Purchase price: Amount you wish to borrow in $
Down payment: Deposit in percentage (%)
Mortgage term: Your mortgage term in years
Interest rate: Current interest rate in %
Property tax: Enter 0 if unknown
Property insurance: Enter 0 if unknown
PMI: Lenders mortgage insurance % Enter 0 if unknown
First payment date: Start of your mortgage
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Australian banks have compulsory lenders mortgage insurance (LMI) for all borrowers who do not have a 20 % deposit.