How much is the LMI premium?

The LMI premium varies between lenders and it is usually an amount in the hundreds to the thousands of dollars. The higher the percentage you need to borrow (e.g. 95% of the property value), the higher the premium.

The LMI premium may also vary depending on whether your deposit consists of your own savings or has come from other sources, such as a gift.

You’ll receive an accurate LMI quote once you’ve selected your property and your lender and your LMI premium will be included in your Mates Rates quote.