CMHC mortgage insurance calculator
Estimate the mortgage default insurance premium on a high-ratio purchase (less than 20% down), the resulting mortgage amount, and any provincial tax on the premium you pay in cash at closing.
Estimated insurance premium
CMHC Homeowner Purchase premium
$16,740.00
- Minimum insured down payment
- $35,000.00
- Loan-to-value (before premium)
- 90.00%
- Mortgage before premium
- $540,000.00
- Premium rate
- 3.10%
- Premium added to mortgage
- $16,740.00
- Total financed mortgage
- $556,740.00
- Provincial premium tax, paid in cash (8%)
- $1,339.20
Estimated premium is added to the mortgage; applicable provincial tax on the premium is paid in cash at closing. This is an estimate, not an insurance or lending approval. Insurer and lender criteria (credit, income, property) still apply.
Premium rates by loan-to-value
| Loan-to-value | Standard purchase (25 yrs) | Home Start (30 yrs) |
|---|---|---|
| >80% to 85% | 2.80% | 3.00% |
| >85% to 90% | 3.10% | 3.30% |
| >90% to 95% | 4.00% | 4.20% |
| >90% to 95%, nontraditional down payment | 4.50% | 4.70% |
Home Start rates already reflect the 30-year amortization; no separate extended-amortization surcharge is added on top. Only CMHC tables are modelled; private insurers may price differently.
Worked example: $600,000 home, $60,000 down, Ontario
| Scenario | Rate | Premium | Financed | ON tax (cash) |
|---|---|---|---|---|
| 25 years, standard purchase | 3.10% | $16,740 | $556,740 | $1,339.20 |
| 30 years, eligible Home Start | 3.30% | $17,820 | $557,820 | $1,425.60 |
Mortgage before premium: $540,000 (90% LTV). The minimum insured down payment at $600,000 is $35,000 (5% of the first $500,000 plus 10% of the rest).
Questions this calculator answers
When is CMHC insurance required?
Federally regulated lenders require mortgage default insurance when the down payment is below 20%. It is available only for homes priced below $1,500,000; at or above that price, conventional lender requirements apply. With 20% or more down, this model applies no borrower-paid high-ratio premium — that is not a guarantee of any lender product or approval.
Is this the same as mortgage life insurance?
No. Default insurance protects the lender if the mortgage isn't repaid. Mortgage life or disability insurance is a separate, optional product that protects you. AffordNorth is independent and not endorsed by CMHC.
Why is the premium tax paid separately?
Ontario (8%), Quebec and Saskatchewan (6%) tax the premium, and that tax can't be added to the mortgage — it's paid in cash at closing. Quebec's rate is 9% through December 31, 2026 and 9.975% from January 1, 2027 per Revenu Québec; the calculator applies the rate for today's date. This is one closing cost, not your total cash to close — use the affordability calculator or Ontario land transfer tax calculator for more.
What isn't modelled?
Rental or non-owner-occupied purchases, 3–4 unit properties, refinances, portability, premium top-ups and private insurer pricing. Nontraditional down payment pricing applies only above 90% up to 95% LTV on 1–2 unit homes, subject to credit criteria.
Official sources
- CMHC — Premium information for homeowner loans
Source checked 2026-09-25
- CMHC — Home Start eligibility and premium information
Source checked 2026-09-25
- Ontario — retail sales tax on insurance premiums (8%)
Source checked 2026-09-25
- Saskatchewan — PST on insurance contracts (6%)
- Quebec — Revenu Québec insurance premium tax (9% to 2026, 9.975% from 2027)
Educational estimate only; not insurance, lending or financial advice.