CMHC Mortgage Insurance Calculator
In Canada, any mortgage with less than 20% down requires mortgage default insurance. Calculate your exact premium, the Ontario PST on that premium, and the total amount added to your mortgage.
Minimum 5% of purchase price. CMHC insurance is only required below 20%.
Your CMHC mortgage insurance
How CMHC mortgage insurance works
Mortgage default insurance — commonly called CMHC insurance after its largest provider — protects the lender, not you, if you stop making payments. In Canada, it's mandatory for any mortgage where the buyer puts down less than 20%. It cannot be waived.
The premium is calculated as a percentage of the mortgage amount (not the purchase price). In Ontario, you also pay 8% PST on the premium itself, due upfront on closing day — this portion cannot be added to your mortgage. The premium itself, however, is added to your mortgage balance and paid off over your amortization period.
CMHC premium rates (2026)
| Down payment | Premium rate |
|---|---|
| 5% to 9.99% | 4.00% of mortgage |
| 10% to 14.99% | 3.10% of mortgage |
| 15% to 19.99% | 2.80% of mortgage |
| 20% or more | No insurance required |
CMHC insurance is not available on properties over $1,500,000 — a minimum 20% down payment is required for any purchase above that threshold.