CMHC Insurance Calculator

Calculate Canadian mortgage default insurance premium when your down payment is under 20%. Premium is added to your mortgage balance.

$
$7.7%
CMHC Insurance Premium
CA$24,000
4.00% premium · 4.00% of $600,000 loan
Down Payment %
7.69%
Loan Before CMHC
CA$600,000
CMHC Premium
CA$24,000
Total Mortgage
CA$624,000
CMHC Premium Tiers:
5–9.99%: 4.00%
10–14.99%: 3.10%
15–19.99%: 2.80%

Premium comparison for your CA$650,000 home at each down payment tier.

Down Payment %Down Payment $Loan AmountCMHC RatePremiumTotal Mortgage
5.0%CA$32,500CA$617,5004.00%CA$24,700CA$642,200
7.5%CA$48,750CA$601,2504.00%CA$24,050CA$625,300
10.0%CA$65,000CA$585,0003.10%CA$18,135CA$603,135
12.5%CA$81,250CA$568,7503.10%CA$17,631CA$586,381
15.0%CA$97,500CA$552,5002.80%CA$15,470CA$567,970
17.5%CA$113,750CA$536,2502.80%CA$15,015CA$551,265
20.0%CA$130,000CA$520,000None$0CA$520,000
%
yrs

The CMHC premium is added to your mortgage, so you pay interest on it for the full amortization. Here is the real total cost.

CMHC Premium
CA$24,000
Added to your mortgage balance
PST (Ontario)
CA$1,920
If in Ontario — paid upfront
Extra Interest on Premium
CA$18,245
Over 25 years at 5.1%
Total True Cost of CMHC
CA$44,165
Premium + interest + PST (ON)
Monthly Payment With CMHC
CA$3,661
Including premium added to loan
Monthly Payment Without CMHC
CA$3,520
If you had put 20% down

How to Use the CMHC Calculator

Enter your Home Price and Down Payment. The calculator instantly shows whether CMHC insurance applies, the premium rate for your down payment tier, and your total insured mortgage amount. The CMHC premium is added to your mortgage balance — it is not paid upfront (though provincial PST may apply upfront in some provinces).

CMHC Premium Rate Formula

CMHC Premium = Loan Amount × Premium Rate
Total Insured Mortgage = Loan Amount + CMHC Premium

Premium Rates:
Down 5.00–9.99% → 4.00% of loan
Down 10.00–14.99% → 3.10% of loan
Down 15.00–19.99% → 2.80% of loan
Down 20%+ → No CMHC required

Example: $600,000 home with 10% down ($60,000). Loan = $540,000. CMHC = $540,000 × 3.10% = $16,740. Total mortgage = $556,740.

Example: Vancouver, British Columbia

First-Time Buyer — Burnaby Condo

Purchase Price$699,000
Down Payment (7%)$48,930
Loan Amount$650,070
CMHC Rate (5–9.99%)4.00%
CMHC Premium$26,003
Total Insured Mortgage$676,073
BC PST on Premium (7%)$1,820 — due upfront

Increasing down payment to 10% ($69,900) would reduce CMHC to $20,097 — saving $5,906 and reducing monthly payments by ~$34 at 5% over 25 years.

Frequently Asked Questions

Yes, when your down payment is less than 20% and you use a federally regulated lender (bank, credit union). It protects the lender if you default, not you. Three providers offer it: CMHC, Sagen (formerly Genworth), and Canada Guaranty. All charge the same rates.
To avoid CMHC, put at least 20% down. For a $700,000 home, that's $140,000. Homes priced over $1.5 million require at least 20% down and are not eligible for CMHC regardless. Some private lenders offer conventional mortgages without mortgage insurance.
Ontario (8%), Quebec (9%), Manitoba (8%), and Saskatchewan (6%) charge provincial sales tax on CMHC premiums. This PST must be paid upfront at closing and cannot be added to the mortgage. Other provinces (BC, AB, NS, NB, PEI, NL) do not charge PST on CMHC.
CMHC offers a 25% premium refund for energy-efficient homes that meet specific requirements. If you sell or refinance, any unused portion is generally not refunded. When you renew your mortgage, you keep the insurance without additional premiums as long as the loan amount doesn't increase.

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