CMHC Mortgage Insurance Calculator

See your exact CMHC premium and how it changes your monthly payment.

How CMHC insurance works

  • 5–9.99% down: 4.00% premium on the loan amount
  • 10–14.99% down: 3.10% premium on the loan amount
  • 15–19.99% down: 2.80% premium on the loan amount
  • 20%+ down: no CMHC insurance required

Your purchase details

10.0% of home price · Minimum required: $35,000

25 years is the standard limit on insured mortgages.

Your CMHC premium
$16,740
At 3.10% of the loan amount

Mortgage breakdown

Home price$600,000
Down payment ($)−$60,000
Base loan amount$540,000
CMHC premium added to mortgage+$16,740
Total insured mortgage$556,740

Monthly payment impact

Monthly payment (with premium)$3,419
Extra each month from premium+$103 / mo

Principal + interest only. Property tax, heat, and condo fees are added separately.

To avoid CMHC insurance entirely, put down at least 20% of the home price. On a $600,000 home, that's $120,000.

About CMHC mortgage insurance

CMHC (Canada Mortgage and Housing Corporation) insurance is mandatory mortgage default insurance for any home purchase with less than 20% down. The premium is paid by the borrower but added to the mortgage principal and amortized over the life of the loan - you don't pay it upfront.

The premium protects the lender (not you) in case of default. Because the lender's risk is reduced, you qualify for a mortgage you otherwise couldn't - that's the trade-off. CMHC also offers other approved insurers like Sagen and Canada Guaranty; rates are identical.

In Ontario, Manitoba, Quebec, and Saskatchewan, you also pay 8% PST on the CMHC premium itself (collected at closing, not added to the mortgage). Plan accordingly.

Premium tiers (2026)

  • 5% to 9.99% down → 4.00% of loan amount
  • 10% to 14.99% down → 3.10% of loan amount
  • 15% to 19.99% down → 2.80% of loan amount
  • 20%+ down → no CMHC insurance required

Quebec-specific: PST on the premium

In Quebec, the 9.975% provincial sales tax (TVQ) is charged on the CMHC premium and paid at closing - not added to the mortgage. On a $24,000 premium, that's another $2,394 due upfront. Quebec, Ontario, Manitoba, and Saskatchewan all charge this PST.

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Frequently Asked Questions

Last updated: July 2026

CMHC (or equivalent private insurer) insurance is mandatory whenever your down payment is less than 20% of the home's purchase price. With 20% or more down, your mortgage is "uninsured" and no premium applies. This rule applies regardless of lender — it's federal regulation, not lender preference.

The premium is a percentage of the loan amount based on your down payment: 4.00% if you put down 5–9.99%, 3.10% if 10–14.99%, and 2.80% if 15–19.99%. On a $500,000 loan with 5% down, the CMHC premium is $20,000 ($500,000 × 4.00%), which is added to the mortgage and amortized over the loan term.

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Educational tool - estimates only. Not individualized financial, investment, tax, or legal advice. Using it does not create an advisor-client relationship. Rules and figures change; verify against current CRA sources and consult a qualified professional. Editorial policy →