Skip to main content
All CollectionsBroker ToolsCalculators
LMI - calculating lender mortgage insurance
LMI - calculating lender mortgage insurance

How to use LMI calculators in broker tools

Dalibor Ivkovic avatar
Written by Dalibor Ivkovic
Updated over a week ago

LMI can be calculated in two tabs in broker tools: Funding worksheet and product comparison tab.

Funding Worksheet tab

LMI calculation (A) can be done for a specific lender by selecting that lender from a drop down menu (B):

Calculated figure (A) can be edited by clicking on the 'Edit' check box (C). If the LMI is capitalised, select 'Capitalise' checkbox (D). 

If LMI is capitalised, total proposed loan will then increase by the LMI amount (E).

Review Loan Product tab

LMI calculation (A) will be presented for each lender selected to review and compare (B).  This value can be edited (C) and capitalised (D) to be included in total loan amount (E)

Top-up Deals

LMI (F) is calculated on total loan amount, which is the sum of existing balance (B) and proposed loan amount (D).

Top up deals might have a LMI previously paid and that figure needs to be included in the Funding Worksheet to get the accurate LMI payable (C), resulting in a new calculated figure (E). 

Did this answer your question?