Disclaimer

The calculators, guides and tables on lmicalculator.com.au (the “Site”) are general information only. They help Australian home buyers, refinancers and investors understand how lenders mortgage insurance (LMI) works, roughly what it costs, and whether a government scheme or a lender waiver could remove it.

Nothing on the Site takes into account your objectives, financial situation or needs. It is not credit assistance, financial product advice, tax advice or legal advice, and nothing on it recommends a lender, a loan or an insurer. Your use of the Site is also governed by our terms of use.

No LMI insurer publishes its full price list, so no website can calculate your exact premium. Our LMI figures are ranges built from examples that lenders publish themselves, some of them several years old. Your lender and its LMI insurer set the actual premium, and it can fall outside our range. A lender can also decline a loan or apply different rules. How the estimate is built is set out in how LMI is calculated.

We check every figure against its source and date it. Even so:

• Government schemes, property price caps, stamp duty rates, tax rules and lender policies change, sometimes without notice. There can be a gap between a change and our update.
• Your lender, your LMI insurer and your own circumstances (income type, credit history, property type, location) can change the result.
• Some situations need individual review: self-employed income, guarantor loans, construction loans, investment properties held in trusts or companies, and refinances with existing LMI.
• Calculator results are estimates rounded to a sensible precision, not figures from a loan application.

We do not promise that any result is accurate, current or complete for your circumstances. Check it before you act.

For binding rules, rates and eligibility, go to the primary source:

• firsthomebuyers.gov.au for the 5% Deposit Scheme and the Family Home Guarantee, which Housing Australia administers, including price caps and participating lenders.
• Your state or territory revenue office for stamp duty, first home buyer concessions and duty on insurance premiums.
• The Australian Taxation Office for the tax treatment of LMI on investment loans.
• Your lender, for its own LMI premium, waiver eligibility and lending policy.

If you need a definite answer about your own loan, speak to:

• your lender, which can quote the actual LMI premium for your loan;
• a mortgage broker who holds an Australian credit licence or is an authorised credit representative. You can check either on ASIC's professional registers;
• a financial adviser listed on the financial advisers register;
• a registered tax agent for tax questions.

If you have a complaint about a lender, broker or insurer that they have not resolved, the Australian Financial Complaints Authority (AFCA) is free for consumers: afca.org.au or 1800 931 678.

LMI Calculator Australia is not affiliated with, or endorsed by, any lender, LMI insurer, broker or government agency. Lender and insurer names are used only to identify the source of a figure or a rule.

We link to lenders, insurers and government websites so you can check our sources. We do not control or endorse those sites and are not responsible for their content, accuracy or availability.

The Site carries no advertising, no sponsored placements and no affiliate links. It collects no enquiries and earns no commission from lenders, brokers or insurers. If that changes, this disclaimer will say so first.

To the extent the law allows, the operator of LMI Calculator Australia and its contributors are not liable for any loss, damage or cost (including indirect or consequential loss) suffered by anyone as a result of using, or relying on, anything on the Site.

Nothing in this disclaimer excludes any right you have under the Australian Consumer Law that cannot be excluded. Where the law lets us restrict our liability for breaching such a guarantee, we restrict it, at our option, to supplying the content again or paying the cost of having it supplied again.

We may update this disclaimer. The current version is always the one at this address, and the date at the top shows when it last changed.

Think a figure or a result is wrong? Tell us at hello@lmicalculator.com.au and we will check it against its source. Corrections are welcomed and acted on quickly.