Mortgage brokers in Norwest, helping the Hills District and Sydney
Free LMI estimate
Estimate your lenders mortgage insurance before you apply. Enter your price and deposit to see your LVR and an indicative LMI range for Sydney and NSW, then have a broker check it.
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Updated November 2026
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Lenders mortgage insurance calculator
This mortgage insurance calculator works out your loan to value ratio (LVR) and an indicative LMI cost. It defaults to NSW and owner occupier loans.
Last updated: November 2026
Your LMI estimate
$16,632 to $17,699
LMI likely applies (LVR above 80%). This is the indicative premium at the 90% LVR band.
As a first home buyer in NSW you may avoid LMI altogether: the 5% Deposit Scheme covers Sydney properties up to $1,500,000 for eligible buyers.
NSW charges no stamp duty on LMI, so this is the whole premium. Owner occupier rates only.
This is an estimate. Your actual premium is set by the LMI insurer and quoted through your lender at application. Based on the QBE LMI rate card published by Bankwest for brokers (effective 1 September 2025) and ANZ LMI waiver fact sheets (August 2024), checked 2 September 2026.
Figures last checked against:
This is an estimate, not financial advice. Results are a guide only. Speak to a broker for accurate figures based on your situation.
Free, no obligation. Your numbers go with your enquiry.
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Working in healthcare, law or accounting? Some lenders waive LMI for eligible professionals, so read our guide to the LMI waiver for professionals before you pay a premium.
Quick answer
It depends on your LVR, your loan size and the insurer your lender uses, and the real premium is quoted by that insurer through your lender when you apply. As a guide, our calculator shows about $16,632 to $17,699 on a $720,000 loan at 90% LVR. Below 80% LVR, most lenders charge no LMI at all.
The formula
The insurer multiplies your loan amount by a premium rate. Five things move that rate, and your LVR moves it the most.
LVR is your loan divided by the property value. Each band up (85%, 90%, 95%) carries a higher rate, so the premium climbs fast as your deposit shrinks.
Insurer rate cards are split by loan size as well as LVR. That is why our dollar range only covers loans of $600,000 to $1,000,000.
Owner occupier and investment loans use different rate tables. Our calculator covers owner occupier loans and sends investors to a broker for a quote.
Lenders use different LMI insurers, and each sets its own rates. The same loan can cost a different premium at two banks.
Some states add stamp duty on top of the LMI premium. The calculator tells you when your state does and leaves it out of the figure.
It may not change the rate, but it opens doors: an eligible first home buyer may skip LMI through the 5% Deposit Scheme.
Want the real premium, not a range?
We get the figure from the lender's insurer and compare it with lenders that may not charge LMI at all for you.
Free. No obligation and no credit check.
Reading your result
The calculator gives one of four answers. Here is what each one tells you, and what to do next.
Your LVR is 80% or below. Most lenders charge no LMI here, so your focus moves to rate, fees and features.
Your loan is $600,000 to $1,000,000 at 80% to 95% LVR. The range comes from an insurer rate card and a lender worked example.
Your loan is outside the sizes our data covers, or it is an investment loan. We will not guess, so a broker gets the quote.
Beyond standard LMI. A government guarantee or a family guarantee may still get you in. Talk to us before you rule it out.
Why your lender's quote can differ
We apply the top of your LVR band, so an LVR of 86% is priced as 90%. Your lender prices your exact LVR with its own insurer, at today's rates, after it has assessed your application. Our figures come from the QBE LMI rate card published by Bankwest for brokers (effective 1 September 2025) and ANZ LMI waiver fact sheets (August 2024).
5.0 from 360+ Google reviewsWorked examples
Four common deposits, run through the same maths as the calculator. These illustrate the estimate; they are not client figures or quotes.
A first home in Western Sydney with an $80,000 deposit. The loan is $720,000.
Right at the top of the 90% band, so the band figure is close to what the insurer will charge.
The same home with a $40,000 deposit. The loan is $760,000.
Halving the deposit roughly doubles the LMI. An eligible first home buyer may avoid it with the 5% Deposit Scheme.
An upgrader putting $150,000 down. The loan is $850,000, an LVR of 85%.
The calculator shows the 90% band as an upper guide. At 85% the real premium is usually lower.
A Hills District family home with a $130,000 deposit. The loan is $1,170,000.
Above the $1,000,000 loan size our data covers, so we route this one to a broker for a lender quote rather than guess.
Capitalising LMI
Often, yes. Many lenders let you capitalise the premium, which means it is added to your loan instead of paid in cash. On a $720,000 loan, adding a premium of about $17,000 lifts the loan to roughly $737,000.
Here is the trade-off to weigh before you choose:
Cut the cost
LMI is not compulsory for everyone. These are the four routes we check first. Our guide on how to avoid LMI in Sydney goes deeper.
At 80% LVR or below, most lenders charge no LMI. Weigh that against how long the extra saving takes.
How to avoid LMI in SydneyEligible first home buyers can buy with 5% down and no LMI, up to the scheme price cap.
Check the 5% Deposit SchemeSome lenders waive LMI for doctors, dentists, nurses and other eligible professionals.
LMI waivers for nursesA parent uses equity in their home as extra security, which can take your LVR out of LMI territory.
Guarantor home loans explainedGoogle reviews
Deposits, the 5% Deposit Scheme and how much to spend. In their own words.
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From 360+ Google reviews
gaurav sood
5 years ago on Google
Sumit joshi is fabulous to deal with .he is very professional he helps me to secure govt 5 percent deposit scheme and help me through the loan process.he was brilliant all the way through ,generous with his time always responsive and hugely insight .i would highly recommend him as a broker .
Rene Rose Mae Tagle
8 months ago on Google
Sumit was instrumental in securing our first home whilst maintaining a constant channel for communication. Very patient with all our queries. He helped navigate the first home buyer provisions available to us and provided us with the product we were after. Can highly recommend.
Praveen Kumar
4 years ago on Google
It has been awesome experience with Sumit for my house loan process. He was helping and guiding me from the last 6-8 months and advising on how much worth I can go for based on the financials. Everything was taken care and discussed over the phone and the loan process and approval was pretty seamless. Highly recommend Sumit and thank you so much in helping for securing our first home.
Alison Tenoria
2 years ago on Google
Sumit was recommended by our best friends and we cannot thank him enough for making our experience as first-home buyers feel effortless. All our questions were answered with patience and we felt supported every step of the way. I highly recommend Sumit for anyone looking for a broker. Thanks again Sumit and to your team :)
Buying in the Hills? Our Norwest office helps first home buyers from Castle Hill to Kellyville work out their deposit, so you can sit down with a mortgage broker in the Hills District before you make an offer.
What to do next
LMI, stamp duty and your borrowing power decide your price range together. Run all three, or start with our home loans overview.
Free LMI check
We generally respond within an hour. Prefer to pick a time? Book your strategy call online.
Sumit Joshi JP
Principal broker, Credit Rep 446824
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“I would like to share the amazing experience I had dealing with Sumit l. He is very knowledgeable and polite. We managed to buy our first home in Sydney. I would highly recommend them.”
Sumit Joshi JP, Credit Rep 446824. AFG Award Winner 2013 to 2019 and AFG Excellence Awards finalist 2022 to 2026. LMI estimates are indicative. The insurer sets the real premium. Prefer to talk first? Book a free strategy call.
