CMHC Insurance Calculator 2026
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Calculate your CMHC mortgage default insurance premium. Required by CMHC, Sagen, or Canada Guaranty when your down payment is less than 20%. Enter home price, down payment, and amortization to see the premium, loan-to-value ratio, and estimated monthly impact.
CMHC Insurance Details
CMHC Premium Rate Table
| Scenario | Premium Rate |
|---|---|
| LTV above 90% (down payment 5 to 9.99%) | 4.00% |
| LTV 85.01% to 90% (down payment 10 to 14.99%) | 3.10% |
| LTV 80.01% to 85% (down payment 15 to 19.99%) | 2.80% |
| LTV 80% or below (down payment 20%+) | Not required |
Amortization over 25 years adds a 0.20% surcharge per 5-year block. Homes over $1 million are not eligible for CMHC insurance.
CMHC premiums are current as of 2026 and apply to properties under $1 million. The premium is added to your mortgage and amortised over the loan term. Provincial sales tax may apply to the premium in some provinces (not added to the mortgage). Verify with your lender or CMHC directly.
How CMHC Mortgage Insurance Works
CMHC mortgage default insurance (also called high-ratio insurance) exists to allow Canadians to purchase homes with less than 20% down. Without insurance, lenders would not offer mortgages at such high loan-to-value ratios due to default risk. The insurance premium is borne by the borrower but paid directly to CMHC, Sagen, or Canada Guaranty (the three approved insurers in Canada).
The premium is calculated as a percentage of the loan amount (after your down payment). The rate depends on your LTV: 2.80% for LTV of 80.01% to 85%, 3.10% for 85.01% to 90%, and 4.00% for 90.01% to 95%. The maximum insured LTV is 95% (minimum 5% down payment). Homes priced at $1 million or above require at least 20% down and are not eligible for insurance.
For amortization periods longer than 25 years (available to first-time buyers of new builds as of 2026), the premium increases by 0.20% per additional 5-year block. A 30-year amortization adds 0.20% to the base premium rate.
The premium is typically added to your mortgage, increasing your total loan amount. You pay interest on this additional amount throughout your amortization. Some provinces apply PST to the CMHC premium itself (Ontario applies 8% PST, Quebec applies 9% QST), which must be paid at closing and cannot be added to the mortgage.
| Down Payment | Down Payment % | LTV Ratio | Premium Rate | Premium Amount |
|---|---|---|---|---|
| C$25,000 | 5% | 95% | 4.00% | C$19,000 |
| C$37,500 | 7.5% | 92.5% | 4.00% | C$18,500 |
| C$50,000 | 10% | 90% | 3.10% | C$13,950 |
| C$62,500 | 12.5% | 87.5% | 3.10% | C$13,563 |
| C$75,000 | 15% | 85% | 2.80% | C$11,900 |
| C$87,500 | 17.5% | 82.5% | 2.80% | C$11,550 |
| C$100,000 | 20% | 80% | None | C$0 |
CMHC mortgage default insurance is mandatory for any home purchase in Canada where the down payment is less than 20% of the purchase price. It protects the lender (not you) in case you default on the mortgage. The premium is paid by the borrower and is typically added to the mortgage. Homes priced at $1 million or more cannot be CMHC-insured, requiring a minimum 20% down payment.
CMHC premiums depend on your loan-to-value ratio: 4.00% for LTV above 90% (down payment 5 to 9.99%), 3.10% for LTV 85.01% to 90% (down payment 10 to 14.99%), and 2.80% for LTV 80.01% to 85% (down payment 15 to 19.99%). No premium is required for down payments of 20% or more. Amortization periods over 25 years add a surcharge of 0.20% per 5-year block.
The CMHC premium is not paid as a lump sum at closing (with some exceptions). Instead, it is added to your mortgage principal and amortised over the life of the loan. This means you pay interest on the premium as well. In some provinces, a provincial sales tax (PST) applies to the CMHC premium itself, and that PST portion must be paid at closing, not added to the mortgage.
Yes, by having a down payment of 20% or more of the purchase price. This gives you an LTV of 80% or below, which makes the mortgage 'conventional' (uninsured). Additionally, homes priced at $1 million or more are not eligible for CMHC insurance regardless of down payment, so buyers must have at least 20% down. Avoiding CMHC insurance saves thousands in premium costs.
No. CMHC mortgage default insurance protects the lender, not you. If you default, CMHC pays out the lender's claim, and then pursues you for repayment. As a borrower, you pay the premium but do not receive any coverage or benefit beyond being able to qualify for a high-ratio mortgage with less than 20% down. It is different from home insurance or mortgage life insurance, which protect your estate.