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CMHC mortgage insurance calculator

CMHC Mortgage Insurance Calculator

Estimate the one-time mortgage default insurance premium when the down payment is under 20%. These are federal rules. The B.C. hook: this province charges no provincial sales tax on the premium, unlike Ontario. The result is free — no contact wall.

By Alex Lam

Use the calculatorFirst-time buyer guide

Free estimate

Estimate your mortgage default insurance premium

The premium is a percentage of the loan amount, not the purchase price. Enter both a purchase price and a down payment. The result appears below — no contact details required.

Down payment

Enter a purchase price and a down payment to see the estimate. $0 is a real answer only when LTV is 80% or less — incomplete input does not show $0. No email or phone is required to view the result.

What mortgage default insurance is.

Mortgage default insurance — often searched as CMHC insurance — is the one-time premium a buyer pays when the down payment is under 20%. It protects the lender, not you. Published rates are identical at CMHC, Sagen, and Canada Guaranty, so this page speaks generically while using the CMHC name people search for.

The premium is a percentage of the loan amount, not the purchase price. That is the most common error on competitor pages. Financing the premium does not change the LTV band (Eligible Mortgage Loan Regulations s.1(3)).

How to use this calculator.

Enter the purchase price and the down payment in dollars or percent. Choose 25 or 30 years. Check first-time buyer or newly built home only if that applies — the 30-year option stays disabled until the mortgage is high-ratio and that box is on. Check borrowed / non-traditional down payment only if the down payment is borrowed; that surcharge exists only in the 90.01–95% band. Interest rate is optional and blank by default.

This page does not run a full amortization schedule, a stress-test qualifier, self-employed or second-home schedules, blended amortization, portability, or the secondary-suite program. Property transfer tax is on the BC property transfer tax calculator.

Published premium rates on the loan.

Standard owner-occupied 1–4 unit schedule, verified 3 September 2026 from CMHC and CMHC Home Start. 30-year rates include the +0.20% surcharge and require LTV greater than 80% plus a first-time buyer or a newly built home.

CMHC mortgage default insurance premium rates
RateApplies to
2.80% / 3.00%LTV 80.01–85% (25-year / 30-year)
3.10% / 3.30%LTV 85.01–90% (25-year / 30-year)
4.00% / 4.20%LTV 90.01–95% (25-year / 30-year)
4.50% / 4.70%LTV 90.01–95% with a borrowed / non-traditional down payment
$0LTV 80.0000% or less — not high-ratio
UnavailablePurchase price $1,500,000 or more — 20% down required

Minimum down payment and the $1.5 million cliff.

Effective December 15, 2024, the minimum down payment is 5% up to $500,000, then 5% of the first $500,000 plus 10% of the portion above, for prices over $500,000 and under $1,500,000. At $1,500,000 or more, insurance is unavailable and 20% down is required. The top insurable price is $1,499,999 (Department of Finance).

B.C. charges $0 PST on the premium.

This page always shows provincial sales tax on the premium as $0 in B.C. Ontario charges 8% retail sales tax on insurance premiums, and that tax cannot be added to the loan. There is no GST/HST line here — no official source confirms one.

Mortgage default insurance questions.

Is mortgage default insurance optional if I put less than 20% down?

No. A mortgage with a loan-to-value strictly greater than 80% is a high-ratio mortgage. Federally regulated lenders must obtain mortgage default insurance on high-ratio loans. You typically pay the premium. At exactly 80.0000% LTV the loan is not high-ratio and this page shows a $0 high-ratio premium.

Does this insurance protect me if I cannot make the payments?

No. Mortgage default insurance protects the lender, not the borrower. If you default, the insurer pays the lender. You still owe the debt. This is not optional coverage you buy for your own protection.

Is this the same as mortgage life insurance?

No. Mortgage default insurance (CMHC, Sagen, or Canada Guaranty) protects the lender against default. Mortgage life insurance, or creditor insurance, is a separate optional product that may pay the mortgage if you die. This calculator does not price life or creditor insurance.

Can a larger down payment lower the premium?

Yes. The premium is a percentage of the loan, and the rate drops at published LTV bands: 90.01–95%, 85.01–90%, and 80.01–85%. Crossing into the next cheaper band — for example putting enough extra down to reach 85.0000% instead of 85.14% — can save thousands. This page flags when you are within $10,000 of the next cheaper band.

What are the low-ratio lender-insured bands?

Lenders can optionally insure a mortgage at 80% LTV or less. The published low-ratio transactional rates are 0.60% at 65% LTV or less, 1.70% at 65.01–75%, and 2.40% at 75.01–80%. A buyer with 20% or more down does not choose these. They are out of scope for the main estimate and appear here only as a reference.

What happens at a $1.5 million purchase price?

Insurance is unavailable at $1,500,000 or more. The top insurable price is $1,499,999. At $1,499,000 the minimum down payment is $124,900. At $1,500,000 the required down payment jumps to 20% ($300,000) — about $175,100 more than at $1,499,000. Effective December 15, 2024.

Do B.C. buyers pay provincial sales tax on the premium?

No. British Columbia charges $0 PST on the mortgage default insurance premium. Ontario charges 8% retail sales tax on the premium, and that tax cannot be added to the loan. This page always shows the B.C. line: Provincial sales tax on the premium: $0 in BC. There is no GST/HST line — no official source confirms one.

Disclaimer

This is an estimate only. The insurer and the lender set the final premium. Rates are the published standard owner-occupied 1–4 unit schedule as of 2026-09-03. No insurer publishes its rounding rules — this page computes in cents and displays to the cent. The insurance protects the lender, not the borrower.

Confirm current rules with your lender and the insurer. Real estate services are provided by Alex Lam Personal Real Estate Corporation through Coldwell Banker Prestige Realty.

Buying with under 20% down

Use the estimate, then plan the rest of the purchase.

Buying in BC? I can help you estimate closing costs and evaluate properties. The calculator result above does not require this step.

Ask about this estimateContact Alex

Also see the BC property transfer tax calculator, first-time buyer guide, and real estate overview.