LMI Calculator

Lenders mortgage insurance allows you to borrow money from the lender for the purchase of home. You can borrow up to 95 % money of the purchase price of the house from the lenders. In Australia, LMI is provided by Genworth and QBE LMI. This is an online calculator to find the mortgage payment based on the Genworth LMI.

Genworth Lenders Mortgage Insurance Calculator

Lenders mortgage insurance allows you to borrow money from the lender for the purchase of home. You can borrow up to 95 % money of the purchase price of the house from the lenders. In Australia, LMI is provided by Genworth and QBE LMI. This is an online calculator to find the mortgage payment based on the Genworth LMI.

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Formula:

Loan To Value Ratio = ( ( Estimated Property Value - Deposit Amount ) / Estimated Property Value ) * 100

Example

If the estimated value of property is 100000 INR and have deposited 30000 INR.

Loan to Value Ratio = ((100000 - 30000) / 100000) * 100 = 70 %
If you are a new home buyer, then LMI will be 270 Rs.
If you are not a new home buyer, then LMI will be 370 Rs.


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