CMHC Mortgage Insurance Calculator
Calculate your mortgage default insurance (CMHC) premium and how it adds to your total mortgage amount.
CMHC Mortgage Insurance Calculator
Mortgage default insurance for high-ratio mortgages
Minimum: $35,000
5–10% down
4.0%
premium
10–15% down
3.1%
premium
15–20% down
2.8%
premium
CMHC Premium
$22,800
(4.0% of mortgage)
Insured Mortgage
$592,800
Monthly Payment
$3,280.99/mo
CMHC Insurance Premium Rates
Mortgage default insurance is required if your down payment is less than 20% of the home's purchase price. The premium is calculated as a percentage of the insured mortgage amount and is typically added to your mortgage.
| Down Payment | Premium Rate | Example on $500,000 home |
|---|---|---|
| 5–9.99% | 4.00% | $19,000 (on $475K mortgage) |
| 10–14.99% | 3.10% | $13,950 (on $450K mortgage) |
| 15–19.99% | 2.80% | $11,900 (on $425K mortgage) |
| 20%+ | None | $0 |
Who Provides Mortgage Default Insurance?
Three insurers provide mortgage default insurance in Canada: CMHC (Canada Mortgage and Housing Corporation), Sagen (formerly Genworth Canada), and Canada Guaranty. Your lender typically chooses the insurer, and the premiums are the same regardless of which provider is used.
Frequently Asked Questions
Is CMHC insurance mandatory?
Yes, if your down payment is less than 20% of the home purchase price, mortgage default insurance is required by law in Canada.
How much does CMHC insurance cost on a $600,000 home?
With 5% down ($30,000), your mortgage is $570,000. The CMHC premium is 4% of $570,000 = $22,800. This is added to your mortgage, making your insured amount $592,800.
Can I pay CMHC insurance upfront?
Yes, you can pay the premium in full at closing rather than adding it to your mortgage, which saves you interest over the amortization period.