For home buyers

    CMHC Insurance Calculator

    Estimate your CMHC mortgage default insurance premium from the price and down payment, and see what it adds to your total mortgage and monthly payment.

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    Enter a home price and down payment to see the premium.

    CMHC premium rates by loan-to-value

    • up to 65%: 0.60%
    • up to 75%: 1.70%
    • up to 80%: 2.40%
    • up to 85%: 2.80%
    • up to 90%: 3.10%
    • up to 95%: 4.00%

    Estimate only. Premium rates are the published CMHC rates by loan-to-value; Sagen and Canada Guaranty match them. Insurance is unavailable with 20% or more down or on homes priced $1,500,000 or more. In Ontario, Quebec, and Saskatchewan the premium also carries provincial sales tax, paid up front and not shown here. Confirm with your lender.

    How CMHC premiums are set

    Mortgage default insurance protects the lender when you put down less than 20%. The premium is a percentage of the mortgage that rises as your down payment falls: 2.80% at 15% down, 3.10% at 10%, and 4.00% at the 5% minimum. CMHC, Sagen, and Canada Guaranty all charge the same rates, so the cost is the same whichever insurer your lender uses.

    The premium is added to your mortgage

    You do not write a cheque for the premium at closing. It is added to your principal and repaid with interest over the amortization, which is why a 4.00% premium on a large mortgage can cost noticeably more than its sticker value over time. The one piece paid up front is the provincial sales tax on the premium in Ontario, Quebec, and Saskatchewan.

    Keep the record from day one

    From the moment you close, the documents pile up: the mortgage, the insurance, the closing statement, the warranties. Keeping them in one durable place is the cheapest insurance a homeowner has. That is what Habyn property records are built to keep, free for homeowners on the Home plan.

    Frequently asked questions

    How much is CMHC insurance?

    The premium depends on your loan-to-value: 2.40% at 80% LTV (20%+ down is conventional and pays nothing), 2.80% at 85%, 3.10% at 90%, and 4.00% at 95% (5% down). The premium is a percentage of the mortgage and is added to your principal.

    Who pays CMHC insurance and when?

    Buyers with less than 20% down on a home priced under $1,500,000. The premium is added to the mortgage rather than paid up front, so you repay it with interest over the amortization. The provincial sales tax on the premium, in Ontario, Quebec, and Saskatchewan, is paid up front at closing.

    Is CMHC the only mortgage insurer?

    No. Sagen and Canada Guaranty are the two private insurers, and all three charge the same premium rates by loan-to-value. Your lender chooses the insurer; the cost to you is the same.

    Can I avoid CMHC insurance?

    Put down 20% or more and the mortgage is conventional with no premium. On homes priced $1,500,000 or more, 20% down is required and insurance is not available at all.

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