While calculating an upfront fee for a customer looking to borrow $480,000 for a $600,000 property, I found that since the Loan-to-Value Ratio (LVR) exceeds 80%, the client must purchase Lenders Mortgage Insurance (LMI) through the bank. I obtained this information from the Westpac home loan calculator:
https://www.westpac.com.au/personal-banking/home-loans/calculator/stamp-duty-calculator/.

Although handling LMI falls within a broker’s responsibilities, I wanted to highlight this topic, as many clients are unaware of this additional cost.

Key Takeaways on LMI:

• LMI applies if LVR is above 80% – meaning the loan amount exceeds 80% of the total property value.
• LMI is an extra cost and is non-refundable.
• LVR is based on total upfront costs, including stamp duty, not just the property price.
• To determine if LMI applies, use a bank’s calculator or consult a broker.

LMI is designed to protect the lender in case of loan default, and the higher the LVR, the higher the LMI cost.

在为一位客户计算前期费用时，我发现她计划贷款 $480,000 购买 $600,000 的房产。由于 贷款价值比（LVR）超过 80%，客户必须通过银行购买 贷款保险（LMI）。我从 Westpac 房贷计算器 获取了此信息：
https://www.westpac.com.au/personal-banking/home-loans/calculator/stamp-duty-calculator/。

虽然 LMI 的处理属于 贷款经纪人的职责，但我想特别强调这一点，因为许多客户可能不了解这项额外费用。

LMI 关键要点：

• 当 LVR 超过 80% 时，LMI 适用，即贷款金额超过房产总价值的 80%。
• LMI 是额外费用，且不可退还。
• LVR 计算基于总前期成本（包括 印花税），而不仅仅是房产价格。
• 是否需要支付 LMI，可使用银行计算器或咨询贷款经纪人。
• LMI 旨在保护贷款机构，防止贷款违约，且 LVR 越高，LMI 费用越高。