DISCLAIMER: This calculator is intended to provide a general indication of the long-term economic differences
between continuing to rent, saving a 20% deposit and purchasing a home, or purchasing a home now with
less than a 20% deposit if Lenders Mortgage Insurance (LMI) is used. Economic conditions may differ
from the assumptions and your personal circumstances may turn out differently from the outputs of the calculator.
LMI protects the lender against a loss should the borrower default on their home loan and there is a shortfall
following a sale of the security property. The cost of the LMI premium is typically passed on by the lender to
the borrower. LMI should not be mistaken for Mortgage Protection Insurance, which covers a mortgage in the event
of death, sickness, unemployment or disability. The output of the calculator is not an offer to any person to
acquire LMI, credit or any other financial product nor an approval for LMI, credit or any other financial product.
The calculator and the results provided are generic and do not take into account your personal circumstances. The
calculator is a guide only and is not intended to be relied upon for the purposes of making a decision in relation
to credit or a financial product. The user should obtain professional legal, accounting, tax, investment or other
financial specialist advice before making any financial decision.
Except to the extent taken into account in the amounts entered in the ‘Other upfront costs’ section, the calculator
does not take into account any First Home Owners Grant or other concessions, grants or any establishment, maintenance,
discharge or other fees which may be applicable. The calculator assumes that the cost of the LMI premium (if applicable)
is passed on by the lender to the borrower.