CMHC Mortgage Insurance
Calculator
Enter the home price and your down payment. The calculator shows the CMHC premium, any sales tax due at closing, your total mortgage and an estimated monthly payment.
Your CMHC insurance
Premiums follow the published CMHC homeowner table. Your lender confirms the exact premium and may use another insurer. Not mortgage advice. Terms →
Premium at different down payments for this price
| Down payment | Amount | Premium rate | Premium |
|---|
How CMHC mortgage insurance works
If your down payment is less than 20% of the price, your lender requires default insurance. The premium is a percentage of the amount you borrow, and the percentage rises as your down payment shrinks. It is usually added to your mortgage, so you pay interest on it. Provincial sales tax on the premium cannot be added to the mortgage and is due in cash at closing.
| Loan to value | Down payment | Premium on the loan |
|---|---|---|
| 80.01% to 85% | 15% to 19.99% | 2.80% |
| 85.01% to 90% | 10% to 14.99% | 3.10% |
| 90.01% to 95% | 5% to 9.99% | 4.00% |
| 90.01% to 95%, non-traditional down payment | 5% to 9.99% | 4.50% |
Source: CMHC homeowner premium table. Amortizations over 25 years add a 0.20% surcharge. With 20% or more down, insurance is not required on a purchase.
Minimum down payment and price limit
For insured mortgages the minimum down payment is 5% of the first $500,000 of the price and 10% of the portion from $500,000 up to $1,500,000. At $1,500,000 or more you need at least 20% down, and insurance is not available. On a $600,000 home, for example, the minimum is $25,000 plus $10,000, or $35,000.
A worked example: on a $600,000 home with $60,000 down (10%), the loan is $540,000 and the 3.10% premium is $16,740. In Ontario the 8% sales tax on that premium is $1,339, paid in cash at closing. The mortgage becomes $556,740.
What this calculator does not cover
It covers standard purchases of an owner-occupied home. It does not cover premiums for portability or increasing an existing loan, refinancing, rental properties, or other insurers such as Sagen or Canada Guaranty, which may price some cases differently. Your lender confirms the exact premium.
- CMHC: Mortgage Loan Insurance Cost and the CMHC homeowner premium table: the premium tiers, the 0.20% surcharge for amortizations over 25 years, and sales tax in Ontario, Quebec and Saskatchewan.
- CMHC premium calculator page: the $1,500,000 limit and 30-year amortizations for first-time buyers and new builds.
- The sales tax rates on the premium (Ontario 8%, Quebec 9%, Saskatchewan 6%) are from a secondary source (WealthNorth, October 2026). CMHC confirms the tax applies but does not list rates on the pages above.
- The minimum down payment formula follows the federal rule announced in December 2024.
Frequently asked questions
When do I need mortgage default insurance?
When your down payment is less than 20% of the purchase price. With 20% or more down it is not required on a purchase.
How is the premium calculated?
It is a percentage of the loan, not of the home price. At 5% to 9.99% down it is 4.00%, at 10% to 14.99% down it is 3.10% and at 15% to 19.99% down it is 2.80%. A non-traditional down payment at 5% to 9.99% down is 4.50%.
Can I add the premium to my mortgage?
The premium is usually added to the mortgage. Provincial sales tax on the premium, charged in Ontario, Quebec and Saskatchewan, cannot be added and has to be paid in cash when you close.
What is the surcharge for a 30-year amortization?
CMHC adds 0.20% for amortizations longer than 25 years. Thirty-year amortizations are available to first-time buyers and for newly built homes.
What is the most I can pay for an insured home?
Insured mortgages are available for homes under $1,500,000. At $1,500,000 or more you need at least 20% down.
How much do I need as a minimum down payment?
5% of the first $500,000 of the price plus 10% of the part between $500,000 and $1,500,000.