QLD LMI Calculator
Free · No sign-up · Checked 29 September 2026
Your result
You may not need to pay LMI. The 5% Deposit Scheme lets eligible buyers purchase with a 5% deposit and no LMI, up to $1,000,000 in this area. The estimate below is what you would pay without it.
- Loan
- $630,000
- LVR
- 90.0%
Likely LMI
$9,400 to $18,100
Typical lender figure: $12,600
- Duty on LMI in Queensland: 9% of the premium. Lenders' examples do not say whether they include it, so the top of the range adds it.
- LVR after adding LMI to the loan: 91.3% to 92.6%.
- To avoid LMI: add $70,000 to your deposit to reach 20%. Try the home deposit calculator.
Closest published lender figures
Range built from 27 LMI figures published by 8 Australian lenders, checked 29 September 2026. How this is calculated.
Estimate only. General information, not credit or financial advice. Your lender and its insurer set the actual LMI premium.
Buying in another state? Use the LMI calculator for every state.
Queensland also offers eligible first home buyers the first home concession, with no transfer duty on an established home up to $700,000. That changes transfer duty, not LMI.
How much is LMI in QLD?
On a $1,080,142 home in Brisbane with a 10% deposit, published lender figures put LMI at about $14,500 to $27,900, with a typical figure of $19,400. The top of that range includes QLD's 9% duty. $1,080,142 was Brisbane's median dwelling value as at 31 August 2026 (Cotality Home Value Index, published 1 September 2026).
| Deposit | Loan | LVR | Typical LMI | Likely range, top incl 9% duty | With the 5% Deposit Scheme |
|---|---|---|---|---|---|
| 15% | $918,121 | 85.0% | $9,200 | $7,000 to $20,600 | Not available: above the $1,000,000 cap |
| 10% | $972,128 | 90.0% | $19,400 | $14,500 to $27,900 | Not available: above the $1,000,000 cap |
| 5% | $1,026,135 | 95.0% | $43,100 | $30,200 to $58,900 | Not available: above the $1,000,000 cap |
Some of these loans are larger than the $900,000 lenders publish examples for, so treat those rows as a rougher guide.
At $700,000, the scheme cap outside Brisbane, the Gold Coast and the Sunshine Coast, a 5% deposit means LMI of about $19,600 to $38,100 without the scheme, and $0 with it if you are eligible. For every state and deposit, see how much LMI costs.
What duty does QLD charge on LMI?
Queensland charges 9% duty on the LMI premium, including the GST.
The Queensland Revenue Office says the duty is charged on the premium and the GST, because GST is treated as part of the premium. LMI falls in its class 2 general insurance at 9%, and its exemptions page lists no exemption for LMI.
Across the border in NSW, the same premium carries no duty at all. In the calculator, the 9% is added to the top of the range, because lenders' published examples do not say whether they already include it.
Do Queensland first home buyers pay duty on LMI?
Yes, at the same 9%. QRO's class 2 list names insurance relating to a first home mortgage, so a first home loan is not treated differently. We found no first home buyer exemption from duty on LMI in any state; only NSW removes it, and it does so for everyone.
5% Deposit Scheme price caps in QLD
In QLD the 5% Deposit Scheme cap is $1,000,000 in Brisbane, the Gold Coast and the Sunshine Coast, and $700,000 in the rest of the state. The scheme was called the Home Guarantee Scheme until 1 October 2025, and its first home stream is still the First Home Guarantee in the law.
| Area | Cap now | 5% deposit at the cap | 2% deposit at the cap (single parents) | Cap before 1 October 2025 |
|---|---|---|---|---|
| Brisbane, the Gold Coast and the Sunshine Coast | $1,000,000 | $50,000 | $20,000 | $700,000 |
| Rest of Queensland | $700,000 | $35,000 | $14,000 | $550,000 |
Regional centres on the higher cap in QLD: the Gold Coast and the Sunshine Coast.
Both the price and the lender's valuation must be at or under the cap.
The Regional First Home Buyer Guarantee closed to new applicants on 1 October 2025. Regional buyers now use these caps.
What first home buyer help does QLD offer?
Queensland first home buyers can get no transfer duty on an established home up to $700,000, no transfer duty on a brand-new home at any price, and a $30,000 grant on a new home valued under $750,000. None of it reduces LMI or the duty on LMI.
| Help | What it is worth | Value limit | Main conditions | Source |
|---|---|---|---|---|
| First home concession (established homes) | No transfer duty at $700,000 or under; up to $24,525 saved | Home valued under $800,000. Above that, only the home concession applies. | Agreements from 9 June 2024 for the $700,000 threshold; from 1 August 2026 you must be an Australian citizen, permanent resident or specified foreign retiree; you have never held an interest in another home; move in within 1 year of settlement. | QRO, last updated 31 July 2026 |
| First home (new home) concession | No transfer duty | No value cap on the home and its residential land. | Contract dated on or after 1 May 2025; the citizenship rule above; you have never held an interest in another home; move in within 1 year and do not sell or rent out the whole home within a year of moving in. | QRO, last updated 31 July 2026 |
| First home owner grant | $30,000 (contracts signed on or after 20 November 2023) | Home and land valued under $750,000. | Brand-new or substantially renovated home; at least one buyer is an Australian citizen or permanent resident; move in within 1 year and live there for 6 continuous months. You can also claim a transfer duty concession. | QRO grant eligibility, last updated 5 August 2026 |
Eligibility is decided by the revenue office, not by this page. Work out transfer duty with your state revenue office's own calculator.
Low-deposit home loans from the Queensland Government
The Queensland Government's Housing Finance Loan lets you buy or build with a deposit from 2% and no LMI. Your household income must be $141,000 or less, or up to $201,000 in 45 regional council areas under a trial. You must not own another property and must live in the home. Ask the Queensland Government whether the regional trial is still open before you rely on the higher limit. Housing Finance Loan (qld.gov.au)
Where QLD help and the 5% Deposit Scheme overlap
In Queensland, $700,000 is both the no-duty line for an established first home and the scheme cap outside Brisbane, the Gold Coast and the Sunshine Coast.
| Price | QLD transfer duty for first home buyers | 5% Deposit Scheme | LMI below a 20% deposit |
|---|---|---|---|
| Up to $700,000 | None | All of Queensland | None if eligible for the scheme, otherwise applies |
| $700,001 to $799,999 | First home concession reduces it | Brisbane, Gold Coast, Sunshine Coast | None if eligible for the scheme, otherwise applies |
| $800,000 to $1,000,000 | Home concession only | Brisbane, Gold Coast, Sunshine Coast | None if eligible for the scheme, otherwise applies |
| Above $1,000,000 | Home concession only | Not available | Applies |
If the home is brand new, an eligible first home buyer pays no transfer duty at any price. QRO's own examples for an established first home (agreements from 1 August 2026): $650,000, no duty; $730,000, $6,555; $850,000, $24,100 under the home concession only.
Investment loans in restricted Queensland postcodes
QBE caps investment loans in a list of Queensland postcodes at 70% LVR, so LMI from QBE is not available above that. Its LMI Guide names postcodes including 4413, 4415 and 4804; the full list is longer and sits in the guide. For how QBE's cover works, see QBE LMI.
On a $600,000 investment property in one of those postcodes, a QBE-insured loan stops at $420,000. The same home bought to live in could be financed at 90% with LMI, which published lender figures put at about $8,100 to $15,500. Your lender's insurer may be QBE or another insurer with its own rules, so ask before you sign.
QLD LMI calculator FAQs
Is Queensland duty on LMI charged on the GST too?
Yes. QRO treats the GST as part of the premium, so the 9% applies to the premium including GST.
Can I use the QLD first home concession and the 5% Deposit Scheme together?
They are separate. The concession cuts transfer duty and is run by the Queensland Revenue Office; the scheme removes LMI and is run by Housing Australia. Each has its own rules, so check both.
Which Queensland areas share Brisbane's $1 million scheme cap?
The Gold Coast and the Sunshine Coast. The rest of Queensland has a $700,000 cap.
How much is LMI in QLD on a 10% deposit?
On a $700,000 Queensland home with a 10% deposit, published lender figures put LMI at about $9,400 to $18,100. The top of that range includes the 9% Queensland duty.
LMI calculators for other states
Sources
Each source was checked on 29 September 2026.
- QRO: insurance duty rates
- QRO: insurance duty exemptions
- QRO: first home concession
- QRO: first home (new home) concession
- QRO: first home owner grant eligibility
- Queensland Government: Housing Finance Loan
- Queensland Government: Housing Finance Loan regional trial
- 5% Deposit Scheme property price caps (firsthomebuyers.gov.au)
- Housing Australia: higher price caps from 1 October 2025
- QBE: LMI Guide (PDF)
- Cotality Home Value Index, September 2026 (PDF)
- CommBank: published LMI example
- ANZ: published LMI example
- ME Bank: published LMI example
- Keystart: published LMI example
- Great Southern Bank: published LMI example
- Homestar Finance: published LMI example
- loans.com.au: published LMI example
- Credit Union SA: published LMI example
Researched and maintained by
PhD in Financial Studies, 5 years in finance
Every figure on this page comes from a lender, insurer, government or regulator source listed above. Read our editorial policy.