LMI Calculator — New South Wales (NSW)
Calculate your Lenders Mortgage Insurance (LMI) cost for properties in NSW. LMI applies when you borrow more than 80% of the property value.
🏠 NSW first home buyers: Check if you qualify for the First Home Buyer Assistance Scheme (stamp duty exemptions up to $800k). Use our Stamp Duty Calculator.
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How LMI works in NSW
LMI in New South Wales works the same as other states — it protects the lender if you default. You pay it when borrowing more than 80% LVR.
NSW-specific considerations
- First Home Buyer Assistance: Stamp duty exemptions for properties up to $800k (full), reduced up to $1M
- First Home Buyer Choice: Option to pay annual property tax instead of stamp duty
- Average Sydney property price: ~$1.15M (March 2026)
- Regional NSW: Significantly cheaper (~$600-800k average)
How much is LMI in NSW?
- 5% deposit ($950k property): ~$31,000 LMI
- 10% deposit ($950k property): ~$18,000 LMI
- 15% deposit ($950k property): ~$9,000 LMI
- 20% deposit: $0 LMI
How to avoid LMI in NSW
- Save a 20% deposit
- First Home Loan Deposit Scheme (5% deposit, no LMI)
- Family guarantee
- Professional LMI waivers