How much is LMI on a typical Cairns home?

On the Cairns median ($540,000) with a 5% deposit, LMI is approximately $19,494. With a 10% deposit it falls to roughly $10,692.

Can Cairns first-home buyers avoid LMI?

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

Is LMI tax-deductible in Cairns?

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

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

Estimate Lender's Mortgage Insurance for a Cairns home loan in 2026. See LMI on the $540,000 QLD median at 5%, 10% and 15% deposits. Includes ways Cairns first-