Lenders Mortgage Insurance or LMI is available on a 95% home loan. It is worth noting, that the cost of the LMI is high at 95% LVR. The rule of thumb cost of the LMI is approximately 1.8% – 2% of the entire loan amount. This cost of the LMI also varies between lenders, hence it is worth looking at the lender with the cheapest LMI.