Calculator
CMHC Mortgage Insurance Calculator
Calculate your mortgage default insurance premium for down payments under 20%.
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2026 Premium Rates
Results
CMHC Premium
$22,800
Premium Rate
4.00%
Loan-to-Value
95.0%
Total Mortgage (with premium)
$592,800
Loan Amount (before premium)
$570,000
Minimum down payment required: $35,000
Premium rates are based on 2026 CMHC standard rates for amortizations up to 25 years. Higher premiums apply for extended amortizations or self-employed borrowers. This calculator provides estimates only.
METHODOLOGY
How it works
When Insurance Is Required
Canadian lenders require mortgage default insurance (from CMHC, Sagen, or Canada Guaranty) when your down payment is less than 20% of the purchase price. This protects the lender if you default.
Premium Calculation
The premium is calculated as a percentage of your loan amount, ranging from 0.60% (65% LTV) to 4.00% (95% LTV). The premium is added to your mortgage and amortized over its life — you do not pay it upfront.
Minimum Down Payment Rules
For homes up to $500,000: minimum 5% down. For homes $500,000–$1,000,000: 5% on first $500K plus 10% on remainder. Homes over $1,000,000 are not insurable and require 20%+ down.
INSIGHTS
What this tells you
True Cost
The insurance premium adds to your total mortgage — factor this into affordability.
Down Payment Impact
See how increasing your down payment reduces or eliminates the premium.
Monthly Effect
Understand how the premium affects your monthly mortgage payments.
Break-Even Point
Know when reaching 20% down eliminates insurance entirely.
Insurance is a cost, yes — but it is also what makes homeownership possible with less down.
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QUESTIONS
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