WA 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 $850,000 in this area. The estimate below is what you would pay without it.
- Loan
- $630,000
- LVR
- 90.0%
Likely LMI
$9,400 to $18,300
Typical lender figure: $12,600
- Duty on LMI in Western Australia: 10% 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.
WA changed its first home buyer rules on 7 May 2026: no transfer duty up to $600,000 and a $10,000 grant on new homes up to $800,000 in Perth. Those change transfer duty and the grant, not LMI.
How much is LMI in WA?
On a $999,987 home in Perth with a 10% deposit, published lender figures put LMI at about $13,400 to $26,100, with a typical figure of $18,000. The top of that range includes WA's 10% duty. $999,987 was Perth'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 10% duty | With the 5% Deposit Scheme |
|---|---|---|---|---|---|
| 15% | $849,989 | 85.0% | $8,500 | $6,500 to $19,300 | Not available: above the $850,000 cap |
| 10% | $899,988 | 90.0% | $18,000 | $13,400 to $26,100 | Not available: above the $850,000 cap |
| 5% | $949,988 | 95.0% | $39,900 | $28,000 to $55,000 | Not available: above the $850,000 cap |
Some of these loans are larger than the $900,000 lenders publish examples for, so treat those rows as a rougher guide.
At $600,000, the scheme cap outside Greater Perth, a 5% deposit means LMI of about $16,800 to $33,000 without the scheme, and $0 with it if you are eligible. For every state and deposit, see how much LMI costs.
What duty does WA charge on LMI?
Western Australia charges 10% duty on the LMI premium, including the GST.
RevenueWA charges 10% of the total premium for general insurance over property in WA, including any GST. Its apportionment fact sheet names mortgage insurance as a class and splits it by where the secured property sits.
South Australia charges 11% on the same premium and NSW nothing. In the calculator, the 10% is added to the top of the range for a WA home.
Is any WA insurance class exempt that would cover LMI?
No. The Duties Act 2008 charges 10% on premiums for general insurance, which covers any insurance over property in WA. LMI is not on the Act's list of excluded insurance, and the only extra class the regulations exclude is employer workers compensation insurance. So a first home loan in WA pays the same 10% on its LMI as any other.
5% Deposit Scheme price caps in WA
In WA the 5% Deposit Scheme cap is $850,000 in Greater Perth, and $600,000 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 |
|---|---|---|---|---|
| Greater Perth | $850,000 | $42,500 | $17,000 | $600,000 |
| Rest of Western Australia | $600,000 | $30,000 | $12,000 | $450,000 |
WA has no regional centre on Perth's cap. The $850,000 cap covers Greater Perth, which includes Mandurah, Pinjarra, Rockingham, Byford and Yanchep. Bunbury, Busselton, Geraldton and Kalgoorlie get $600,000.
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 WA offer?
WA first home buyers can pay no transfer duty up to $600,000 and a reduced rate up to $800,000, and get a $10,000 grant on a new home up to $800,000 south of the 26th parallel. These thresholds rose on 7 May 2026, so older figures you may see are out of date. None of it reduces LMI.
| Help | What it is worth | Value limit | Main conditions | Source |
|---|---|---|---|---|
| First home owner rate of duty | No duty to $600,000; reduced duty to $800,000 | Home: dutiable value up to $800,000 ($16.15 per $100 above $600,000). Vacant land: no duty to $450,000, reduced to $550,000. | Transactions on or after 7 May 2026 (it was $500,000 and $700,000 before). New or established homes both qualify; otherwise follows the grant rules below. | WA Government, updated 27 August 2026 |
| First home owner grant | Up to $10,000 | $800,000 south of the 26th parallel, which includes all of Perth; $1,000,000 north of it (transactions from 7 May 2026). | New or substantially renovated homes only; at least one buyer is an Australian citizen or permanent resident aged 18 or over; each buyer lives there for 6 continuous months, starting within 12 months of completion. | WA Government, updated 29 July 2026 |
Eligibility is decided by the revenue office, not by this page. Work out transfer duty with your state revenue office's own calculator.
Keystart: two WA Government loans with no LMI
Keystart's Low Deposit Home Loan charges no LMI and needs the higher of 2% or $2,000 as a deposit. The price limit is $860,000, and household income must be $155,000 or less for one buyer or $228,000 for two or a family in Perth and regional WA (higher in the Kimberley and Pilbara). Later buyers can apply too, as long as they own no other home or land.
Its Shared Ownership Home Loan also charges no LMI: the Housing Authority owns a share of the home with you, so your loan is smaller. Keystart's product data lists a $720,000 price limit and income limits of $128,000 single and $197,000 for a couple or family. Keystart Low Deposit Home Loan
Where WA help and the 5% Deposit Scheme overlap
In WA the first home duty help and the new grant cap both stop at $800,000 in Perth, while the 5% Deposit Scheme stops at $850,000 in Greater Perth and $600,000 elsewhere.
| Price | WA transfer duty for first home buyers | 5% Deposit Scheme | LMI below a 20% deposit |
|---|---|---|---|
| Up to $600,000 | None | All of WA | None if eligible for the scheme, otherwise applies |
| $600,001 to $800,000 | Reduced rate | Greater Perth | None if eligible for the scheme, otherwise applies |
| $800,001 to $850,000 | Full duty | Greater Perth | None if eligible for the scheme, otherwise applies |
| Above $850,000 | Full duty | Not available | Applies |
Perth's median is above the scheme cap and Keystart's limit
Perth's median dwelling value, $999,987, is above both the $850,000 scheme cap and Keystart's $860,000 price limit. At the median, neither removes LMI, and published lender figures put LMI on a 10% deposit at about $13,400 to $26,100.
At $850,000 with a 5% deposit, an eligible first home buyer in Greater Perth could use the scheme and pay no LMI. Without it, the same loan carries about $23,800 to $46,700.
One trap: Waroona and Boddington are in WA's Peel region, which the old duty rules used, but they are outside Greater Perth, so the scheme's postcode tool gives them the $600,000 cap, not $850,000.
WA LMI calculator FAQs
Did the WA first home buyer rules change in 2026?
Yes. For transactions on or after 7 May 2026, first home buyers pay no transfer duty up to $600,000 and a reduced rate up to $800,000, and the grant cap south of the 26th parallel rose to $800,000.
Does Keystart charge LMI?
No. Both the Low Deposit Home Loan and the Shared Ownership Home Loan are sold with no lenders mortgage insurance.
Is Mandurah on Perth's 5% Deposit Scheme cap?
Yes. Mandurah is in Greater Perth, so it shares the $850,000 cap. Waroona and Boddington, also in the Peel region, get $600,000.
How much is LMI in WA on a 10% deposit?
On a $999,987 Perth home with a 10% deposit, published lender figures put LMI at about $13,400 to $26,100. The top of that range includes the 10% WA duty.
LMI calculators for other states
Sources
Each source was checked on 29 September 2026.
- WA Government: self assess and pay insurance duty
- WA Government: insurance duty apportionment schedule (PDF)
- Duties Act 2008 (WA), ss 209 and 215 (PDF)
- Duties Regulations 2008 (WA), reg 5A (PDF)
- WA Government: first home owner rate of duty
- WA Government: first home owner grant
- WA Government: 2026-27 housing taxation package
- Keystart: Low Deposit Home Loan
- Keystart: Shared Ownership Home Loan
- 5% Deposit Scheme property price caps (firsthomebuyers.gov.au)
- Housing Australia Investment Mandate Direction 2018, compilation of 18 July 2026 (ss 4A, 29F)
- Housing Australia: higher price caps from 1 October 2025
- 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.