How much is LMI on a typical Ballina home?

On the Ballina median ($850,000) with a 5% deposit, LMI is approximately $30,685. With a 10% deposit it falls to roughly $16,830.

Can Ballina first-home buyers avoid LMI?

Yes — the federal Home Guarantee Scheme allows eligible NSW buyers to settle with a 5% deposit and no LMI, subject to property price caps that change each July.

Is LMI tax-deductible in Ballina?

For owner-occupiers, no. Investors purchasing in Ballina can usually claim LMI as a borrowing expense, deducted over five years or the loan term, whichever is shorter.

LMI in Ballina 2026: how much it costs & how to avoid it

Estimate Lender's Mortgage Insurance for a Ballina home loan in 2026. See LMI on the $850,000 NSW median at 5%, 10% and 15% deposits. Includes ways Ballina firs