CMHC Mortgage Insurance Calculator
The mortgage default insurance premium on a home bought with less than 20% down, with the 30-year surcharge and the provincial sales tax due at closing.
Result
Insurance premium, added to the mortgage: CA$19,000.00Estimate
Sagen and Canada Guaranty also insure mortgages, at similar but not identical rates.
- Sales tax on the premium, paid at closing
- CA$1,520.00Estimate
- Mortgage including the premium
- CA$494,000.00Estimate
- Premium rate
- 4%
- Loan-to-value
- 95%
- Minimum down payment for this price
- CA$25,000.00Estimate
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Results are arithmetic from the figures you enter, not legal, tax, lending or settlement advice. Fees vary by state, lender and negotiation, and the site quotes none of them. Check your Loan Estimate, Closing Disclosure or settlement statement for the real numbers. Read the full disclaimer
How to use the CMHC Mortgage Insurance Calculator
- Enter the purchase price and your down payment.
- Pick the amortization. 30 years is open to first-time buyers and buyers of new builds.
- Pick your province, since three provinces charge sales tax on the premium.
- Read the premium, the sales tax due at closing and the mortgage including the premium.
The calculation
The premium is one percentage of the whole loan. The percentage depends on how much of the price you are borrowing.
loan = price − down paymentloan-to-value = loan ÷ pricepremium = loan × rate for that band (+ 0.20% over 25 years)mortgage = loan + premiumsales tax = premium × provincial rate, paid at closingThe rates are CMHC’s. Sagen and Canada Guaranty, the other two mortgage insurers, publish similar schedules.
With your numbers
- The premium is a percentage of the whole loan, set by the loan-to-value band
- It is usually added to the mortgage; any sales tax on it is paid at closing
Quick reference
Sagen and Canada Guaranty also insure mortgages, at similar but not identical rates.
| Example | Insurance premium, added to the mortgage |
|---|---|
| $500,000, 5% down, Ontario | CA$19,000.00 |
| $500,000, 5% down, 30 years | CA$19,950.00 |
| $800,000, 10% down | CA$22,320.00 |
| $600,000, 15% down, Quebec | CA$14,280.00 |
| $400,000, 20% down | CA$0.00 |
| $1,200,000, 10% down | CA$33,480.00 |
Where the numbers come from
The fixed figures this calculator relies on, and the published source each one was checked against. How the calculators are built and checked
7 sources
CMHC, Premium information for homeowner and small rental loans, https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/mortgage-loan-insurance/mortgage-loan-insurance-homeownership-programs/premium-information-for-homeowner-and-small-rental-loans
Used for
- CMHC premium on the loan, loan-to-value up to 65%.
- CMHC premium on the loan, loan-to-value up to 75%.
- CMHC premium on the loan, loan-to-value up to 80%.
- CMHC premium on the loan, loan-to-value up to 85%.
- CMHC premium on the loan, loan-to-value up to 90%.
- CMHC premium on the loan, loan-to-value up to 95%.
- CMHC premium for 90.01% to 95% loan-to-value with a non-traditional down payment.
CMHC, Premium information for homeowner and small rental loans, https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/mortgage-loan-insurance/mortgage-loan-insurance-homeownership-programs/premium-information-for-homeowner-and-small-rental-loans: "An amortization period beyond 25 years is subject to a 0.20% surcharge"
Used for
- CMHC surcharge for an amortization beyond 25 years.
Department of Finance Canada, mortgage reforms effective 15 December 2024
Used for
- Most a home can cost and still be bought with an insured mortgage (from 15 December 2024).
Ontario, Retail sales tax on insurance and benefits plans, https://www.ontario.ca/document/retail-sales-tax/insurance-and-benefits-plans: "eight per cent"
Used for
- Ontario retail sales tax on mortgage insurance premiums.
Revenu Québec, Tax News, 9 April 2026
Used for
- Quebec tax on insurance premiums paid in 2026 (9.975% after 31 December 2026).
Saskatchewan, PST bulletin PST-73
Used for
- Saskatchewan PST on insurance premiums.
FCAC, Saving for a down payment, https://www.canada.ca/en/financial-consumer-agency/services/mortgages/down-payment.html
Used for
- Minimum down payment is 5% of the price up to this, 10% above.
- Minimum down payment on the first $500,000.
- Minimum down payment on the part above $500,000.
Common questions about the CMHC Mortgage Insurance Calculator
- When is mortgage insurance required?
- When your down payment is less than 20% of the price. The premium protects the lender, not you, and it is usually added to your mortgage. Homes over $1.5 million can't have insured mortgages, so they need at least 20% down.
- How much is the CMHC premium?
- A percentage of the loan set by the loan-to-value ratio: 4.00% for 90.01% to 95%, 3.10% for 85.01% to 90%, 2.80% for 80.01% to 85%, and lower for smaller loans. An amortization over 25 years adds 0.20%.
- What is the minimum down payment?
- 5% of the first $500,000 of the price and 10% of the part from $500,000 to $1.5 million. On an $800,000 home that is $25,000 + $30,000 = $55,000.
- Which provinces tax the premium?
- Ontario at 8%, Quebec at 9% (9.975% from 2027) and Saskatchewan at 6%. The tax can't be added to the mortgage, so you pay it in cash on closing.