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HomeToolsCMHC Insurance Calculator

CMHC mortgage insurance calculator

Enter the price and down payment to see the loan-to-value, minimum down payment, CMHC premium and total mortgage.

Mortgage insurance required

Loan-to-value
93.08%
Minimum down payment
$40,000
Premium rate
4.00%
CMHC premium
$24,200
Total mortgage with premium
$629,200

When mortgage insurance is required

Insurance is required when the down payment is under 20%, so the loan-to-value is above 80%. The premium protects the lender, is based on the loan-to-value tier, and is normally added to the mortgage. Homes priced at $1.5M or more cannot be insured, so they need 20% down.

Check the amortization rule

The calculator applies the 0.20% surcharge for amortizations over 25 years. Confirm that the borrower qualifies for a 30-year insured amortization as a first-time buyer or on a new build before quoting it. Sagen and Canada Guaranty use similar tiers, so treat the result as a close estimate.

Common questions

How much is CMHC mortgage insurance?
The premium is a percentage of the base loan: 2.80% for 80.01% to 85% loan-to-value, 3.10% for 85.01% to 90%, and 4.00% for 90.01% to 95%. A 30-year amortization adds 0.20%.
What is the minimum down payment in Canada?
It is 5% of the first $500,000 of the price and 10% of the portion from $500,000 to $1.5M. Homes priced at $1.5M or more need 20% down.
Is the CMHC premium paid upfront?
Most borrowers add it to the mortgage and pay it down with the loan. In Ontario, Quebec and Saskatchewan, provincial sales tax on the premium must be paid in cash at closing.
Can I get a 30-year amortization on an insured mortgage?
Since December 15, 2024, first-time buyers and buyers of new builds can use 30 years on an insured mortgage. Other insured borrowers are limited to 25 years.
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