CMHC Mortgage Insurance Calculator Canada

Mortgage Insurance Estimation Result:

Enter the purchase price and down payment to calculate your insurance premium.

What Is CMHC Mortgage Insurance?

The Canada Mortgage and Housing Corporation (CMHC) offers mortgage default insurance for homebuyers who make a down payment of less than 20% of the property value. This insurance protects lenders against the risk of borrower default and enables buyers to access high-ratio mortgages.

If your down payment is below 20%, you're required to pay a one-time insurance premium, which is typically added to your mortgage balance. The exact premium depends on your Loan-to-Value (LTV) ratio. The lower your down payment, the higher your LTV, and the higher the insurance premium.

CMHC Premium Rates (2024 Guidelines)

• 5% to 9.99% down payment (LTV 95%): 4.00%
• 10% to 14.99% down payment (LTV 90–95%): 3.10%
• 15% to 19.99% down payment (LTV 80–90%): 2.80%
• 20% or more: Insurance not required

Benefits of Using This Calculator

• Quickly estimate your mortgage insurance cost
• Understand how down payment size affects your premium
• Make better home-buying decisions with total cost awareness
• No login or personal info required — fully anonymous

This tool gives you transparency into the hidden costs of purchasing a home in Canada, especially for first-time buyers. While mortgage insurance adds to the overall cost of your loan, it allows access to homeownership without saving for a full 20% down payment.

You can pay the CMHC premium upfront or add it to your mortgage balance. The calculator assumes you're financing the premium into your loan.

Use Case Example

If you purchase a home for CAD 500,000 and make a down payment of CAD 25,000 (5%), your mortgage is CAD 475,000. With a 4% CMHC premium rate, your insurance cost would be CAD 19,000, which increases your total mortgage balance.

Use this CMHC tool alongside other financial tools such as:

• Mortgage Payment Calculator
• First-Time Buyer Incentive Estimator
• Property Transfer Tax Calculator