CMHC insurance calculator
With less than 20% down your mortgage must be insured. See the premium, the sales tax due at closing and how a bigger down payment changes both.
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CMHC premium rates (2026)
| Down payment | Loan-to-value | Premium on the loan |
|---|---|---|
| 5% to 9.99% | 90.01% – 95% | 4.00% |
| 10% to 14.99% | 85.01% – 90% | 3.10% |
| 15% to 19.99% | 80.01% – 85% | 2.80% |
| 20% or more | 80% or less | Not required |
Add 0.20% for an amortization over 25 years (allowed for first-time buyers and new builds). Sagen and Canada Guaranty, the two private insurers, charge the same standard rates.
How the premium is paid
The premium is added to your mortgage balance, so you repay it with interest over the amortization. In Ontario (8%), Quebec (9%) and Saskatchewan (6%) provincial sales tax applies to the premium, and that tax cannot be financed: it is due in cash at closing.
Example
A $650,000 home with 10% ($65,000) down leaves a $585,000 loan. The premium is 3.10% × $585,000 = $18,135, for a total mortgage of $603,135. In Ontario you also pay 8% × $18,135 = $1,450.80 of sales tax at closing.
Minimum down payment
5% of the first $500,000 and 10% of the portion from $500,000 to $1.5 million. At $1.5 million and above, insurance isn’t available and you need 20% down.
Frequently asked questions
Is CMHC insurance a one-time fee?
Yes. It is a single premium, usually added to the mortgage. There is no monthly charge, unlike US private mortgage insurance.
Does CMHC insurance protect me?
No. It protects the lender if you default. In exchange you can buy with as little as 5% down and often get a lower interest rate than an uninsured mortgage.
Is it worth saving 20% to avoid the premium?
It depends on prices and rates while you save. On a $650,000 home, going from 10% to 20% down avoids an $18,135 premium, but it takes $65,000 more in savings. Use the table in the results to compare.
Do I get the premium back if I sell?
No, but if you port the mortgage to a new home or switch to a new insured mortgage, you may get a premium credit. Ask your lender.
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