CMHC Insurance Calculator
On a $400,000 home with a 5% down payment ($20,000), the CMHC premium is $15,200.00 — 4.00% of the $380,000 loan, added to your mortgage for a total of $395,200. In Ontario you also owe $1,216.00 provincial tax on the premium itself, in cash, at closing. Enter your own numbers below to see your premium, LTV, and how it compares across down-payment tiers.
$13,950.00 CMHC premium
Loan amount: $450,000 · LTV: 90.00% · Premium rate: 3.10%
Total loan with premium added: $463,950
Provincial premium tax (ON): $1,116.00 — payable in cash at closing (not added to the loan). Cash required at closing: $51,116.00 (down payment + premium tax).
LTV tier comparison — same $500,000 purchase at 5% / 10% / 15% / 20% down
| Down payment | Loan amount | LTV | Premium rate | Premium |
|---|---|---|---|---|
| 5% ($25,000) | $475,000 | 95.00% | 4.00% | $19,000.00 |
| 10% ($50,000) | $450,000 | 90.00% | 3.10% | $13,950.00 |
| 15% ($75,000) | $425,000 | 85.00% | 2.80% | $11,900.00 |
| 20% ($100,000) | $400,000 | 80.00% | 2.40% | $9,600.00 |
CMHC homeowner and small rental premium grid, the 0.20-point amortization-over-25-years surcharge, minimum down payment rules and the $1.5M maximum insurable price verified against CMHC (cmhc-schl.gc.ca, consulted 2026-07-17). Ontario, Quebec, Saskatchewan and Manitoba charge provincial sales tax on the insurance premium itself, payable in cash — it cannot be added to the loan. Sagen and Canada Guaranty publish comparable but not identical grids for edge cases. Estimate only — not a lender's binding quote. How we calculate →
What is CMHC mortgage default insurance, and who needs it
Any mortgage with a down payment under 20% (an insured, or "high-ratio", mortgage) is legally required to carry mortgage default insurance in Canada — CMHC is the main federal insurer, alongside Sagen and Canada Guaranty, who publish comparable grids. It protects the lender, not you, if you default — but it's what lets you buy with as little as 5% down.
The premium is a percentage of your loan amount (not the purchase price), set by your loan-to-value (LTV) ratio: the higher your LTV — meaning the smaller your down payment — the higher the rate. On a $400,000 home, $20,000 down (5%) means a $380,000 loan at 95% LTV, priced at 4.00%; the same home with $50,000 down (12.5%, 87.5% LTV) drops to 3.10%.
Minimum down payment rules and the $1.5M insurable price cap
The minimum down payment is 5% on the first $500,000 of the purchase price and 10% on the portion from $500,000 to $1,499,999. On a $500,000 home the minimum is $25,000.00; on a $700,000 home it's 5% of the first $500,000 plus 10% of the remaining $200,000, or $45,000.00 total.
Homes priced above $1.5 million are not eligible for mortgage default insurance at all — buyers need at least 20% down regardless of the LTV math. This $1.5M cap and the two-tier minimum were both raised effective December 15, 2024.
The 0.20-point surcharge for 30-year amortizations
Insured mortgages are normally capped at a 25-year amortization, but eligible first-time buyers and buyers of new builds can extend to 30 years — for a 0.20 percentage point surcharge on the premium rate. On a $600,000 home with the minimum down payment ($35,000.00, a $565,000 loan), a 25-year amortization would price the premium at 4.00%; extending to 30 years pushes the rate to 4.20% — a premium of $23,730.00 instead of $22,600.00.
Provincial tax on the premium — paid in cash, not added to the loan
Ontario (8%), Quebec (9%), Saskatchewan (6%) and Manitoba (7%) charge provincial sales tax on the insurance premium itself — not on the home. Unlike the premium, this tax cannot be rolled into the mortgage; it's due in cash at closing, on top of your down payment. On the $400,000/5%-down example above, that's an extra $1,216.00 in Ontario, bringing total cash needed to $21,216.00.
Other provinces (British Columbia, Alberta, Atlantic Canada, the territories) do not charge this tax on the premium.
Small rental loans use a different, more expensive grid
A small rental property (1-4 units, non-owner-occupied) is insurable only up to 80% LTV (20% minimum down) and uses a separate, higher premium schedule than an owner-occupied home. A $400,000 rental with $88,000 down (78% LTV) prices at 2.90% — versus 2.40% an owner-occupier would pay at the same 80% LTV tier.
Frequently asked questions
How much is CMHC insurance on a $400,000 house with 5% down?
$15,200.00 — 4.00% of the $380,000 loan (95% LTV, 25-year amortization). Your total mortgage becomes $395,200. In Ontario, add $1,216.00 provincial tax, payable in cash.
What is the minimum down payment in Canada?
5% of the purchase price up to $500,000, then 10% on the portion from $500,000 to $1,499,999. A $700,000 home needs at least $45,000.00 down. Homes over $1.5 million require at least 20% down and are not eligible for mortgage default insurance at all.
Does a 30-year amortization cost more for CMHC insurance?
Yes — a 0.20 percentage point surcharge applies on top of the normal rate for the tier. On a $600,000 home at minimum down payment, that raises the premium rate from 4.00% to 4.20%, adding roughly $1,130.00 to the premium.
Is the CMHC premium added to the mortgage?
Yes, the premium itself can be added to the loan and amortized with it. The provincial sales tax on the premium (Ontario 8%, Quebec 9%, Saskatchewan 6%, Manitoba 7%) is the exception — it must be paid in cash at closing and cannot be added to the loan.
Can I avoid CMHC insurance?
Yes — put down at least 20% of the purchase price (an LTV of 80% or less) for a "conventional" uninsured mortgage. Homes over $1.5 million require 20%+ down regardless, since they aren't eligible for default insurance at all.
Is a rental property premium the same as an owner-occupied premium?
No. Small rental (non-owner-occupied, 1-4 units) properties use a separate, higher premium schedule and are capped at 80% LTV (20% minimum down) — they cannot get insured financing above that LTV the way an owner-occupied purchase can up to 95%.
Researched & verified by the Calcuris Data & Research Team. How we build and check our tools →