How much is LMI on a typical Devonport home?

On the Devonport median ($460,000) with a 5% deposit, LMI is approximately $16,606. With a 10% deposit it falls to roughly $9,108.

Can Devonport first-home buyers avoid LMI?

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

Is LMI tax-deductible in Devonport?

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

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

Estimate Lender's Mortgage Insurance for a Devonport home loan in 2026. See LMI on the $460,000 TAS median at 5%, 10% and 15% deposits. Includes ways Devonport