Mortgage insurance calculator for Canada (CMHC premiums)
This mortgage insurance calculator estimates the CMHC (or equivalent) premium when you put less than 20% down on a home priced under $1.5 million (CMHC: below $1,500,000). Premiums: 4.00% (5–9.99% down), 3.10% (10–14.99%), 2.80% (15–19.99%), plus 0.20 percentage points for an eligible 30-year amortization (first-time buyers or new construction): 4.20%, 3.30% and 3.00%. Example: $500,000 purchase, 10% down → $450,000 × 3.10% = $13,950 premium; total insured mortgage $463,950. Usually added to the mortgage. Estimates only.
- Rules verified: 2026-07-13
- 5–9.99% down · 4.00%
- 10–14.99% down · 3.10%
- 15–19.99% down · 2.80%
- Eligible 30-year amortization · +0.20 pts
- Minimum down: 5% of first $500,000 + 10% of the rest
- Price must be under $1,500,000
At a $500,000 purchase, 25-year amortization (5%, 10%, 15% and 20% down) — premiums, not monthly payments
| Down payment | Mortgage | Premium | Mortgage with premium added |
|---|---|---|---|
| $25,000 | $475,000 | $19,000 | $494,000 |
| $50,000 | $450,000 | $13,950 | $463,950 |
| $75,000 | $425,000 | $11,900 | $436,900 |
| $100,000 | $400,000 | not required | $400,000 |
| Loan-to-value | Down payment | Premium, up to 25 years | Premium, eligible 30 years |
|---|---|---|---|
| 90.01% to 95% | 5–9.99% | 4.00% | 4.20% |
| 85.01% to 90% | 10–14.99% | 3.10% | 3.30% |
| 80.01% to 85% | 15–19.99% | 2.80% | 3.00% |
| Price $1,500,000 or more | 20% minimum | Not insurable | Not insurable |
- Eligible 30-year amortization: CMHC adds a 0.20% surcharge to the premium when the amortization is beyond 25 years. Under CMHC Home Start, 30 years is available on high-ratio loans (over 80% loan-to-value) for an owner-occupied home when at least one borrower is a first-time homebuyer or the home is newly built and not previously occupied.
- Price cap: the purchase price must be below $1,500,000. At $1,500,000 or more, CMHC mortgage loan insurance is not available, so lenders require at least 20% down.
- Example at 30 years: a $500,000 home with $25,000 down is a $475,000 mortgage × 4.20% = $19,950, added to the mortgage for $494,950.
- Example at 25 years: a $600,000 home with 10% down is a $540,000 mortgage × 3.10% = $16,740, added to the mortgage for $556,740.
- Non-traditional down payment at 90.01% to 95% loan-to-value: CMHC charges 4.50%, or 4.70% under Home Start. This calculator does not model non-traditional down payments.
- In Quebec, Ontario and Saskatchewan, provincial sales tax applies to the premium and can’t be added to the loan.
Sources, checked 2026-10-07: CMHC premium schedule for homeowner loans · CMHC Home Start (30-year) · CMHC qualifying requirements
When you need mortgage insurance at all, and who it protects: CMHC insurance explained.
Purchase
Minimum for this price: $25,000
Estimated premium
$19,000.00
4.00% of the mortgage (5.0% down)
$475,000 + $19,000 = $494,000 financed
Default insurance protects the lender, not you. The premium is typically added to the principal. This page does not estimate monthly payments.
Frequently asked questions
When is mortgage default insurance needed?
On most high-ratio purchases, meaning a down payment under 20%, when the home price is under $1.5 million. The premium is a percentage of the mortgage and is usually added to the principal. At $1.5 million or more, default insurance is not available and at least 20% down is required.
How is CMHC insurance calculated?
Multiply the mortgage amount (price minus down payment) by the premium rate for your down payment: 4.00% for 5–9.99% down, 3.10% for 10–14.99% and 2.80% for 15–19.99%. Eligible 30-year amortizations (first-time buyer or new construction) add 0.20 percentage points, and CMHC charges 4.50% at 5–9.99% down when the down payment comes from non-traditional sources. Example: a $500,000 home with $25,000 down is a $475,000 mortgage × 4.00% = $19,000, or $19,950 at 4.20% with an eligible 30-year amortization.
What is the minimum down payment in Canada?
5% of the first $500,000 and 10% of the portion between $500,000 and $1.5 million. For example, a $760,000 home needs at least $51,000 down (5% × $500,000 + 10% × $260,000). At $1.5 million or more, default insurance is not available, so at least 20% down is required.
Do I pay the CMHC premium at closing?
Usually not: the premium is typically added to your mortgage and paid off over the amortization. In Ontario, Quebec and Saskatchewan, provincial sales tax applies to the premium, and that tax cannot be added to the loan amount.
Is there a mortgage insurance calculator for Canada?
Yes, this page is one. Enter a home price and down payment to see the CMHC premium and the total amount financed; it uses CMHC's standard homeowner premium schedule, and other insurers' pricing may differ. To see a monthly payment with the premium included, open the payment calculator with your numbers.
Does mortgage default insurance protect the borrower?
No. It protects the lender if you default. You still owe the mortgage, including any premium rolled into the principal.
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How we're paid
Disclosure. We are not a brokerage.