CMHC mortgage insurance calculator
With less than 20% down, your mortgage must be insured. CMHC's premium is 2.80% of the loan at 15–19.99% down, 3.10% at 10–14.99% and 4.00% at 5–9.99%, plus 0.20% for a 30-year amortization. It is added to the mortgage; Ontario, Quebec and Saskatchewan also charge sales tax on it, payable at closing.
CMHC mortgage insurance calculator
Premium, provincial sales tax and total mortgage for a down payment under 20%.
- Total mortgage
- $587,600
- premium added to the loan
- Sales tax on premium
- $1,808
- paid in cash at closing
- Minimum down payment
- $35,000
- Down payment
- 5.8%
Premium $22,600 at 4.00%. Total mortgage $587,600.
Premium at different down payments on $600,000
| Measure | 5% down | 7.5% down | 10% down | 12.5% down | 15% down | 17.5% down | 20% down |
|---|---|---|---|---|---|---|---|
| Down payment | $30,000 | $45,000 | $60,000 | $75,000 | $90,000 | $105,000 | $120,000 |
| Premium rate | 4.00% | 4.00% | 3.10% | 3.10% | 2.80% | 2.80% | 0.00% |
| Premium | n/a | $22,200 | $16,740 | $16,275 | $14,280 | $13,860 | $0 |
| Total mortgage | n/a | $577,200 | $556,740 | $541,275 | $524,280 | $508,860 | $480,000 |
Assumptions & sources
Assumptions
- Premiums are CMHC's published homeowner rates by loan-to-value; Sagen's standard table is identical.
- +0.20% for amortizations over 25 years (first-time buyers and new builds only).
- Sales tax on the premium: Ontario 8%, Quebec 9% (9.975% for premiums paid from January 1, 2027), Saskatchewan 6%. It can't be added to the mortgage.
- Non-traditional (borrowed) down payments at 90.01–95% LTV cost 4.50%; not modelled here.
Sources
- CMHC — Homeowner mortgage loan insurance: Purchase (eligibility). Checked .
- CMHC — Home Start: 30-year amortization for first-time buyers and new builds. Checked .
- Department of Finance Canada — Mortgage reforms in force: $1.5M insured price cap, 30-year amortization (effective December 15, 2024). Checked .
- Government of Ontario — Retail sales tax on insurance premiums. Checked .
- Government of Saskatchewan — PST Bulletin PST-73: Insurance contracts (effective April 1, 2020). Checked .
How this calculator works
The calculator finds your loan-to-value ratio, looks up CMHC's published premium for that band, adds the 30-year surcharge if it applies, and checks the minimum down payment, the $1,500,000 price cap and the amortization rule.
Example: on a $500,000 home with $25,000 down, the premium is 4.00% of $475,000, or $19,000. See CMHC insurance explained.
Frequently asked questions
How much is CMHC insurance?
It depends on your down payment: 4.00% of the mortgage with 5% to 9.99% down, 3.10% with 10% to 14.99%, and 2.80% with 15% to 19.99%. Add 0.20% for a 30-year amortization.
Can I avoid CMHC insurance?
Yes, with a down payment of at least 20% of the purchase price. Homes priced at $1.5 million or more can't be insured, so they need 20% down.
Is CMHC insurance paid upfront?
The premium is normally added to your mortgage. Provincial sales tax on the premium in Ontario, Quebec and Saskatchewan can't be added and is paid in cash at closing.
Are Sagen and Canada Guaranty premiums different?
Sagen's standard homeowner premium table matches CMHC's, and all three insurers publish the same 39% and 44% debt-service limits.
Primary sources
- CMHC — Homeowner mortgage loan insurance: Purchase (eligibility). Checked .
- CMHC — Home Start: 30-year amortization for first-time buyers and new builds. Checked .
- Department of Finance Canada — Mortgage reforms in force: $1.5M insured price cap, 30-year amortization (effective December 15, 2024). Checked .
- Government of Ontario — Retail sales tax on insurance premiums. Checked .
- Government of Saskatchewan — PST Bulletin PST-73: Insurance contracts (effective April 1, 2020). Checked .