit advice. LMI varies by lender. Speak to a licensed broker.
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Related: How much deposit do you need?
Common questions
When do you pay LMI in Australia?
LMI usually applies when your loan is more than 80% of the property value. It protects the lender, not you, and can be capitalised into the loan.
How much deposit do I really need?
A 20% deposit avoids LMI. Many first home buyers proceed with 5 to 10% and either pay LMI or use a government scheme.