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%
Note: Some provinces (ON, QC, MB, SK) charge provincial sales tax on the CMHC premium, payable upfront.
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
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.