CMHC mortgage insurance calculator
Premium, provincial sales tax and total mortgage for a down payment under 20%.
CMHC premium$22,6004.00% of $565,000 (loan-to-value 94.2%)
- 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
5% downbelow the minimumn/a
7.5% down$22,200
10% down$16,740
12.5% down$16,275
15% down$14,280
17.5% down$13,860
Lowest premium20% down$0
| 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 .
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